Resale unit at Leonie Gardens reaps $1.8 mil profit

The seller of a unit at Leonie Gardens made the top gain of $1.83 million over the week of June 26 to July 2. The 1,733 sq ft, three-bedroom unit on the 14th floor was bought for $860,000 ($496 psf) in July 2005 and sold for $2.69 million ($1,551 psf) on July 2. The seller made a 213% profit, or an annualised profit of 9% over 14 years.

Located in prime District 9, Leonie Gardens was completed in 1993 and comprises 138 99-year leasehold units. It is nine minutes by foot to the upcoming Great World MRT Station on the Thomson-East Coast Line, which is expected to be completed in 2021.

The second top gain made over the week – a 48% profit of $1.45 million – was at Sky@ Eleven, off Thomson Road in District 11. The 2,713 sq ft, four-bedroom unit on the 20th floor was purchased for $3 million ($1,106 psf) in August 2008 and sold for $4.45 million ($1,641 psf) on June 27. This means that the seller made an annualised profit of 4% over 11 years.

Along Thomson Lane, Sky@Eleven comprises 273 freehold units across 43 storeys and was completed in 2010. It is a 16-minute walk to Caldecott MRT Station on the Circle Line.

A unit sold at The Trevose, off Dunearn Road in District 11, made the third most profitable transaction over the week, netting a 99% profit of $1.31 million for the seller. The 1,894 sq ft, four-bedroom unit on the fourth floor was bought in October 2003 for $1.32 million ($696 psf), and sold for $2.63 million ($1,388 psf) on June 28. The seller therefore made an annualised profit of 4% over 16 years.

The Trevose, completed in 2001, comprises 142 units on a 99-year leasehold. It is a seven-minute walk to Stevens MRT Station on the Downtown Line.