Three-bedder at The Claymore sold at $3.72 mil profit

At The Claymore, the seller of a 2,680 sq ft, three-bedroom unit raked in a $3.72 million profit (121%) on Sept 11. The unit was bought in May 1999 at $3.08 million ($1,149 psf) and sold at $6.8 million ($2,537 psf) to a Singaporean buyer, according to the caveat lodged with URA Realis. The profit works out to about 4% a year over a holding period of more than 18 years.

This marks the highest profit achieved at The Claymore since June 2015, when a 3,348 sq ft, four-bedroom unit on the second floor was sold at a $5.2 million profit.

In September 2009, a 2,680 sq ft unit was sold at a $562,000 (8%) loss. Since then, there have been 18 profitable transactions and one unprofitable deal. Profits ranged from $1.38 million for a 2,680 sq ft unit on the 17th floor to $7.25 million for a 4,919 sq ft unit on the 25th floor. The unprofitable transaction involved the sale of a 3,348 sq ft unit at a $300,000 loss on Aug 18. The unit was purchased for $9.5 million ($2,838 psf) in March 2010.

Developed by Tokyo Land Corp and completed in 1985, The Claymore houses 146 large-sized units. Three- to five-bedroom apartments at The Claymore are between 2,680 and 4,919 sq ft.

The Claymore sits on a 246,000 sq ft plot in the Draycott Drive-Ardmore Park neighbourhood, within walking distance of The Tanglin Club and Raffles’ Girls Secondary School.

Some owners at The Claymore were said to have attempted a collective sale in February 2007 during the collective sale fever of 2006/07. However, they failed to achieve the required 80% consensus. The owners were reportedly looking at an asking price of $1.3 billion.

Over at the Oxley-Orchard area, the seller of a 2,303 sq ft, four-bedroom unit at Belle Vue Residences incurred a $477,800 loss (10%) on Sept 6. This marks the highest loss between Sept 5 and 12, according to caveats lodged with URA Realis for non-landed properties.

The third-floor unit was bought for about $4.98 million ($2,161 psf) in May 2010 and sold at about $4.5 million ($1,954 psf). This works out to an annualised loss of 1.3% over a holding period of 7.3 years.

On Sept 12, a 2,443 sq ft ground-floor unit at Belle Vue Residences was sold at a $272,800 loss, or the third-highest among non-landed transactions between Sept 5 and 12.

Since the completion of Belle Vue Residences in 2010, there have been 18 profitable and 11 unprofitable transactions. Profits ranged from $138,400 for a 2,067 sq ft unit on the second floor to about $3 million for a 2,260 sq ft unit on the ground floor. On the other hand, losses ranged from $6,900 for a 1,938 sq ft unit on the fourth floor to $1.37 million for a 2,239 sq ft unit on the third floor.

Belle Vue Residences is a low-rise, freehold condominium that comprises nine 5-storey blocks with 176 units and 36 private lifts. The condo was designer Toyo Ito’s first residential project in Asia, excluding Japan, according to developer Wing Tai Holdings.