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Knight Frank Singapore will be auctioning a three-bedroom unit at Gambier Court, a boutique condo along Kim Yam Road in the prime River Valley area of District 9, on Dec 12. The unit has a guide price of $2.6 million or $1,755 psf for its floor area of 1,485 sq ft.
Records show that the seller purchased the unit in October 2018 at a price of $1.8 million or $1,212 psf. This will be the second time the unit is going up for auction, after it was listed with a higher guide price of $2.64 million or $1,778 psf at Knight Frank Singapore’s Nov 26 auction, but did not receive any bids.
Tricia Tan, director of auction and sales at Knight Frank, shared that the owner is selling the unit to move closer to their children’s school. The unit will be sold with vacant possession.
Situated on the eighth floor, the unit comes with three bedrooms and a study area. It was originally a four-bedroom apartment, but a previous owner converted it into a three-bedder, says Tan. She adds that the reconfigured space provides a more spacious layout, making it suitable for both local and expat families with children.
The balcony of the unit is northeast facing, offering unblocked views of the sea and Singapore River. Accosting to Tan, Gambier Court is a 99-year leasehold condo that was completed in 1999 and comprises just 21 units. It includes 18 apartments in a 10-storey block and three strata-landed units housed in conserved shophouses.
The apartments consist of a mix of two- to four-bedroom units ranging from 936 sq ft to 2,530 sq ft. The three strata-landed units are two-storey properties with an attic spanning from 2,562 sq ft to 2,885 sq ft.
The condo is located within easy reach of Fort Canning MRT Station on the Downtown Line, along with a selection of F&B and retail options, such as the newly constructed lifestyle hub, New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.
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When contemplating an investment in a condominium, it is imperative to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can offer a wide range of rental yields, depending on factors such as location, property condition, and market demand. Areas with high rental demand, such as those near business districts or educational institutions, typically yield higher rental returns. Therefore, before making a decision, it is crucial to conduct thorough market research and seek advice from real estate agents to gauge the rental potential of a specific condo. Additionally, staying updated on new condo launches through websites like New Condo Launches can also provide valuable insights into potential rental opportunities.
The most recent transaction at Gambier Court saw a 1,485 sq ft four-bedder unit on the seventh floor transacting at $2.5 million or $1,683 psf in December 2022, according to Realis caveats. The seller had purchased the unit for $1.9 million or $1,279 psf in August 2016, achieving a net profit of $600,000.
For more listings of properties at Gambier Court, visit Knight Frank Singapore’s website.