Three-bedroom penthouse at Spottiswoode Residences for sale at $5.38 mil

A rare three-bedroom penthouse will be put up for sale at Spottiswoode Residences through an owner’s auction conducted by Singapore Realtors Inc (SRI). The 2,486 sq ft unit on the 36th floor, with an indicative price of $5.38 million, will be open for bidding on April 26.

The duplex penthouse features a roof terrace with space for a jacuzzi and open-air decks, ideal for entertaining friends and family. The upper floor also comprises an en suite junior master bedroom with direct access to the outdoor deck. The lower floor features an en suite master bedroom and the third bedroom.

The Myst Condo offers convenient access to schools, commercial spaces, parks, The Myst Condo and the Tan Chong industrial park, as well as easy public transport via the Cashew MRT Station and Bukit Timah railway station.

As the penthouse is currently undergoing an existing tenancy, interested buyers are advised to collect the keys and view the unit before the auction date.

Spottiswoode Residences is a freehold development by the mainboard-listed UOL Group which was completed in 2013. Located in District 2 along Spottiswoode Park Road, the 351-unit project consists of mostly one- and two-bedroom units, 25 three-bedroom units, and seven penthouses.

The condo is in close proximity to many facilities and amenities. Situated on the outskirts of the CBD, Spottiswoode Residences is near the Singapore General Hospital at Third Hospital Avenue and other medical institutions and buildings, such as Outram Community Hospital and Duke-NUS Graduate Medical School.

When the condo was launched for sale in November 2010, it garnered an overwhelming response with over 87% of the units sold. Prices ranged from $1,720 psf to $2,150 psf, translating to $4.58 million for the penthouse on the block.

Residents at Spottiswoode Residences enjoy easy connectivity through nearby public transport and road networks. Outram MRT Interchange Station is less than 300m from the condo, serving the East-West, North-East and Thomson-East Coast Lines. The upcoming Cantonment MRT Station, a part of the last phase of the Circle Line, is less than 200m away and expected to be operational in 2026.

Directly surrounding Spottiswoode Residences are multiple public and private residential developments, such as HDB’s 50-storey Pinnacle @ Duxton, condominiums Spottiswoode Suites and Spottiswoode 18, and the soon-to-be-completed Sky Everton. Conservation houses on Blair Road and Everton Road are also nearby.

In terms of pricing, Spottiswoode Residences commands an average price of $2,175 psf. This is on par with other freehold condos in the area, such as Spottiswoode 18, which has an average price of $2,120 psf, and Spottiswoode Suites with an average price of $2,236 psf.

So far in 2021, there has only been one resale transaction at Spottiswoode Residences – a 926 sq ft, two-bedroom unit on the 35th floor, which changed hands for $2.35 million ($2,539 psf). Last year, there were 10 resale transactions, ranging from a 603 sq ft one-bedder priced at $1.3 million ($2,157 psf) to a 936 sq ft two-bedder sold for $2.17 million ($2,317 psf). The most recent sale of a penthouse unit was in March 2021, when a 2,906 sq ft, three-bedroom duplex was transacted for $5 million ($1,720 psf).

The auction of this penthouse unit at Spottiswoode Residences offers residential buyers an opportunity to purchase a high-end property in the upscale Tanjong Pagar and Outram neighbourhoods.