Unit at Leedon Residence reaps $2.9 mil profit

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/ EdgeProp Singapore
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July 22, 2021 12:28 PM SGT
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SINGAPORE (EDGEPROP) - The seller of a unit at Leedon Residence, located along Leedon Heights, made the top gain of $2.9 million over the week of July 6 to 13. The 4,704 sq ft unit on the seventh floor was bought for $9.6 million ($2,041 psf) in October 2017 and sold for $12.5 million ($2,657 psf) on July 13. The seller therefore made a 30% profit, or an an- nualised profit of 7% over almost four years. (See also: Unit at Grange Residences reaps $3.5 mil profit)
Leedon Residence - EDGEPROP SINGAPORE
The 4,704 sq ft unit at Leedon Residence was sold for $12.5 million ($2,657 psf) on July 13 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 10, Leedon Residence was completed in 2015 and has 381 freehold units. It is a five-minute drive to Holland Village MRT Station on the Circle Line.
The second top gain made over the week — a 27% profit of $2.25 million — was at St Regis Residences, located along Tanglin Road. The 4,069 sq ft unit on the 16th floor was purchased for $8.25 million ($2,028 psf) in April 2015 and sold for $10.5 million ($2,581 psf) on July 9. This means that the seller made an annualised profit of 4% over six years.
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St Regis Residences, in District 10, was completed in 2008 and has 173 units on a 999-year leasehold. It is a seven-minute walk to the up- coming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
A unit sold at Tanglin Park, located along Ridley Park in District 10, made the third larg- est gain over the week, netting a 141% profit of $1.99 million for the seller. The 1,604 sq ft unit on the third floor was bought in Novem- ber 2005 for $1.41 million ($879 psf), and sold for $3.4 million ($2,120 psf) on July 12. The seller therefore made an annualised profit of 6% over almost 16 years.
Tanglin Park comprises 274 freehold units and was completed in 1989. It is a four-minute drive to the upcoming Napier MRT Station on the Thomson-East Coast Line.
BLD MARINA COLLECTION - EDGEPROP SINGAPORE
The most unprofitable deal of the week was the sale of a 2,788 sq ft unit at Marina Collection for $5.1 million ($1,830 psf) (Credit: The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 2,788 sq ft unit at Marina Collection in District 4. Hav- ing sold the property for $5.1 million ($1,830 psf) on July 9, the seller suffered a 32% loss of $2.38 million. The unit was purchased in January 2008 for $7.48 million ($2,684 psf). Over a holding period of 131⁄2 years, this trans- lates into an annualised loss of 3%.
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Marina Collection, located along Cove Drive, comprises 124 units on a 99-year leasehold, and was completed in 2011. It is a 10-minute drive to Harbourfront MRT Interchange Station on the North-East and Circle Lines.

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