Duplex Penthouse 21 Anderson Achieves Record Absolute Price 5225 Mil

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In July, there were two units sold at 21 Anderson, a luxury condo situated along Anderson Road in prime District 10. The developer, Kheng Leong Co, sold a duplex penthouse on the ninth and 10th floors for $52.25 million. This works out to be $4,999 per square foot (psf).The sale price of the penthouse is the highest achieved at the development since its launch in April this year. It is also the highest sale price for a penthouse in Singapore since October 2020, when Leo Kuo Guan, a billionaire from Indonesia, paid $62 million ($2,937 psf) for a triplex penthouse at the Wallich Residence, a 99-year leasehold condo on the 62nd to 64th floors of Guoco Tower, Singapore’s tallest tower to date. Kheng Leong Co is the private property arm of the late billionaire banker Wee Cho Yaw’s family, and they sold two units at their freehold luxury condo 21 Anderson in July, according to caveats lodged with URA Realis. One of the units was a 10,452 sq ft duplex penthouse that spans the ninth and 10th floors of the development. This unit was sold at $52.25 million or $4,999 per square foot (psf).This sale price is the highest achieved at 21 Anderson since its launch in April this year. It also sets a new record for the highest sale price for a penthouse in Singapore since October 2020. Back then, Leo Kuo Guan, a billionaire from Indonesia, paid $62 million or $2,937 psf for a triplex penthouse at Wallich Residence, a 99-year leasehold condo on the 62nd to 64th floors of Guoco Tower, Singapore’s tallest tower to date.In terms of absolute price, this is also the highest sale price achieved at 21 Anderson since its launch in April this year.According to URA data, the buyer of the duplex penthouse at 21 Anderson is a Permanent Resident (PR), and their country of origin is “unspecified”.The penthouse at 21 Anderson is in high demand because it is one of only two such units available in the niche development, which comprises of 18 large-format units. Each penthouse comes with a 500-bottle walk-in wine cellar, a roof terrace with a pergola, a landscaped garden, a 9m lap pool, and a sauna. They also offer unblocked views of the surrounding greenery, Ardmore Park, the Shangri-La Singapore, and the former Raffles Girls’ School campus.Other units at 21 Anderson include two two-bedroom units located on the first level, with a size of 3,197 sq ft each. One of these units was sold in May this year for $9.5 million or $2,972 psf. There are also 14 four-bedroom units at 21 Anderson, each measuring 4,489 sq ft. So far, four of these units have been sold for prices ranging from $20.97 million or $4,672 psf to $24 million or $5,347 psf in April and May this year. The sale of the four-bedroom unit on the eighth floor set a new record for the highest per square foot (psf) price achieved at the development. In July, a 4,489 sq ft four-bedroom unit on the sixth floor was sold for $21.06 million or $4,692 psf. The buyer of this unit is also a PR, and their country of origin is “unspecified”.Since the launch of 21 Anderson, a total of seven units have been sold, and five of the buyers are PRs, while the remaining two are Singapore citizens.Kheng Leong Co acquired the former development, also known as 21 Anderson, from the Chiu family-controlled Hong Kong-listed Far East Consortium International for $213 million in September 2021. Prior to Kheng Leong Co’s acquisition, the former 21 Anderson operated as a serviced apartment block with 34 units for 13 years. Under Kheng Leong Co, the building underwent a full refurbishment, including a new façade, interiors, landscaping, and updated systems. This boutique project was designed by Ernesto Bedmar, a Singaporean architect known for high-end homes. Bedmar has also designed another Kheng Leong Co project, 32 Gilstead. The landscaping was designed by Shunmyo Masuno, who also worked on 32 Gilstead and Nassim Park Residences. The interiors at 21 Anderson and Nassim Park Residences are designed by Studio Liaigre, led by renowned French designer Christian Liaigre.The success of 21 Anderson is attributed to its ability to target a gap in the market for large-format, freehold units. According to Dominic Lee, head of the luxury team and investment sales at PropNex, this development offers a unique proposition as large-format, freehold units are scarce in the market. The penthouses at 21 Anderson are even rarer, and they are highly sought after. Lee himself brokered the sale of a two-bedroom unit at 21 Anderson for $9.5 million or $2,972 per square foot (psf) and a four-bedroom unit on the third floor, which was sold for $23 million or $5,127 psf in April this year.