One-bedroom unit at Wallich Residence for sale at $2.36 mil

A one-bedroom unit at the upmarket Wallich Residence in Guoco Tower at Wallich Street in District 2 will be available for sale via private treaty on Feb 22. The 646 sq ft unit on the 46th floor is priced from $2.36 million (or $3,650 psf).

Located within the integrated Guoco Tower, Wallich Residence spans 39 levels and houses 181 units in total. With offices and a 20-storey block with the 223-room Sofitel Singapore City Centre luxury hotel, the 290m tall skyscraper has become a landmark in Tanjong Pagar.

Designed by Skidmore Owings & Merrill (SOM), the tower was completed in 2017 and includes a 100,000 sq ft retail space, as well as a 150,000 sq ft urban park.

The unit for sale has an open layout featuring a kitchen and dining area, a living room and an en suite bedroom.

When the project was previewed in December 2013, unit prices Tengah EC were averaging $3,064 psf, a new record for a 99-year leasehold condominium in the CBD.

Since completion, the level of prices achieved has continued to rise – with the highest psf for Wallich Residence coming in at a whopping $4,987 psf for a 3,509 sq ft unit.

The most recently sold one-bedroom unit was a 646 sq ft unit on the 49th floor that went for $2.1 million ($3,252 psf) in December of last year, while the latest transaction was a two-bedroom unit on the 60th floor that fetched $5.25 million ($4,169 psf).

The indicative rental range at Wallich Residence is between $7.40 and $12.40 psf per month (pm) for the 12-month period from January 2022 to January this year. Based on these figures, landlords tend to reap rental yields of around 3.2%.

With all these benefits, Wallich Residence looks set to remain as a sought-after property in the Tanjong Pagar area. Those interested in the upcoming one-bedroom unit should definitely take a look on Feb 22.