Mortgagee sale of duplex penthouse at The Orange Grove for $8.43 mil

SINGAPORE (EDGEPROP) - A three-bedroom duplex penthouse at The Orange Grove — located at Orange Grove Road, just off Stevens Road — is now on sale via private treaty for $8.43 million ($2,083 psf). A mortgagee sale, it was put up for auction by Knight Frank at an opening price of $8.26 million ($2,041 psf) on Feb 4, but was withdrawn when it did not receive any bids.

On the first floor of the 4,047 sq ft penthouse, there are living, dining and family areas, as well as two en suite bedrooms. The master bedroom, which has an en suite bathroom and a walk-in wardrobe, is on the second floor. All the rooms come with balconies that enjoy unblocked views towards the condominium’s pool and clubhouse, as well as Shangri-La Hotel. Additionally, there is a private jacuzzi on the balcony of the master bedroom. The unit has a north-south orientation.

The Orange Grove is a freehold, luxury condominium comprising 72 units in a 12-storey block. Facilities include a swimming pool, jacuzzi, children’s pool, clubhouse and gym. Developed by Ho Bee Land, it was completed in 2010. It is located within 1km of Singapore Chinese Girls’ School and Stevens Road MRT Station.

According to URA caveats lodged, the unit was previously bought in June 2011 for $10.65 million ($2,631 psf) as a new sale.

The latest transaction at The Orange Grove was for a 2,153 sq ft, three-bedroom unit on the ninth floor that changed hands for $4.85 million ($2,253 psf) in July 2018. The highest psf pricing that a unit ever achieved at The Orange Grove was in October 2007, when a 2,153 sq ft unit changed hands for $3,194 psf.

Based on the latest rental transactions of units at The Orange Grove that are above 3,000 sq ft in the past two years, the penthouse could potentially fetch around $15,400 in monthly rental based on $3.80 psf per month.