UNDER THE HAMMER: Duplex penthouse at Fontaine Parry going for $2.2 mil

At Fontaine Parry in District 19, a 2,303 sq ft duplex penthouse will be put up for its first auction on April 30, according to the auctioneer at Edmund Tie & Co (ET&Co). This is an owner’s sale, and the unit has a guide price of $2.2 million ($955 psf).

Fontaine Parry is a 999-year leasehold, lowrise condominium by Grensburg Investment, and was completed in 2010. Located at Poh Huat Road, off Yio Chu Kang Road and Upper Serangoon Road, Fontaine Parry has 125 units in a total of seven 5-storey blocks. The units range from 850 sq ft, two-bedroom apartments, to 2,309 sq ft, four-bedroom penthouses.

The three-bedroom penthouse unit to be auctioned is located on the fifth floor. It will be sold with tenancy. It is currently tenanted at $3,500 a month, and the tenancy has just been extended for another year till April 2020. The Singaporean owner purchased the unit for investment at $1.373 million ($596 psf) from the developer in August 2007, according to the caveat lodged in URA Realis.

Based on caveats, Fontaine Parry saw only one resale transaction this year. On March 26, a 1,206 sq ft three-bedroom unit on the fourth floor was sold for $1.42 million ($1,178 psf). Last year, three duplex penthouses comparable to the one up for auction, were transacted. In March, a 2,120 sq ft unit was sold at $2.18 million ($1,028 psf); in August, a 2,120 sq ft unit was sold for $2.218 million ($1,046 psf); and in September, a 1,991 sq ft unit was transacted at $2.018 million ($1,013 sq ft).

The duplex penthouse to be auctioned has an open roof terrace on the upper level. On the lower level is the living and dining area. The occupant can enjoy the pool view from the living area, which extends to the balcony, as well as from the ensuite master bedroom, notes Joy Tan, head of auction and sales at ET&Co. There are also two other bedrooms and a shared bathroom on the level. The two bedrooms and roof terrace look over the surrounding landed estate.