Sale of three-bedder at Seven Holt Road reaps $2.46 mil profit

Seven Holt Road, a freehold development off River Valley Road, was the star profit-maker in condo resale deals during the week of Sept 1 to 8.

A 2,153 sq ft three-bedder on the second floor garnered a profit of $2.46 million (130.2%) when it changed hands for $4.35 million ($2,021 psf) on Sept 4.

This works out to a 3.4% gain when annualised over 25 years. The unit was purchased from the developer for $1.89 million ($878 psf) in 2001.

Read also: Seller at The Claymore in prime District 9 clinches $3.86 mil profit

This is Seven Holt Road’s second most profitable deal to date. The record is the $2.54 million profit made in a transaction in 2010. A four-bedder was sold for $5.22 million after it had been initially purchased for $2.68 million in 2005.

Seven Holt Road is a boutique development that was completed in 2000. The 45-unit project features three- and four-bedders of between 1,830 and 4,263 sq ft, and a penthouse spanning 9,236 sq ft. Amenities at Valley Point Shopping Centre are six minutes away on foot.

Next on the week’s list of most profitable resale transactions was the sale of a four-bedroom unit at Leonie Gardens in prime District 9.

Located on the sixth floor, the 2,540 sq ft unit changed hands for $4.05 million ($1,594 psf) on Sept 7, netting $2.25 million (125%) in profit. This represents an annualised gain of 3.1% over more than 26 years for the seller who bought the unit for $1.8 million in 2000.

However, the most profitable deal at Leonie Gardens was scored in a July 2021 deal. Then, a 4,295 sq ft penthouse was sold for $9.5 million. That means the seller, who bought it for $5.6 million in 2007, made $3.9 million in profit.

Based on URA caveats lodged, Leonie Gardens has logged six other resale transactions this year, which were all profitable. Those units, priced between $3.1 million and $5.7 million, netted profits ranging from $380,000 to $2.93 million.

Read also: Three-bedder at Goldenhill Park Condominium scores $2.55 mil profit

Leonie Gardens is a 99-year leasehold condo along Leonie Hill. It was completed in 1993 and comprises 138 units, with spacious three- to five-bedroom layouts and penthouses ranging from 1,733 to 4,306 sq ft. The development is close to the Orchard Road shopping belt and Great World.

Incurring the biggest loss for the week was a 4,725 sq ft, five-bedroom apartment at Marina Collection, a condo along Cove Drive in Sentosa Cove.

The deal racked up a $5.87 million loss, or 46.3%. Annualised over nearly 19 years, that works out to 3.3%. The fourth-floor unit — bought for $12.67 million ($2,681 psf) from the developer in 2008 — was sold for $6.8 million ($1,439 psf) on Sept 3.

This transaction booked the steepest loss at Marina Collection to date. Prior to this, in 2023, a seller lost $4.65 million when a four-bedder was sold for $4.65 million; its purchase price was $9.3 million in 2008.

Marina Collection has seen two other resale deals this year, both of which were also in the red. Those units — three-bedders measuring 1,484 and 1,495 sq ft — were sold for $2.78 million and $2.8 million, sustaining losses of $2.17 million and $1.32 million, respectively.

Situated in the Sentosa Cove enclave, Marina Collection is a 99-year leasehold condo that was completed in 2011. It is a low-rise development consisting of 124 units across three four-storey blocks. Its three- to five-bedders range from 1,873 to 4,725 sq ft.

Read also: Resale condo unit nets $3.1 mil profit at Palm Spring in prime District 10

The development is a 10-minute walk from Quayside Isle, Sentosa Cove’s retail cluster comprising a supermarket, F&B options and a childcare centre. Vivocity is an eight-minute drive away.

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