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

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September 22, 2017 7:00 PM SGT
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.
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On Sept 11, a 2,680 sq ft, three-bedroom unit at The Claymore was sold at a $3.72 million profit. Find the most affordable listing at the development here
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.
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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.
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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.
Belle Vue Residences is a low-rise, freehold condominium in the Oxley-Orchard area. Find the most affordable listing in the project here
This article appeared in The Edge Property Pullout, Issue 798 (Sept 25, 2017) of The Edge Singapore.