Three-bedder at Botanic Gardens Mansion sold for $2.39 mil profit

The sale of a three-bedroom unit at Botanic Gardens Mansion was the most profitable condo resale transaction during the week of July 16 to 23. The 1,755 sq ft unit on the fourth floor changed hands for $3.74 million ($2,132 psf) on July 17. The seller had bought the unit in February 2007 for $1.35 million ($769 psf). As such, they reaped a profit of $2.39 million after owning the unit for nearly 17½ years. This reflects a capital gain of 177%, or an annualised profit of 10.4%, for the seller. This is the most profitable resale transaction recorded at Botanic Gardens Mansion. The profit is 23% higher than the previous record $1.95 profit from the sale of a 1,755 sq ft unit for $3 million ($1,710 psf) in March 2011. Botanic Gardens Mansion is a freehold condo on Taman Serasi, off Cluny Road in prime District 10. The 112-unit development was completed in 1970 and has mainly three-bedroom apartments of 1,399 to 1,755 sq ft. Located just a stone’s throw away from the Tanglin Gate of the Singapore Botanic Gardens, it is one of two developments along Taman Serasi, the other being the 144-unit Botanic Gardens View that was built in the same year. Read also: Four-bedroom unit at Beverly Hill sold for $5.5 mil profit Advertisement Advertisement Only one other unit at Botanic Gardens Mansion has changed hands to date this year, based on caveats lodged: A 1,755 sq ft unit fetched $3.65 million ($2,080 psf) on April 24. The seller, who bought the unit in July 2017 for $2.46 million ($1,400 psf), netted a gain of $1.19 million. The second-highest profit made from a condo resale transaction during the week in review was the sale of a four-bedder measuring 3,821 sq ft at The Arcadia. The second-floor unit was sold for $5.2 million ($1,361 psf) on July 17. The seller acquired it in March 2016 for $3.2 million ($837 psf). This means the seller made a profit of $2 million, reflecting a capital gain of 62.5% after owning the unit for about eight years. The Arcadia is located on Arcadia Road, off Adam Road in District 11. Completed in 1983, the 99-year leasehold development has three 10-storey blocks housing 164 units. These include three-bedroom units of 3,466 to 3,735 sq ft, and four-bedroom units of 3,714 to 4,672 sq ft. There are also five-bedroom, simplex penthouses of 7,503 sq ft. The Arcadia has seen two other resale deals this year, both of which were done above purchase price. On Jan 9, a 3,735 sq ft unit fetched $4.6 million ($1,232 psf). The seller, who had bought the unit in April 2019 for $3.37 million ($902 psf), made a gain of $1.23 million. On Feb 5, a 3,714 sq ft unit was sold for $4.63 million ($1,247 psf). The seller, who had bought the unit in October 2019 for $3.15 million ($848 psf), clocked a $1.48 million profit. Meanwhile, the most unprofitable condo resale transaction during the week in review occurred at Wallich Residence. A 646 sq ft, one-bedroom unit on the 51st floor changed hands for $1.8 million ($2,787 psf) on July 23. It was acquired by the seller in February 2021 for $2.29 million ($3,544 psf). As a result, the seller suffered a loss of about $489,000 (21.4%) after holding the unit for nearly 3½ years. Wallich Residence is a 99-year leasehold luxury condo in the Tanjong Pagar area within District 2. It is the residential component of Guoco Tower, an integrated mixed-use development that includes Grade-A offices, luxury hotel Sofitel Singapore City Centre and retail spaces. At 290m, the 64-storey Guoco Tower is Singapore’s tallest building. Read also: Three-bedder at Pebble Bay sold for $1.6 mil profit Advertisement Advertisement Wallich Residence was completed in 2017 and has 181 units, including one- to four-bedroom units of 614 to 2,034 sq ft. There are also four-bedroom simplex penthouses of 3,509 sq ft as well as a five-bedroom triplex penthouse of 21,108 sq ft. Check out the latest listings for Botanic Gardens Mansion, The Arcadia, Wallich Residence properties