Duplex penthouse at Parc Imperial for sale at $1.78 mil

Parc Imperial is a freehold apartment on Pasir Panjang Road. The 138-unit property was completed in 2010 by local property developer Fragrance Group. It is 200m from Haw Par Villa MRT Terminal on the Circle Line. Major road connectivity in the location is via the West Coast Highway and Pasir Panjang Roadway.

A duplex penthouse at Parc Imperial in District 5 will certainly be on the block at Edmund Tie’s upcoming public auction on June 21. The unit is also offered for private treaty arrangement. An owner’s sale, the 1,195 sq ft unit has an overview cost of $1.78 million, translating to $1,490 psf on the flooring location.

Based on resell warnings lodged in the previous 5 years, one of the most expensive unit that has actually changed hands at Parc Imperial is a 1,948 sq ft, three-bedroom double penthouse that was sold for $1.95 million ($1,001 psf) in December 2021. This was followed by the revenue of a 2,304 sq ft duplex penthouse for $1.78 million ($773 psf) in October 2020.

Pasir Panjang enjoys distance to the well established Mapletree Company City at Pasir Panjang Roadway, Alexandra Technopark at Alexandra Roadway, the National University of Singapore, and also the one-north downtown.

The Botany at Dairy Farm Sim Liam Group

According to the residential property advertisement, the unit will be offered with a presenting occupancy about to expire in December 2024. The reduced floor makes up a living and food location with a nearby porch, kitchen space, home shelter, and lavatory. The top floor consists of the en suite master bedroom, an attached al fresco veranda, and also 2 different en suite bedrooms.

Despite the brand-new ventures, Parc Imperial regulates a practical normal market price of concerning $1,766 psf, based upon a collection of resale caveats over the past year. One unit has been sold up until now this year– a 398 sq ft, one-bedroom unit that fetched $735,000 ($1,845 psf) on April 27.

An inventory of leasing data at Parc Imperial by EdgeProp Singapore reveals that the condo regulates an average rent of $7.35 psf each month (pm). This is high contrasted to adjoining property developments for instance, The Orient at Pasir Panjang Roadway ($5.38 psf pm), Horizon Residences at Pasir Panjang Hill ($4.63 psf pm), and The Peak @ Balmeg on Balmeg Hill ($4.03 psf pm).

Additionally close-by is The Southern Ridges, a 10km park which connects Mount Faber Park, Telok Blangah Hill Park, HortPark, Kent Ridge Park, Labrador Nature Reserve and also Henderson Waves, a pedestrian bridge crossing at Henderson Road. The location will certainly also be at the doorstep of the upcoming Greater Southern Waterfront, which extends throughout 30km of the southerly coast from Gardens by the Bay East to Pasir Panjang and will certainly consist of public and private property.

One of the most recent brand-new release in the location is the 270-unit property Terra Hillside. This condominium situated on Yew Siang Road off Pasir Panjang Road was released in February this year, as well as customers grabbed 102 units (38%) more than the first deals release weekend, establishing a typical price of about $2,650 psf.

At least 3 brand-new properties have sprung up in the Pasir Panjang area close to Parc Imperial. In April 2018, The Verandah Residences by Oxley Holdings opened to a strong first sales launch, with customers snapping up 129 units (76%). The 170-unit property on Pasir Panjang Roadway was completely sold by June by Oxley Holdings, followed up on The Veranda Residences’ results with its 250-unit Kent Ridge Hill Residences on South Buona Vista Road. On its start day on Nov 10, 2018, it sold off 110 units (44%). The project was 98% sold since July in 2022 with an average price of $1,950 psf.

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