Resale at Botanic Gardens Mansion reaps $1.45 mil profit

The resale of a 1,755 sq ft, three-bedroom unit at Botanic Gardens Mansion made the top profit of $1.45 million over the week of Aug 7 to 14 (Credit: Samuel Isaac Chua/The Edge Singapore)
The seller of a unit at Botanic Gardens Mansion, off Napier Road in District 10, made the top gain of $1.45 million over the week of Aug 7 to 14. The 1,755 sq ft, three-bedroom unit on the seventh floor was purchased for $1.45 million ($826 psf) in April 2006, and sold for $2.9 million ($1,653 psf) on Aug 10.
The seller reaped a 100% profit, or an annualised profit of 5.8% over a holding period of 12.3 years. This sale marks the third time the unit has changed hands. The previous owner purchased it in June 2001 for $910,000 ($519 psf), and later sold it at a 59% profit of $540,000.
The highest resale profit of all time at Botanic Gardens Mansion involved a similar-sized, three-bedroom unit on the eighth floor. The seller reaped a 186% profit of $1.95 million over 5.3 years, after selling the unit in March 2011 for $3 million ($1,710 psf). The unit was purchased in December 2005 for $1.05 million ($598 psf).
Meanwhile, the second top gain — a 101% profit of $1.38 million — made during the week in review was at The Sea View, off East Coast Road in District 15. The condominium is a six-minute walk to Katong Shopping Centre and a four-minute drive to Dakota MRT station on the Circle Line. The 1,518 sq ft, four-bedroom unit on the 10th floor, purchased for $1.37 million ($900 psf) in April 2009, was sold for $2.75 million ($1,812 psf) on Aug 8. This means the seller made an annualised profit of 7.8% over 9.4 years.
Notably, the top profit made at The Sea View was from the resale of a 2,809 sq ft, five-bedroom unit on the 22nd floor. The seller raked in a 93% profit of $2.3 million when the unit changed hands for $4.78 million ($1,700 psf) in August 2010. The property was purchased in July 2005 for $2.48 million ($882 psf).
A unit sold at Rosevale, on Lincoln Road in District 11, made the third most profitable transaction over the week in review, raking in a 143% profit of...