Supersized penthouse at The Arc at Draycott for $43.8 mil

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/ EdgeProp Singapore
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August 25, 2019 12:00 PM SGT
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A rare penthouse located in the prestigious Draycott-Ardmore Park enclave is now on the market. It was created by amalgamating two penthouses and offers 360-degree city views.

Amalgamating two apartments, or a penthouse and a typical unit, is not unheard of. What is rare is amalgamating two penthouses in a luxury condo. But that is exactly what an owner did a decade ago at The Arc at Draycott.
The 58-unit, high-end condo was developed by BS Capital and launched in October 2005. There were only two duplex penthouses in the 36-storey residential tower at The Arc at Draycott. Both penthouses had a strata area of 4,144 sq ft each and were a mirror image of each other. They spanned the 35th and 36th floors of the tower, which was completed in 2008.
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The amalgamated 8,299 sq ft penthouse at The Arc at Draycott has unblocked views towards MacRitchie Reservoir (Pictures Credit: List SIR)
The owner, believed to be a foreigner, purchased one of the penthouses shortly after it was launched, and paid $7.25 million ($1,749 psf) for it, according to a caveat lodged in December 2005. Four months later, he bought the second penthouse from the developer, paying $7.5 million ($1,810 psf) for the unit.

Two in one

Subsequent to the purchases of both penthouses, the owner proceeded to obtain the approvals needed from the relevant authorities to amalgamate the two penthouses into one and to reconfigure the property. He spent about US$1.5 million in reconfiguring and planning the space of the unit, including relocation of cabinets and wardrobes as well as rewiring and putting in a Bang & Olufsen sound system in the rooms. Including construction, interior design and fitting out the apartment with customised furniture from B&B Italia, the owner is said to have spent about US$3.5 million in total.
The result is an 8,299 sq ft, seven-bedroom, uber penthouse. On the first level is a spacious living room with a double-volume, 7m ceiling, a dining area, as well as a wet and dry kitchen. There is an en suite bedroom, guest bedroom, home office, entertainment room on the first level.
The house is filled with designer furniture, some custom-made by Italian furniture company B&B Italia
On the second level are four en suite bedrooms including the master suite, two en suite bedrooms, and two jacuzzis. The private roof terrace has an 18m infinity-edged pool and a timber deck for alfresco dining.
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A view from every room

“What makes this penthouse stand out is the 180-degree views from the floor-to-ceiling windows in the grand living room as well as the panoramic views from the roof terrace,” says Leong Boon Hoe, COO of List Sotheby’s International Realty (List SIR). All the rooms in the super-sized penthouse, including the bathrooms, have a view. This is because the project sits on an elevated site on Draycott Drive.
The owner has been using the penthouse as a vacation home for his family. They visit Singapore at least once a quarter, according to Leong. However, the property has been well-maintained over the years by two helpers who clean the place at least twice a week.
“The Arc at Draycott is one of many luxury homes in key cities around the world that the owner has in his portfolio,” says Leong. “The Arc at Draycott ticked all the boxes for him, given its exclusive address in the Draycott-Ardmore Park neighbourhood, proximity to the prime Orchard Road shopping belt, and the quality of the project.”
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The master bedroom with walk-in wardrobe is on the second floor
However, having enjoyed the property for at least 10 years, the owner has decided to put it on the market for sale. The price tag is $43.8 million or $5,277 psf. Phyllis Tan, associate director of investment at List SIR, is the exclusive agent for the penthouse.

‘Billionaires’ belt’

