Freehold duplex at Palmera Residence going for $1.38 mil
By Valerie Kor / EdgeProp Singapore | May 8, 2020 6:00 AM SGT
SINGAPORE (EDGEPROP) - A freehold duplex unit with a private swimming pool at Palmera Residence is being offered for sale for $1.38 million ($922 psf) via private treaty. The 1,496 sq ft unit is put on sale by a bank. The condominium is located along Lorong N Telok Kurau.
On the lower level of the ground-floor unit are a family area, enclosed kitchen, utility room, common bathroom, and common bedroom. The common bedroom extends out to a private swimming pool. On the upper floor are a spacious living area and an en suite bedroom. The two-bedroom-plus-study unit was last purchased for $1.18 million ($789 psf) in January 2011.
Joy Tan, head of auctions at Edmund Tie, says that the asking price of $1.38 million is “very affordable”. She adds: “Such maisonette units on the ground floor are not very common as duplexes are usually penthouse units.” The private pool is estimated to be around 2.5m by 4m in size.
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The property is located near famous cafes and eateries along East Coast Road such as Mad Nest, Penny University and Beach Road Prawn Noodle House. It is a short drive to shopping malls such as 112 Katong (which is closed for renovation until 2021), Parkway Parade and PLQ Mall at Paya Lebar Quarter. East Coast Park and the beach are a short bike ride away.
The nearest MRT station will be the upcoming Marine Terrace MRT Station on the Thomson-East Coast Line, which will be a six-minute walk away. The station is slated for completion in 2023. The development enjoys access to direct bus routes to the CBD and Orchard Road, and it only takes approximately half an hour to reach the City Hall MRT Station or the Orchard shopping belt.
Tan says that the duplex is suitable for families with school-going children as the condominium is near top schools such as Tao Nan School, CHIJ (Katong) Primary and Ngee Ann Primary School. Victoria School, Victoria Junior College and Canadian International School (Tanjong Katong Campus) are also in the vicinity.
“The unit will appeal to property investors too, as it can be converted into a dual-key apartment with two separate entrances, allowing the owner to use one of the bedrooms and rent out the other as a standalone apartment,” adds Tan.
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Palmera Residence was developed by World Class Land, the property development arm of jewellery retailer Aspial Corp. Completed in 2011, the project contains just 38 units.
The unit is scheduled to be put up for auction by Edmund Tie on June 24. It is now available for sale by private treaty.
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