UNDER THE HAMMER: Mortgagee sale of penthouse at Helios Residences for $8.1 mil

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/ EdgeProp Singapore
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September 2, 2018 7:00 PM SGT
A 3,993 sq ft, triplex penthouse at Helios Residences will be put up for auction for the second time by Knight Frank Singapore on Sept 19. It was first put up for auction on Aug 21, at an opening price of $8.1 million ($2,029 psf). As there were no bids, the property was withdrawn.
This is the first mortgagee sale at Helios Residences, according to Sharon Lee, senior director and head of auction and sales at Knight Frank. However, in 2015, a 1,701 sq ft, three-bedroom unit on the 12th floor was put up for liquidator’s sale, also by Knight Frank. The unit was later successfully sold for $3.68 million ($2,164 psf) by private treaty, according to a caveat lodged in March 2016.
Helios Residences comprises two 20-storey blocks with a total of 140 units including three penthouses (Credit: Samuel Isaac Chua/ The Edge Singapore)
Helios Residences, a freehold development by Wing Tai Asia, was completed in 2011. It comprises two 20-storey blocks with a total of 140 units including three penthouses.
The four-bedroom penthouse on the 19th floor will be sold with vacant possession on an “as is where is” basis. The previous owner, believed to be a foreigner, purchased it in October 2012 for $12.5 million ($3,130 psf).
The unit has a private lift that is accessible to all three levels. The third level is the roof terrace. The dining area, on the first level, has an adjoining balcony. Three of the four bedrooms come with en suite bathrooms. There is an outdoor Jacuzzi on the second storey.
According to Lee, the luxury penthouse offers unblocked views of the conservation terraced houses at the Cairnhill area as well as the city skyline.
There have been two other resale transactions at Helios Residences this year. According to caveats lodged, the most recent transaction was in April, when a 1,313 sq ft, two-bedroom unit on the 13th floor changed E Mortgagee sale of penthouse at Helios Residences for $8.1 mil hands for $3.05 million ($2,323 psf). In January, a 1,701 sq ft, three-bedroom unit on the 14th floor fetched $3.98 million ($2,340 psf).
For price trends, recent transactions, other project info, check out the Helios Residences project details page
The view of the Cairnhill conservation area from the living room of the penthouse that will be auctioned (Credit: Knight Frank Singapore)