Located near the American Club and Tanglin Club as well as just a short distance from Orchard Road, the Draycott Drive-Ardmore Park enclave is renowned as the “billionaires’ belt”. Singaporean tycoon and investor Peter Lim is a resident of an 11-storey condo block that he owns called Abelia at Ardmore Park.
Across the road from The Arc at Draycott is the 34-unit, ultra-luxurious Sculptura Ardmore. The super penthouse there, at 10,300 sq ft, was said to have been purchased by billionaire angel investor and Facebook co-founder Eduardo Saverin for over $60 million, or $6,000 psf, two years ago.
Word on the street is that Saverin has outgrown the penthouse and has since purchased the most expensive Good Class Bungalow in Singapore, specifically on Nassim Road, for $230 million in May this year.
The Arc at Draycott is located near the American Club and Tanglin Club, and the Draycott Drive-Ardmore Park enclave is renowned as the “billionaires’ belt”
The latest transaction at Sculptura Ardmore, developed by Simon Cheong of SC Global Developments, was for a 3,584 sq ft, four-bedroom unit on the 23rd floor of the 36-storey tower that fetched $16.8 million ($4,687 psf) in July.
Meanwhile, at Le Nouvel Ardmore, a luxury condo with just 43 units developed by Wing Tai Holdings and completed in 2014, another tycoon swept up the 13,573 sq ft, duplex super penthouse for $51 million ($3,757 psf) in 2015. The buyer is said to be Sun Tongyu, one of the 18 co-founders of Alibaba.
The latest transaction at the 36-storey Le Nouvel Ardmore was for a 24th floor, 3,961 sq ft, four-bedroom unit that fetched $17 million ($4,292 psf) last month.

Few big penthouses

In the luxury enclave of Ardmore Park and Draycott Drive, there are very few penthouses that are equivalent in size to the super-sized penthouse at The Arc at Draycott, which is close to 8,300 sq ft, notes List SIR’s Leong.
At the 330-unit Ardmore Park condo, completed in 2001, the penthouses are 8,740 sq ft, five-bedroom duplexes on the 29th and 30th floors. However, the penthouses do not have the same floor-to-ceiling glass windows and unblocked, panoramic views, Leong points out. The new luxury condos also do not feature penthouses of such sizes anymore, he adds.
For price trends, recent transactions, other project info, check out these projects' research page: The Arc at Draycott, Ardmore Park, Le Nouvel Ardmore, Sculptura Ardmore, The Tate Residences, One Draycott, Wallich Residence at Tanjong Pagar Centre,
The 180-degree views from the floor-to-ceiling windows in the grand living room are a stand out feature of the penthouse
Two doors away from The Arc at Draycott is The Tate Residences on Claymore Road. The 85-unit, freehold, high-end development by Hong Leong Holdings was completed in 2009. All the units have been sold except for the 6,565 sq ft, triplex penthouse. The price tag of the penthouse is said to be $35 million ($5,300 psf).
Across the road from The Arc at Draycott are two upcoming developments at Draycott Park. One of them is One Draycott by SDB Asia, the property arm of Malaysian conglomerate, Selangor Dredging Bhd. The 60-unit, freehold One Draycott comprises exclusively two-bedroom apartments. Typical units have sizes of 732 or 797 sq ft. The four penthouses there are also two-bedroom apartments but sport double-volume ceiling height, with sizes of 1,238 or 1,345 sq ft.
One of the penthouses at One Draycott was sold for just under $3.5 million ($2,599 psf) a year ago. Two other two-bedroom units fetched prices of $2.55 million ($3,196 psf) and $2.7 million ($3,689 psf).
Meanwhile, Hong Kong developer Swire Properties is developing Eden at 2 Draycott Park. The new freehold development will have just 20 four-bedroom apartments of over 3,000 sq ft each. The project is designed by British architect Thomas Heatherwick, and is scheduled for completion in 4Q2019.

‘One of a kind’

There has been a lot of interest in one-of-a-kind, super penthouses, especially since British billionaire Sir James Dyson purchased the biggest penthouse in the tallest tower in Singapore, namely the 21,108 sq ft penthouse on the 64th floor of Wallich Residence at Tanjong Pagar Centre.
The penthouse offers 360-degree views and faces Orchard Road and farther away, Marina Bay Sands
For the owner of the 8,300 sq ft penthouse at The Arc at Draycott, “what started out as an interest in creating a one-of-a-kind penthouse by amalgamating two smaller penthouses turned into a love affair with the Draycott-Ardmore Park locale”, says Leong of List SIR.
However, the owner is now looking to upscale to an even bigger property in Singapore, adds Leong. “The owner is therefore looking for a connoisseur who will appreciate the space he has created and the views offered at the penthouse at The Arc at Draycott.”
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