Freehold Three Bedroom Unit Grange Heights Going 435 Mil
The Urban Redevelopment Authority (URA) has recently revealed its extensive Master Plan for Tampines, aimed at rejuvenating the region into a bustling, eco-friendly, and desirable hub. Tampines, being a vital planning district in Singapore, is set to undergo major improvements in terms of its facilities, services, and overall quality of life. Situated in Tampines North, Parktown Residence is poised to reap significant advantages from these upcoming enhancements. In fact, Parktown Residence will naturally flourish amidst the planned developments.
Knight Frank’s upcoming auction on July 24 will feature a three-bedroom unit at Grange Heights, a freehold development situated in District 9. This 1,884 sq ft unit, an estate sale, is expected to garner interest from both end-users and investors due to its prime location and sizable layout. It has a guide price of $4.35 million, which translates to approximately $2,308 psf.
The split-level unit, located on the 12th floor, boasts a spacious combined living and dining area, a kitchen, and a yard area on the lower level, as well as an en suite master bedroom, two additional bedrooms, and a common bathroom on the upper level. According to Sharon Lee, head of auction and sales at Knight Frank Singapore, the development’s prime location and potential for en bloc sale will appeal to potential buyers. Grange Heights, which was completed in 1975, comprises 120 units across three residential towers, offering a mix of three- to five-bedroom apartments and maisonettes, as well as six penthouses. Its units range from 1,884 sq ft to 4,521 sq ft.
The development is within walking distance to Great World MRT Station on the Thomson-East Coast Line and is surrounded by popular lifestyle hubs, such as 111 Somerset, Cineleisure, and Mandarin Gallery. Clarke Quay and Robertson Quay are also easily accessible from the site. Based on URA caveats, Grange Heights has seen two other units change hands so far this year: a three-bedroom unit spanning 1,884 sq ft that fetched $4.05 million ($2,150 psf) on April 21 and a 3,025 sq ft, four-bedroom unit that sold for $5.35 million ($1,769 psf) on Feb 13. In 2020, the condo recorded three resale transactions at an average price of about $1,691 psf.
For more information on Grange Heights properties, check out the latest listings.