A 2,088 sq ft, three-bedroom unit at Turquoise in Sentosa Cove, along Cove Drive in District 4, will be put up for auction on March 29. The unit is being offered for sale by the owner at a guide price of $3.3 million ($1,580 psf), according to Knight Frank Singapore, which is handling the auction.
The owner, who is a foreigner, wishes to sell as he does not stay in Singapore. He purchased the unit for $5.43 million ($2,599 psf) in November 2007.
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The fifth-floor unit overlooks the waterway and the sea, says Sharon Lee, senior director and head of auction and sales at Knight Frank. Meanwhile, two of the bedrooms have views of the golf courses at Sentosa Golf Club, she adds. The unit will be sold partially furnished. The kitchen is equipped with Miele appliances, she says.
The unit is currently tenanted at $7,000 a month until June this year, with an option for renewal of the existing tenancy. Monthly rentals for similar-sized units at the development have ranged between $7,000 and $7,400, based on caveats lodged with URA for the recent two years.
Completed in 2010, Turquoise has a total of 91 units. Facilities include a gym, clubhouse, BBQ areas, a swimming pool and landscaped garden. The 99-year leasehold development, by Ho Bee Land, is known as “one of the developments in Sentosa with quality finishes", says Lee.
The highest psf price fetched at Turquoise was for a 2,433 sq ft, four-bedroom unit on the fifth floor, at $2,772 psf or $6.74 million. This transacted in October 2007. To date, the average psf price attained at Turquoise is $2,284, based on caveats lodged with URA Realis. Following the initial launch in 2007, the developer has held the remaining units for lease.
The latest transaction at Turquoise was for a 2,433 sq ft, four-bedroom unit on the fourth floor. The unit changed hands at $3.45 million ($1,418 psf) on Feb 1. This unit was originally purchased for $6.3 million ($2,588 psf) in November 2007.
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