Singapore Realtors Inc (SRI) will be putting up a three-bedroom penthouse at Spottiswoode Residences for auction on April 26. The owner’s sale of this 2,486 sq ft unit on the 36th floor of the duplex is priced at $5.38 million, which translates to $2,164 psf on the floor area.

The upper floor of the unit features an en suite junior master bedroom with direct access to an outdoor deck, as well as a roof terrace with ample space for a jacuzzi and open-air decks.

The lower floor comprises an en suite master bedroom, a third bedroom, a common bathroom, and a kitchen that leads to a small service yard, a toilet, and a bomb shelter. It also features a living and dining area connected to a sheltered balcony.

SRI says the unit will be sold with an existing tenancy due to expire at the end of August.

The freehold development is located at Spottiswoode Park Road in District 2, and was completed in 2013. The 351-unit project consists of mostly one- and two-bedroom units, 25 three-bedroom units, and seven penthouses. The one- to three-bedroom units range from 592 sq ft to 1,421 sq ft, and the penthouses range from 1,281 sq ft to 2,906 sq ft.

The view from the roof terrace of the penthouse, looking towards Tanjong Pagar and Keppel docks. (Picture: SRI)

When the condominium was launched for sale in November 2010, the mainboard-listed UOL Group, the developer behind Spottiswoode Residences, sold 130 (87%) of the 150 units initially released for sale. In total, buyers bought up 275 units (78%) in just three weeks.

Spottiswoode Residences is near the Singapore General Hospital at Third Hospital Avenue and surrounding medical institutions, including Outram Community Hospital at Hospital Boulevard and National Heart Centre at Hospital Drive. The nearby Outram MRT Interchange Station and Cantonment MRT Station will link the condo to the East-West, North-East, and Thomson-East Coast Lines.

A total of 10 resale transactions at Spottiswoode Residences occurred last year. Prices ranged from a 603 sq ft one-bedder on the 32nd floor that fetched $1.3 million ($2,157 psf) in September 2022 to a 936 sq ft two-bedder on the 17th floor that changed hands for $2.17 million ($2,317 psf) in December. Prices at the freehold condo are on par with surrounding developments built in the 2010s, with an average price of $2,175 psf.

The latest sale of a penthouse unit at Spottiswoode Residences was in March 2021, when a 2,906 sq ft, three-bedroom duplex was sold for $5 million ($1,720 psf). This unit had been bought from the developer for $4.25 million ($1,462 psf) in November 2014. So far, there has only been one resale transaction at Spottiswoode Residences this year. It involved a 926 sq ft, two-bedroom unit on the 35th floor, which changed hands for $2.35 million ($2,539 psf) on April 6.

Altura EC is projecting strong demand due to its location, offering an affordable alternative to private condos. Set to launch Altura Qingjian Realty in Q2 2023, pricing per sqft is at S$3,500.

Located on the outskirts of the CBD and closest to the Tanjong Pagar and Outram neighbourhoods, Spottiswoode Residences offers great convenience and connectivity through public transport. Nearby public and private residential developments include HDB’s 50-storey Pinnacle @ Duxton on Cantonment Road, condos Spottiswoode Suites and Spottiswoode 18 on Spottiswoode Park Road, and the soon-to-be-completed Sky Everton on Everton Road. The conservation houses on Blair Road and Everton Road are also located nearby.

Don’t miss the opportunity to enjoy exquisite views towards Tanjong Pagar and Keppel docks, as well as great convenience and connectivity – all above the 36th floor of Spottiswoode Residences.