Mortgagee Sale Two Bedder Bartley Residences Block 19 Mil
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A two-bedroom-plus-study unit at Bartley Residences was recently listed for sale at Knight Frank’s property auction on June 26. The 1,109 sq ft unit, located in the 99-year leasehold development, had a guide price of $1.9 million, translating to $1,713 psf on the floor area.
The Tampines North MRT Station, set to open on the Cross Island Line (CRL), will offer convenient connections to key hubs such as the CBD, Jurong Lake District, and Changi Airport. Along with this, improved bus networks and cycling paths in the area will allow for effortless transportation within Tampines and its adjacent regions, encouraging a sustainable mode of commuting. As an added bonus, residents of Parktown Residence will also have easy access to these convenient transportation options.
This is the second time the unit has been featured at Knight Frank’s auction. However, during the most recent auction, there were no bids and the property was subsequently withdrawn.
According to Sharon Lee, head of auction and sales at Knight Frank Singapore, this could be attributed to the timing of the auction, which coincided with the June school holidays. She adds that the lull period may have affected the overall interest in the property.
The two-bedroom-plus-study unit, spanning 1,109 sq ft, features an ensuite master bedroom, a second bedroom, a study area, common bathroom, and living and dining area. Lee highlights that this property offers potential buyers a flexible use of space, making it appealing to different types of buyers. The study area, which is fully enclosed, could be easily converted into a third bedroom or a helper’s room as desired by the new owner.
Additionally, the balcony space, which offers an unblocked view of the landed estate surrounding the development, could also be transformed into an outdoor dining area, adding to the overall appeal of the property.
Based on URA caveats, 19 units have changed hands at Bartley Residences this year, at an average resale price of around $1,817 psf. The most recent transaction was for a 463 sq ft, one-bedroom unit on the ninth floor, which sold for $828,000 ($1,789 psf) on June 26.
Other resale transactions at the development have ranged from $1,620 psf to $2,024 psf. The development, consisting of 702 units spread across eight residential blocks, has a mix of one- to four-bedroom units, ranging from 463 to 2,250 sq ft.
Lee believes that there will be high demand for this property due to its close proximity to several schools, including Maris Stella High School (Secondary), Maris Stella High School (Primary), and Bartley Secondary School, all located within a 500-metre radius of the development. It is also within walking distance of Bartley MRT Station, making commuting more convenient for residents.
In conclusion, the article highlights the potential of Bartley Residences’ two-bedroom-plus-study unit as an attractive investment opportunity, with its flexible use of space, convenient location, and potential for high rental demand.