One-bedder at The Clift for sale at $1.2 mil
Edmund Tie will auction a 495 square foot, one-bedroom condo at Clift in District 1, along McCallum Street on March 27, 2019.
The unit at the 23rd Floor has a guide value of $1.2 Million, which translates into $2,424 PSF.
The first auction in which the unit has appeared since its purchase is this owner’s sale. Records show that the unit being sold was originally purchased on March 20th, 2020 for $950,000 (1,919 sq ft).
Property is on the market as owner is restructuring his investment portfolio. The unit is being sold with a current tenancy due to end in November. This means that the new owner will receive an immediate rental income.
In terms of psf, the prices ranged between $1.55 ($1,895 per sq ft) for an unit measuring 818 sq. ft. on the eleventh floor that was sold in December 20,23 and $1.62 ($2,090 per sq. ft.) for a unit measuring 775 sq. ft. on the twenty-seventh floor that was sold in September.
The Clift has had a recent resale on Jan. 5. A 495 square foot unit on the fourteenth floor sold for $970,000 (or $1,959 per square foot).
The development has seen a lot of sales. The development is still a viable choice in the market, even though it’s not “rare”.
Tan notes that The Clift continues to be highly sought-after on the resale property market. This shows its appeal for both investors and owner-occupiers looking to diversify with this type.
The Clift can be found on Maxwell Road, across from Amoy Street Food Centre. It is also close to Guoco Tower. The Clift is also near the Telok Ayer Preservation Area with bars and eateries on Amoy Street Telok Ayer Street and Stanley Street. Ann Siang Hill is also close by, as are Ann Siang Road and Club Street. These are all part of Chinatown Conservation Area.
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Tanjong Pagar Station is on the East-West Line. Telok Ayer Station is on Downtown Line. Shenton Way Station is on Thomson-East Coast Line.
Tanjong Pagar has other similar high-rises in the CBD. These include the 646 unit Icon completed in 2007, the 280 unit Altez completed in 2014, and the 360 unit Skysuites @Anson (completed by 2014).
Icon, the first residential high-rise in Tanjong Pagar, was launched on February 1, 2008. In February the latest transaction involved a one-bedroom, 560 sq ft unit, which changed hands at $1,08 million ($1,930/sq ft).
According to a caveat with URA Realis, a 861 sq ft duplex on Enggor Street sold for $1.55 Million ($1,800/sq ft), based on the size of the unit.
Skysuites @ Anson at Enggor Street had the most recent transaction in February for a 667-square-foot two-bedroom apartment that sold for $1.595m ($2,390/sqft).
