10 apartments at Martin Modern, Wallich Residence up for auction at $2.238 mil to $6.78 mil
The phased release of forfeited prime homes may expand near-term luxury resale supply and provide price-discovery opportunities for owner-occupiers and investors in River Valley and Tanjong Pagar.
Six Martin Modern and four Wallich Residence apartments linked to Singapore’s $3 billion money-laundering case will be auctioned on Sept 23 for $2.238 million to $6.78 million.
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Six units at the Martin Modern leasehold condo in River Valley and four units at the Wallich Residence leasehold project within Guoco Tower in Tanjong Pagar will be going under the hammer at SRI’s upcoming auction on 23 Sept.
Guide prices range from $2.238 million to $4.98 million for the Martin Modern apartments, and $4.42 million to $6.78 million for the Wallich Residence units.
The properties are linked to Singapore’s $3 billion money laundering case.
More than 1,000 luxury items, such as jewellery, watches and handbags, as well as 80 real estate properties that were forfeited in the case would be auctioned in phases between September 2026 and mid-2027, Deloitte Singapore had said in late August.
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SRI, Edmund Tie, and Knight Frank will be handling the property auctions. Some selected properties will also be put on the market via an expression of interest process managed by List International Realty.
The Singapore police had appointed Deloitte last year to manage and realise the non-cash assets forfeited in connection to the country's largest money laundering case, which involved an illicit group from China's Fujian province. The authorities had seized more than 200 properties, with many located in prime locations such as Orchard Road and Sentosa, Bloomberg reported.
Six Martin Modern apartments up for auction
The portfolio at Martin Modern is priced from $2,874 psf onwards.
The six apartments span three unit types: two-, three- and four-bedders, and are sized between 764 sq ft and 1,733 sq ft.
SRI said the range of unit sizes and configurations provides opportunities for both owner-occupiers looking for a well-positioned city-fringe home and investors who wish to secure a property in a prime residential district.
Completed in 2021, Martin Modern has 450 units across two 30-storey towers. Condo facilities include a swimming pool, BBQ pavilion, residents’ lounge, gym, tennis court and landscaped gardens. Its 99-year leasehold tenure started in 2016.
The luxury development along Martin Place in prime District 9 is about a 10-minute walk to Great World MRT Station and the Great World mall and offices, while the Orchard Road shopping belt is a six-minute drive away.
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Schools nearby include River Valley Primary, Alexandra Primary, Anglo-Chinese School (Junior), Cantonment Primary, St Margaret’s School (Primary) and Zhangde Primary.
Four Wallich Residence luxury homes on the block
Over in the CBD, the four Wallich Residence apartments up for auction are three- and four-bedders ranging from 1,313 sq ft to 1,991 sq ft. Prices start from $3,347 psf.
All four units offer "bright and breezy" living environments with unblocked sea views, said Mok Sze Sze, managing partner of SRI Auction.
Situated on Wallich Street in the Downtown Core, the 181-unit Wallich Residence is located on levels 39 through 64 of the Guoco Tower mixed-use skyscraper, which also includes a commercial and carpark podium, a hotel and offices.
The luxury condo was completed in 2017. Residents can access a suite of facilities such as a swimming pool, jacuzzi, sky garden, gym and concierge services.
Besides the offerings within Guoco Tower, other lifestyle, dining and retail amenities in the vicinity include Tanjong Pagar Plaza Market & Food Centre, the 100 AM boutique shopping complex on Tras Street, and International Plaza along Anson Road.
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The development is also connected to Tanjong Pagar MRT Station.
SRI is the exclusive marketing agency to conduct the auction for both the Martin Modern and Wallich Residence portfolios.
The auction will take place at 2.30pm on Sept 23 at SRI's Great World office.
Check out the latest listings for Martin Modern, Wallich Residence properties