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Reignwood Hamilton Scotts seller rakes in $2.6 mil profit

By Angela Teo

/ EdgeProp |

September 10, 2017 9:00 AM SGT

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At Reignwood Hamilton Scotts, the seller of a 2,756 sq ft, three-bedroom unit made a $2.67 million profit (33%) after holding the property for 4.7 years. This translates into a profit of 6% a year.

The seller raked in the highest profit among non-landed transactions between Aug 22 and 29. According to the caveat lodged with URA, the buyer — a company — bought the unit on Aug 27 at $10.8 million ($3,919 psf).

This marks the only transaction at the 30-storey Reignwood Hamilton Scotts this year, and the most profitable since its completion in 2012. Located on the fifth floor, the unit was purchased by the seller on Nov 30, 2012 in a sub-sale, at around $8.13 million ($2,950 psf).

On Aug 27, a three-bedroom unit at Reignwood Hamilton Scotts was sold for a $2.67 million profit. Find the most affordable listing in the project at edgepr.link/ ReignwoodHamiltonScotts.

On Aug 27, a three-bedroom unit at Reignwood Hamilton Scotts was sold for a $2.67 million profit. Find the most affordable listing in the project here

Developed by KOP Properties, the 56-unit Reignwood Hamilton Scotts is a condominium located within walking distance of the Newton MRT Interchange and near the Orchard Road shopping belt. It was previously known as Hamilton Scotts and renamed after it was acquired by Thai-China conglomerate Reignwood Group in 2013.

The freehold Reignwood Hamilton Scotts is known for having an elevated car porch in each unit, with glass lifts that bring each owner’s car up to their individual residences.

At One Tree Hill Residence, a 1,130 sq ft, three-bedroom unit was sold at a $529,600 (19%) loss after a holding period of close to 10 years. The unit was bought in November 2007 at $2.7 million ($2,420 psf).

Since its completion in 2008, One Tree Hill Residence has seen six profitable and 15 unprofitable transactions. Profits ranged from $69,890 for a third-floor, three-bedroom unit to $797,838 for a 16th-floor, four-bedroom unit. Meanwhile, the losses ranged from $61,240 for a ninth-floor, three-bedroom unit to $833,510 for a third-floor, three-bedroom unit.

All except two of the unprofitable transactions at One Tree Hill Residence since its completion involved units purchased in 2007, before the 2008 global financial crisis.

The 48-unit One Tree Hill Residence is located close to the 30-unit One Tree Hill Mansions and the 13- unit One Tree Hill Gardens — sold this May for $65 million in the first collective sale of 2017. Developed by Soilbuild Construction Group, the freehold One Tree Hill Residence is within walking distance of the future Orchard Boulevard MRT station.