One-bedroom unit at Espada for sale at $1.48 mil

SINGAPORE (EDGEPROP) - A one-bedroom-plus-study unit at Espada, which is close to Orchard Road, will be auctioned on March 30. An owner’s sale, the property has a guide price of $1.48 million, says SRI Auction managing partner Mok Sze Sze, who is handling the auction.

The freehold unit measures 646 sq ft and is on the 13th floor. It is tenanted until March 31, 2024, and is being sold with the existing tenancy, says Mok. Based on the floor area, the guide price works out to $2,291 psf.

The apartment has a kitchen and dining area off the main entrance. The living room opens to a balcony overlooking St Thomas Walk and Killiney Road. It runs the length of the entire unit, with the master bedroom and the study having sliding doors that lead out to the balcony.

Espada is a freehold development by Novelty Group which was completed in 2013. Comprising a single 32-storey tower, Espada has 232 apartments. Units comprise one-bedders from 344 sq ft to 667 sq ft, two-bedroom apartments of 723 sq ft, and a penthouse of 1,313 sq ft.

Caveats lodged with URA show that one unit has changed hands at Espada this year — a 377 sq ft, one-bedroom unit on the 11th floor sold for $990,000 ($2,628 psf) on Feb 16. Last year, 11 resale transactions were recorded at the development. The units, ranging between 344 sq ft and 667 sq ft, were sold at prices between $918,000 and $1.62 million, or between $2,055 and $2,680 on a psf basis.

Located off River Valley Road and Killiney Road in prime District 9, Espada is in the St Thomas Walk neighbourhood in prime District 9, which predominantly comprises freehold luxury condos. Neighbouring developments include the 61-unit Skyline 360 @ St Thomas Walk by Hiap Hoe, the 176-unit St Thomas Suites by Frasers Property, and the 250-unit 8 Saint Thomas by Bukit Sembawang Estates. Espada’s facilities include a 40m lap pool, sky lounges on the 14th and 24th floors, heated swimming pools, and a tennis court.

The development is a 10-minute walk to Orchard Road and the Somerset MRT Station on the North-South Line. It is also a 10-minute walk to the Great World MRT Station on the Thomson-East Coast Line. Nearby malls include 313@somerset, Orchard Central and Ngee Ann City — all located on Orchard Road

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