Paradise Island villa up for sale at $11.5 mil

By
/ EdgeProp Singapore
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March 16, 2019 12:49 PM SGT
Last year, 11 bungalows at Sentosa Cove were sold for a total of $180.17 million ($1,707 psf). Three of the 11 bungalows were located on Paradise Island, one of five man-made islands in Sentosa Cove.
The latest transaction for Paradise Island was in October, when a bungalow sitting on a 9,236 sq ft site fetched $14 million ($1,516 psf), according to a caveat lodged then.
View of the waterway from the attic level of the villa at 20 Paradise Island (Credit: Samuel Isaac Chua/EdgeProp Singapore)
Paradise Island was also where a record price in both absolute and psf terms was first set in May 2010: the biggest villa there sitting on a 14,983 sq ft plot, with a wide frontage, fetched $36 million ($2,403 psf).
This record was broken in 2012, when a house fronting the sea and sitting on a land area of 15,931 sq ft at Cove Drive was sold for $39 million ($2,448 psf).
The house at 20 Paradise Island has a swimming pool and a private berth (Credit: Samuel Isaac Chua/EdgeProp Singapore)
On the market now is another villa, at 20 Paradise Island. The property sits on an 8,170 sq ft, 99-year leasehold site fronting the waterway and comes with a private berth. The owner of the house, said to be a young and successful Singaporean entrepreneur, had purchased the property in a sub-sale in October 2007 for $13 million ($1,591 psf). “He bought it for his collection of luxury properties,” says Jeffrey Sim, associate executive director of OrangeTee & Tie.
Having held the property for 12 years, the owner has decided to sell it, with Sim as the appointed exclusive marketing agent. The owner has never lived in the property, which has been tenanted over the years.
Living and dining area on the first level overlooks the swimming pool and the waterway (Credit: Samuel Isaac Chua/EdgeProp Singapore)