Unit at The Coast at Sentosa Cove on the market for $5.6 mil

SINGAPORE (EDGEPROP) - A three-bedroom duplex penthouse unit at The Coast at Sentosa Cove, along Ocean Drive in District 4, will be put up for owner auction for $5.6 million ($1,581 psf). The auction is tentatively scheduled for Oct 19, which could be subject to change based on the government’s latest Covid-19 measures, says Joy Tan, senior director, head of auction and sales, at Edmund Tie, which is handling the auction.

The property was first put up for auction on Sept 29, but no bids were received, shares Tan.

The property spans 3,541 sq ft and is in a “well-kept, move-in condition”, describes Tan. It comprises three bedrooms, a utility room, household shelter and a private jacuzzi, and is served by a private lift access.

“The unit offers stunning, unblocked views of the sea from the living room and master bedroom, and views of the waterway and city skyline from the two common bedrooms,” she says.

Tan adds: “The master bedroom is found on the upper level, and extends out to a patio area with a private jacuzzi for a private space to enjoy the open sea.”

Meanwhile, the common bedrooms can each fit a queen-sized bed.

The development also offers private yacht berths for residents, and other resort-like facilities such as a swimming pool, wading pool, jacuzzi, fully equipped gym, function room and barbecue pits.

“The owner is local and uses this property as one of his investment units for rental purposes. He believes now is the right time to move on with his investment,” she shares.

“The unit is currently tenanted out to an expatriate family till December 2021, and the new owner can negotiate for an extension of their tenancy or purchase it with vacant possession after December 2021,” highlights Tan.

This year, rentals fetched at units above 3,000 sq ft at The Coast at Sentosa Cove have ranged from $9,000 to $13,700 a month, according to URA data.

So far, “we have received good interest from investors looking to enter Sentosa, as well as a few foreigners looking for [a unit for] their own stay”, Tan notes.

The most recent transaction at the development was on Sept 17, when a 2,024 sq ft unit on the sixth floor changed hands for $3.38 million ($1,670 psf). On Aug 10, a similar-sized unit on the seventh floor was transacted at $3.35 million ($1,655 psf), based on URA caveats lodged.

Completed in 2009, The Coast at Sentosa Cove comprises 249 units on a 99-year leasehold. It is a 15-minute drive to Harbourfront MRT Station on the North-East Line and Circle Line.