Unit at The Clift going for $1,806 psf

By Angela Teo / EdgeProp Singapore | September 12, 2017 9:00 AM SGT
Located at the corner of McCallum Street and Telok Ayer Street is the 312-unit The Clift. The 43-storey, 99-year leasehold apartment tower has commercial units on the ground level that are occupied by F&B outlets such as Awfully Chocolate, Ash & Char and Huggs café as well as a Guardian personal care store. The property is located just across the road from Amoy Food Centre, which has several Michelin Bib Gourmand hawker stalls, and a short walk from Tanjong Pagar Centre and the Tanjong Pagar MRT station.
Developed by Far East Organization, The Clift was completed in 2011. It contains a mix of one- and two-bedroom apartments of 495 to 818 sq ft, and one- and two-bedroom lofts of 753 to 1,076 sq ft on and above the 32nd floor that offer panoramic city views. Facilities at The Clift include a clubhouse, gymnasium and 25m lap pool, as well as 254 car park lots on the second to ninth floors.
On the market is a one-bedroom, 775 sq ft loft at The Clift. It is up for sale at 1.4 million ($1,806 psf), according to a listing on EdgeProp.sg. The owner is said to be a Chinese national who spent an undisclosed sum renovating it within the last two years. Owing to his frequent business trips, he has been unable to enjoy the apartment and the view from the 36th floor, according to Jon Chin, senior associate marketing director at Propnex Realty, who is marketing the unit.
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The Clift is a 43-storey, 99-year leasehold apartment tower that has commercial units on the ground level
The Clift is a 43-storey, 99-year leasehold apartment tower that has commercial units on the ground level
Chin reckons the new buyer will be able to rent out the unit at $4,500 a month, or a potential rental yield of 3.86%.
There were two transactions at The Clift in August (as at Aug 27), according to caveats lodged with URA. A 548 sq ft, one-bedroom apartment on the 23rd floor was sold for close to $1.07 million ($1,949 psf) and a 527 sq ft, one-bedroom unit on the 27th floor changed hands at $1.05 million ($1,991 psf).
Designed by DP Architects and Japan’s Super Potato, the development won the FIABCI Singapore Property Awards for the Residential (High Rise) Category in 2012.
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According to Far East Organization, The Clift is a redevelopment of the former Natwest Centre, an office building, and was the first office tower in the city to receive government approval for conversion into a high-rise residential block, in 2004. One of the charms of the area is its proximity to the conservation area of Amoy Street, Telok Ayer Street and Ann Siang Road as well as the Tanjong Pagar neighbourhood.
Recent transactions at The Clift, Recent rental contracts for 700 to 800 sq ft units at The Clift
This article appeared in The Edge Property Pullout, Issue 796 (Sept 11, 2017) of The Edge Singapore