Top gainer makes record $1.69 mil profit at Watermark Robertson Quay

A unit sold on May 2 at Watermark Robertson Quay, on Rodyk Street in prime District 9, made the top gain of $1.69 million in the week of April 30 to May 7, according to caveats. The 1,884 sq ft, four-bedroom unit on the third floor was purchased for $1.51 million ($803 psf) in October 2005, and sold for $3.2 million ($1,699 psf). The seller reaped a 112% profit, or an annualised profit of 6% over 13.5 years.

This sale saw the all-time highest resale profit at Watermark Robertson Quay, and is also the fifth of six resale transactions there this year. The second-highest gain at the development was made by the seller of a 2,056 sq ft, three-bedroom penthouse unit. The 10th-floor unit was bought for $1.468 million ($714 psf) in May 2005 and sold for $3.1 million ($1,508 psf) in December 2012, netting the seller a 111% profit of $1.632 million over 7.6 years.

At the development, there have been 132 profitable and nine unprofitable transactions since 2009. The profits range from $12,000 to $1.688 million. Watermark Robertson Quay is a 206-unit, freehold project developed by Hong Leong Holdings and was completed in 2008. It comprises a mix of two-bedroom lofts, and three- and four-bedroom units. The development is an eight-minute walk from UE Shopping Mall and Robertson Walk. It is also a five-minute drive to Clarke Quay. The upcoming Havelock MRT Station on the Thomson-East Coast Line, which is slated for completion in 2023, will be about 600 metres away from the condo.

Meanwhile, the greatest loss incurred over the week was from the resale of a 1,281 sq ft, one-bedroom unit at the 99-year leasehold Cote D’Azur in District 15. Purchased in March 2013 for $1.65 million ($1,288 psf), the property was sold on May 2 for $1.2 million ($937 psf). The seller sustained a 27% loss of $450,000, or an annualised loss of 5% over a holding period of 6.2 years.

Completed in 2004, Cote D’Azur is a 612- unit development by Frasers Property. The project, located next to the Parkway Parade shopping centre, is a three-minute walk from the upcoming Marine Parade MRT Station on the Thomson-East Coast Line.