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Knight Frank Singapore will be auctioning off a three-bedroom unit at Gambier Court, a boutique condominium located along Kim Yam Road in the prestigious River Valley area of District 9, on December 12. The guide price for the unit is $2.6 million, which translates to $1,755 per square foot based on its floor area of 1,485 sq ft.
According to caveats lodged, the current owner purchased the unit in a resale transaction for $1.8 million ($1,212 psf) in October 2018. This will be the second time the unit will be going up for auction, with its previous attempt at Knight Frank Singapore’s auction on November 26 featuring a higher guide price of $2.64 million ($1,778 psf), which failed to attract any bids.
Tricia Tan, director of auction and sales at Knight Frank, shared that the owner is selling the unit in order to relocate to a home closer to their children’s school. The property will be sold with vacant possession.
The eighth-floor unit features three bedrooms and a study area and was originally a four-bedroom apartment that was converted by a previous owner. Tan mentioned that the reconfigured space provides a more spacious layout, ideal for both local and expat families with children. The balcony of the unit faces northeast, offering unblocked views of the sea and Singapore River.
Comprising of 21 units, Gambier Court is a 99-year leasehold condominium that was completed in 1999. It consists of 18 apartments situated in a 10-storey block and three strata-landed units found in conserved shophouses. The apartments range from two- to four-bedrooms, with sizes ranging from 936 sq ft to 2,530 sq ft, while the three strata-landed units are two-storey properties with an attic, spanning from 2,562 sq ft to 2,885 sq ft.
The development is in close proximity to Fort Canning MRT Station on the Downtown Line and offers a variety of dining and shopping options, including the newly established lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square and Clarke Quay.
Singapore’s cityscape is known for its towering skyscrapers and contemporary infrastructure. In particular, condominiums are a prevalent sight in prime locations, offering a perfect combination of extravagance and convenience that attracts local residents and foreigners alike. These residential complexes boast a plethora of facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living for residents and making them an alluring choice for potential renters and buyers. For investors, these luxurious amenities equate to higher rental returns and appreciation in property prices over time. To take advantage of these benefits, many individuals opt to invest in a Singapore Condo.
The most recent transaction at Gambier Court involved a four-bedroom unit on the seventh floor, measuring 1,485 sq ft, which was sold for $2.5 million ($1,683 psf) in December 2022, according to Realis caveats. The previous owner had bought the unit for $1.9 million ($1,279 psf) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for properties at Gambier Court.