Duplex penthouse at The Berth by the Cove for sale at $4.8 mil

A five-bedroom, duplex penthouse at The Berth by the Cove is set to go up for auction at Singapore Realtors Inc’s (SRI) sale on June 22nd. Spanning 3,315 square feet, this owner’s sale is expected to earn $4.8 million, rounding out to approximately $1,448 psf.

Shopping and entertainment needs are also fulfilled with the nearby Hillion Mall, Junction 10, and The Myst CDL. Homeowners will always be spoilt for choice with its diverse mix of F&B outlets, retail and lifestyle stores, and entertainment options.

The current tenancy in the unit is due to expire in November and will be sold as-is. According to the property listing, the lower floor of the penthouse contains a private lift lobby. Moving forward, this area leads into the dining and living areas, with the enclosed kitchen nearby featuring a utility room. On this floor, you’ll also find four bedrooms: Two of which are en suite and two that share a single common bathroom.

The upper floor of the duplex penthouse accommodates the master bedroom with its en suite and walk-in wardrobe, plus a 516 square feet outdoor roof terrace with a small pool. (Picture: SRI)

Standing in the ultra-exclusive residential enclave of Sentosa Cove, The Berth by the Cove is a 99-year leasehold development with two hundred units across fifteen low-rise blocks of six storeys each. Property sizes range from one thousand and twelve to two thousand two hundred and seventy-one square feet, with larger penthouse options spanning from two thousand nine hundred and thirty-nine to six thousand and twenty-eight square feet.

According to URA caveats, only two penthouse units have changed owners in the past two decades, with other owners retaining their units since 2005/2007 respectively. In August 2021, a 6,028 square feet penthouse unit was sold for almost seven million dollars (reflected at $1,161 psf), and another 3,369 square feet penthouse sold for $3.75 million (or $1,113 psf) back in June 2019.

EdgeProp Singapore tabulated rental data from the past twelve months, showing the condo commanding an average rent of $4.90 psf pm. This indicative rental yield sits at around three point seven percent for most landlords.

Rents at The Berth by the Cove have seen an escalation as of late: In 1Q2022, the median rent was at $3.68 psf pm, increasing to $5.40 psf pm in 1Q2023. Average rents over the same period are slightly lower than the other developments along Ocean Drive, with The Azure at Ocean Drive at $5.55 psf pm, The Coast at Sentosa Cove at $5.26 psf pm, and The Oceanfront at Sentosa Cove at $5.53 psf pm.

Conversely, those same developments have higher average prices than The Berth by the Cove. Over the past twelve months, the latter’s average price stood at $1.62 psf, while The Azure at Ocean Drive averaged $1,817, The Coast at Sentosa Cove at $1,791, and The Oceanfront at Sentosa Cove at $1,901.

Belying its seclusion, the Berth by the Cove is within easy reach of many leisure, recreational, and lifestyle amenities. These include F&B outlets and retail offerings at Quayside Isle and One Degree 15 Marina Sentosa Cove, Resorts World Sentosa, Tanjong Golf Course, VivoCity, and Harbourfront Centre. The CBD is only a ten-minute drive away.

RELATED NEWS

Three-bedroom unit at The Berth by the Cove for sale at $2.6 mil

Freehold semi-detached house at Vaughan Road for sale from $5.5 mil

Bank sale of amalgamated five-bedroom unit at Northwood for $3.24 mil

At Singapore Realtors Inc’s (SRI) auction on June 22, a five-bedroom duplex penthouse at The Berth by the Cove will be put up for sale. With a guide price of $4.8 million and an existing tenancy expiring in November, the 3,315 sq ft unit has an implied price of $1,448 psf.

The lower floor comprises a lift lobby, the dining and living areas, a kitchen with autility room, and four bedrooms – two en suite and two with a common bathroom. On the upper floor, the master bedroom features an en suite, walk-in wardrobe, and an outdoor roof terrace with a pool that spans 516 sq ft.

The Berth by the Cove is a 99-year leasehold, 200-unit condo along Ocean Drive in Sentosa Cove. All together, the development stands 15 blocks of six storeys, boasting two-to-four bedroom units ranging from 1,012 sq ft to 2,271 sq ft, plus a variety of penthouse floorplans between 2,939 sq ft and 6,028 sq ft.

Although only two penthouse units have changed ownership in the past two decades, their respective sales indicate growing value for the development. In 2021, a 6,028 sq ft penthouse was sold for almost $7 million ($1,161 psf), and the sale of a 3,369 sq ft penthouse for $3.75 million ($1,113 psf) occurred in June 2019.

EdgeProp Singapore’s rental data from the past twelve months provides an average of $4.90 psf pm in rent, corresponding to a 3.7% implied rental yield. A recent survey shows that the median rent at the development increased from $3.68 psf pm in 1Q2022 to $5.40 psf pm.

Comparing prices from across Ocean Drive, The Berth by the Cove stands at an average of $1,628 psf, lower than The Azure at Ocean Drive ($1,817 psf), The Coast at Sentosa Cove ($1,791 psf), and The Oceanfront @ Sentosa Cove ($1,901 psf). The lack of public transport near the development is more than balanced out by its close proximity to a variety of retail stores, eateries, leisure activities, and malls, all within a 10-minute drive to the CBD.

RELATED NEWS

Three-bedroom unit at The Berth by the Cove for sale at $2.6 mil

Freehold semi-detached house at Vaughan Road for sale from $5.5 mil

Bank sale of amalgamated five-bedroom unit at Northwood for $3.24 mil