Mortgagee sale of five-bedroom, dual-key unit at Marina Collection for $5.7 mil

SINGAPORE (EDGEPROP) - A five-bedroom, dual-key unit at the luxury condominium Marina Collection, located in the Sentosa Cove residential enclave, will be put up for auction on Dec 15 by SRI. A mortgagee sale, the property has a guide price of $5.7 million, which works out to $1,742 psf based on its total floor area of 3,272 sq ft. The unit was first put up for auction by SRI on Nov 18 and has yet to find a buyer.

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The property comprises a four-bedroom apartment and a separate studio apartment with its own entrance. Located on the first floor, the unit has views overlooking the marina. It also comes with a private lift lobby and a private pool. The four-bedroom apartment features a spacious living area that overlooks the pool and an outdoor deck. There is also a dining area, dry and wet kitchens, a service yard and a utility room. In addition to the master bedroom, there is another en suite bedroom, while two other bedrooms share a common bathroom. Meanwhile, the studio apartment has a bathroom and a kitchenette.

Completed in 2011, Marina Collection is a 99-year leasehold development by Indonesian conglomerate Lippo Group. Located along Cove Drive, adjacent to One Degree 15 Marina Sentosa Cove, it has 124 units spread across three 4-storey blocks.

Eight units at Marina Collection have changed hands this year based on caveats lodged. The most recent sale was on Nov 10, when a 3,412 sq ft unit on the fourth floor was sold for $5.05 million, or $1,480 psf. On July 18, a 3,789 sq ft unit was sold for $7.15 million ($1,887 psf). This sale marked the highest transaction recorded at Marina Collection on a psf price basis since January 2020, when a 3,412 sq ft unit was sold for $6.5 million ($1,905 psf). Other units sold at Marina Collection this year measured between 2,185 sq ft and 3,940 sq ft, with prices ranging from $3.7 million to $7.1 million on an absolute basis or between $1,693 psf and $1,847 psf.

Marina Collection is located near F&B outlets and retail offerings at Quayside Isle and One Degree 15 Marina Sentosa Cove. It is just a 10-minute drive to VivoCity and the CBD.