Four-bedroom unit at St Regis Residences for sale at $15.5 mil

SINGAPORE (EDGEPROP) - A 6,060 sq ft unit at St Regis Residences was put up for auction by Knight Frank on Feb 24. An owner’s sale, the four-bedroom unit had a guide price of $15.5 million, which translates to $2,558 psf on the floor area.

The unit is located on the 21st floor. The living room features bay windows and an unblocked view of the landed housing estate along Nassim Road and the surrounding greenery. A study area and a foyer are connected to the living room.

The foyer of the unit leads to a family room and a separate dining room that is connected to the wet kitchen. The en suite master bedroom and the en suite junior master bedroom both feature a dedicated walk-in wardrobe. The other two bedrooms share a connected walk-in wardrobe.

St Regis Residences is a 999-year luxury condominium located on Tanglin Road in prime District 10. The 173-unit development, which is beside the St Regis Singapore Hotel, comprises two 23-storey blocks and has a mix of three- and four-bedroom units. It is also close to the Orchard Road shopping belt, the River Valley and Robertson Quay areas, as well as the Singapore Botanic Gardens, a Unesco World Heritage Site. Nearby luxury residential developments include 3 Orchard-by-the-Park, Cuscaden Reserve, Park Nova, Cuscaden Residences, Boulevard 88 and Four Seasons Park.

When City Developments launched St Regis Residences in May 2006, units had been transacted at an average price of $2,500 to $2,600 psf.

Last year, 15 resale transactions were recorded at St Regis Residences, ranging from $1,850 psf for a 2,594 sq ft unit on the seventh floor that fetched $4.8 million on Jan 5, to $2,903 psf for a 2,756 sq ft unit on the 16th floor that was sold for $8 million on Oct 12. The most expensive unit sold in terms of absolute price was a 7,266 sq ft unit on the 22nd floor that fetched $18 million ($2,477 psf) on March 3.

However, the record absolute price achieved at St Regis Residences was for the sale of a 6,017 sq ft penthouse on the 22nd floor that fetched $28 million ($4,653 psf) in May 2007, a year after the project was launched. At $4,653 psf, it was also the highest psf price achieved in the development to date.

One of the newest luxury developments in the Tanglin area is Park Nova, which was launched last May. The 54-unit freehold development has seen steady sales over the past few months and has moved 35 units, based on URA caveats. The most expensive non-penthouse unit sold there is a 2,906 sq ft unit on the 19th floor that fetched $14.76 million ($5,081 psf) on May 7 last year. Two units have so far been sold by the developer this year: A 2,207 sq ft unit on the 11th floor fetched $10.47 million ($4,748 psf) on Jan 19, while another 2,207 sq ft unit on the seventh floor changed hands for $10.38 million ($4,708 psf) on Feb 1.

Also in the area is Boulevard 88, which was launched in March 2019. The freehold development has 154 units and has achieved an average sale price of $3,774 psf. The latest transaction at Boulevard 88 was for a 1,776 sq ft unit that sold for $6.45 million ($3,630 psf) on Feb 6. Meanwhile, the sub-sale of a 2,777 sq ft unit changed hands for $12.5 million ($4,501 psf) on Jan 12.

Hence, at $2,558 psf, the price of the 6,060 sq ft, four-bedroom unit at St Regis appears to be attractive.