Unit at Reflections at Keppel Bay on the market for $2.84 mil

SINGAPORE (EDGEPROP) - A three-bedroom unit at Reflections at Keppel Bay, along Keppel Bay View in District 4, will be put up for auction for $2.84 million ($1,724 psf) on Aug 25, according to Edmund Tie, which is handling the bank auction. (See also: Three-bedroom unit at Reflections at Keppel Bay for sale at $2.45 mil)

Spanning 1,647 sq ft, the unit is on the third floor of the development. It is a corner unit, offering the homeowner “a lot of privacy”, says Joy Tan, senior director, head of auction and sales at Edmund Tie. The unit overlooks the yacht berths with green surroundings, and has a north-south orientation, she adds.

It is well-kept and in a move-in-ready condition, so investors will not need to spend much on renovations, says Tan.

The unit was first purchased for $3.77 million ($2,287 psf) in August 2012, based on caveats lodged with URA.

“We have received quite a lot of enquiries [for this property]. Most of the prospects are looking for investment as the upcoming plans for Greater Southern Waterfront could add value to the property, with more new housing, amenities and entertainment uses,” notes Tan. The Greater Southern Waterfront extends from Pasir Panjang to Marina East over an area of 2,000ha, and the Singapore government has planned for it to be transformed into a major gateway for urban living along the city-state’s southern coast.

Tan believes that “owners will be keen on this unit, as this development provides unique amenities for their residents to enjoy the resortstyle living and yet is still near workplaces in the CBD”.

Rentals fetched at similar-sized units at Reflections at Keppel Bay from May to July this year ranged from $6,600 to $8,100 per month, according to URA data.

The most recent transaction at the development was on Aug 5, when a 980 sq ft unit on the 20th floor changed hands for $1.5 million ($1,526 psf). On July 22, an 893 sq ft unit on the eighth floor was transacted at $1.47 million ($1,645 psf), based on URA caveats lodged.

Reflections at Keppel Bay comprises 1,129 units, and was completed in 2013. The development is a five-minute walk to Telok Blangah MRT Station along the Circle Line.

Recreational facilities and walking trails near the development include Mount Faber, Labrador Nature Reserve, Telok Blangah Hill Park, Hort Park and Kent Ridge Park.

Educational institutions within close proximity to Reflections at Keppel Bay include CHIJ Saint Theresa’s Convent, Shelton College International, International School Singapore and SP Jain School of Global Management