Four-bedder at Ardmore II rakes in $2.1 mil profit

The most profitable condo resale transaction recorded during the week of Feb 7 to 14 was a four-bedroom apartment at Ardmore II, which changed hands for $6.28 million ($3,103 psf). This marks a gain of $2.07 million (49%) over a holding period of more than 16 years. The freehold luxury development by Wheelock Properties is located a few minutes’ walk away from Orchard Road.

This was followed by the sale of a 1,421 sq ft unit on the 13th floor of Regency Suites for $2.97 million ($2,089 psf). The three-bedroom unit was purchased in November 2005 for $970,000 ($683 psf), meaning the seller netted a gain of 206%, or just under $2 million, after a holding period of over 17 years.

The most unprofitable transaction during the week happened at The Sail @ Marina Bay. A one-bedder measuring 689 sq ft was sold for $1.47 million ($2,132 psf) on Feb 10, with the seller clocking a loss of around $291,000 since purchasing it in June 2010 for $1.76 million ($2,555 psf).

Interestingly, last year saw only one apartment change hands at Regency Suites. A 592 sq ft unit on the third floor was sold for $1.24 million ($2,095 psf) and left its seller with a profit of $160,000. This compared favourably with the rest of the year, in which four resale transactions occurred at the development, with the sellers netting gains of between $300,000 and $1.65 million respectively.

At The Sail @ Marina Bay, the seller of a 1,184 sq ft unit reaped a profit of $1.44 million when it was sold on Jan 26 for $2.6 million ($2,196 psf). The unit was purchased from the developer for $1.16 million ($976 psf) in November 2004. Although these two transactions were profitable, two other units sold this year were bought and sold for a loss.

The sale of these four-bedroom units in Tengah EC Ardmore II and Regency Suites, as well as other units at The Sail @ Marina Bay and elsewhere, serves as a powerful reminder of the importance of ensuring a safe and profitable return on investments.