DEAL WATCH: Three-bedroom unit at Reignwood Hamilton Scotts going for $8 mil

/ EdgeProp
June 16, 2018 8:00 AM SGT
Each unit in Reignwood Hamilton Scotts features an en suite garage that can fit two cars (Credit: Samuel Isaac Chua/The Edge Singapore)
A three-bedroom unit at Reignwood Hamilton Scotts is up for sale at $8 million ($2,904 psf). The 2,756 sq ft unit is situated on the 20th floor of the 30-storey tower and has an unobstructed view of the greenery at Goodwood Hill.
The freehold Reignwood Hamilton Scotts comprises 56 units and was completed in 2012. Developed by KOP Properties, formerly known as Hamilton Scotts, it is famous for being the first high-rise condominium in Singapore — and in the world — to have an en suite garage for each unit. All units are identical three-bedroom apartments of 2,756 sq ft with an en suite garage that can fit two cars, and a dedicated car lift.
In 2013, a year after completion, the special-purpose vehicle holding the remaining units in the development was sold to Thai-Chinese conglomerate Reignwood Group. The project was then renamed Reignwood Hamilton Scotts.
The owner of the unit currently on the market is looking to sell, as he is on the hunt for a bigger unit, preferably one with five bedrooms, according to marketing agent Melvin Lim, group district director at Propnex Realty. The owner is a foreigner who purchased it in 2013 for $9.4 million and spent close to $500,000 renovating it.
The owner never moved in and the unit was never tenanted either, adds Lim. It will be sold partially furnished.
There has been no transaction at Reignwood Hamilton Scotts this year. The last one in the luxury condo was in December 2017, when another unit on the third floor was sold for $8.4 million ($3,048 psf). Last August, a fifth-floor unit fetched $10.8 million ($3,919 psf), according to caveats lodged.
Lim therefore believes the asking price of the unit is attractive, given its location and the earlier transaction prices.