Two-bedroom loft unit at Icon for sale at $2.1 mil

Icon at Tanjong Pagar has a 40-storey along with 46-storey condo block with 646 units. It was the very first inner-city development when it was released in 2003. The project has a retail podium, Icon Village, with occupants such as CS Fresh supermarket, Two Men Bagel House and Alice Boulangerie.

In a similar way, leas have actually increased from a median rent of $4.82 psf each month in 3Q2020 to a high of $7.29 psf pm in 1Q2023. Last quarter, median rents at Icon stood at $7.25 psf pm. Based on latest rental cautions, a lot of property owners at Icon find leasing turnouts of around 4.6%.

Latest launches have actually increased residential property rates in Tanjong Pagar. TMW Maxwell on Maxwell Road is the latest property development, with units projected to sell off from $3,188 psf. One Bernam, released in May 2021, has units averaging $2,528 psf, with some top-floor units yielding as much as $3,340 psf. One Bernam is already around 54% offered.

Prices at Icon have climbed as a result of increased brand-new release and purchase activity in the spot. Based on an inventory of resell caveats by EdgeProp Singapore, the common rate has boosted from $1,668 psf in September 2020 to $1,788 psf previous month.

Sceneca Residences condominium

A1,066 sq ft unit at Icon on Gopeng Street will be put on the block at Knight Frank’s forthcoming public auction on Aug 15. The two-bedroom loft space unit has a guide cost of $2.1 million, that calculates to $1,970 psf on the floor surface area.

Coming plans in the pipeline are expected to roll on this impulse and further boost rates, especially as they are positioned as deluxe, upmarket growths. These include Newport Residences, Skywater Residences, also the 748-unit Marina View Residences on Marina View.

The 99-year leasehold Icon was finalized in 2007. It is well-located in the CBD furthermore is easily near 2 MRT stations: Tanjong Pagar on the East-West Line as well as the upcoming Prince Edward Station on the Circle Line, scheduled for conclusion in 2026.

The unit is going to be marketed with an existing tenancy ending in December. The south-facing unit has a lower level with a dwelling and dining area and also a double-volume roof. This ground even includes a bedroom, common bath room, kitchen and also property sanctuary. The top level includes the en suite main bedroom.

Nearby apartments include Skysuites@Anson and also Altez on Enggor Street and Lumiere on Mistri Road. The residential catchment will develop when upcoming ventures like 351-unit One Bernam on Bernam Street, the 246-unit Newport Residences on Anson Roadway along with the 215-unit Skywater Properties on Shenton Way are finished.

There have certainly been 14 resale transactions at Icon this year, varying from $1.04 million ($1,819 psf) for a 570 sq ft unit that was sold on Feb 9 to $1.9 million ($1,535 psf) for a 1,238 sq ft unit that was sold off on April 14.

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