One-bedroom unit at Wallich Residence for sale at $1.8 mil

A 646 sq ft, one-bedroom unit at Wallich Residence in District 2’s Tanjong Pagar will be put up for sale at Edmund Tie’s auction on Aug 28. The 46th-floor unit is an owner’s sale, with a guide price of $1.8 million, which translates to $2,786 psf. The unit includes a combined living, dining, and kitchen area, a master bedroom, and an en suite bathroom. It also boasts views of the sea near Tanjong Pagar and Sentosa. According to Joy Tan, head of auction and sales at Edmund Tie, this will be the first time the property is offered for sale via auction. Based on URA caveats, the owners bought the unit from the developers for $1.94 million ($3,009 psf) in December 2013, shortly after the project launched. Read also: Three-bedder at Botanic Gardens Mansion sold for $2.39 mil profit Advertisement Advertisement Only one unit has changed hands at Wallich Residence so far this year. On July 23, a similar 646 sq ft, one-bedroom unit on the 51st floor was sold for $1.8 million ($2,786 psf). Last year, the project saw six transactions with an average price of $3,136 psf. In terms of psf-price, deals have ranged from $5.19 million ($2,955 psf) for a 1,755 sq ft, three-bedroom unit on the 42nd floor to $3.3 million ($3,600 psf) for a 915 sq ft, two-bedroom unit on the 53rd floor. Tan says the unit being auctioned has a current tenancy ending in September 2025. This gives the future owner the chance to start earning rental income immediately. The property currently generates $6,800 in monthly rent, reflecting a rental yield of 4.5% based on the guide price of $1.8 million. Based on existing URA rental caveats tabulated by EdgeProp Singapore’s research tools, the average monthly rent at Wallich Residence over the past 12 months is approximately $10.50 psf. This rate implies a rental yield of 4.1% for landlords over the same period. Completed in 2017, Wallich Residence is the luxury residential component of the Guoco Tower integrated development in Tanjong Pagar. It features 181 units, including one- to two-bedroom apartments ranging from 614 sq ft to 1,259 sq ft and three- to four-bedroom units from 1,098 sq ft to 1,991 sq ft. Additionally, the residence includes five penthouses, ranging from 3,509 sq ft to 21,108 sq ft. Guoco Tower features 38 floors of Grade-A office space and 100,000 sq ft of retail and dining options. The Wallich Residence occupies the 39th to 46th floors of this 64-storey skyscraper, directly above Tanjong Pagar MRT Station on the East-West Line. Read also: Mortgagee sale of penthouse at Maple Woods for $6.2 mil Advertisement Advertisement Check out the latest listings for Wallich Residence properties