Parc Rosewood unit up for auction at $1.08 mil

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/ EdgeProp Singapore
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January 10, 2020 8:00 AM SGT
Parc Rosewood (Credit: Samuel Isaac Chua/ The Edge Singapore)
SINGAPORE (EDGEPROP) - A 1,335 sq ft, two-bedroom penthouse unit at Parc Rosewood, along Rosewood Drive in Woodlands, will be put up for auction on Jan 21 at a guide price of $1.08 million ($809 psf), according to Edmund Tie, which is handling the auction.
The fifth-floor penthouse has two levels, and overlooks the greenery of the Mandai area, says Joy Tan, head of auction and sales at Edmund Tie. “The panoramic unobstructed view is very rare in Singapore and offers the residents peace and respite from a busy lifestyle,’’ she adds.
Potential residents would also be able to enjoy their own private jacuzzi at the roof terrace with unblocked views of the greenery, she says.
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The unit was first purchased in February 2012 for $978,361 ($733 psf).
Based on records logged with the URA, units at the development with sizes of 1,300 to 1,400 sq ft can fetch rentals of $2,200 a month. Rental income could come from tenants working at the nearby Singapore American School, the Woodlands Industrial Estate or the future Mandai eco-tourism hub, says Tan.
Completed in 2014, Parc Rosewood is a 99-year leasehold development in District 25 comprising 689 units. It sits on a large site of 294,716 sq ft, she says, which allows for full facilities and several swimming pools to be spread out between the residential blocks. Other facilities include a tennis court, gym, playground, jogging track, clubhouse with lounge, and a barbecue area.
So far, the property has attracted interest from singles and couples who are looking for a home away from the hustle and bustle of city life, says Tan. She adds that it is convenient as there is a bus stop right outside Parc Rosewood that brings residents to Woodlands Central or directly to town.
Meanwhile, potential investors who are keen to invest in Parc Rosewood could be “drawn to the potential catchment of tenants and future capital appreciation, once the nearby Mandai eco-tourism hub is up and running and opened to the public”, notes Tan.
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