Sommerville Park Unit Sold 221 Mil Profit

SINGAPORE (EDGEPROP) – Sommerville Park, a freehold development on Farrer Drive, saw the most profitable resale deal during the week of March 11 to 18. A maisonette unit with a strata area of 1,615 sq ft changed hands for $3.45 million ($2,137 psf) on March 13. According to caveats lodged with URA, the unit was last sold in November 2006 for $1.24 million ($766 psf). This means that the seller made a profit of $2.21 million, representing a capital gain of 179% and an annualised profit of 9.4%, over a holding period of nearly 18½ years.The sale of another unit at Sommerville Park was the second most profitable resale deal during the week. A three-bedroom apartment spanning 1,948 sq ft on the 12th floor sold for $4.43 million ($2,274 psf) on March 17. The seller, who had purchased the unit in 2015 for $2.7 million ($1,386 psf), made a gain of $1.73 million (64.1%), or an annualised profit of 6.4%, over 10 years.Sommerville Park is a freehold development off Holland Road in District 10, with four apartment blocks, double-storey maisonettes and townhouses occupying a sprawling 855,571 sq ft site. Another unit at the development was also the most profitable resale deal to date, when a strata landed property spanning 3,294 sq ft was sold for $5.05 million ($1,533 psf) in May 2018. The seller made a profit of $3.57 million, having bought the unit in September 2003 for $1.48 million ($449 psf).The third most profitable resale deal during the week was at Centennia Suites, a freehold condo on Kim Seng Road in District 9. A three-bedroom apartment of 1,755 sq ft was sold for $5.15 million ($2,935 psf) on March 12, with the seller having purchased the unit from the developer in April 2010 for $3.46 million ($1,970 psf). This resulted in a gain of $1.69 million (49%), or an annualised profit of 3.3%, after owning the unit for about 15 years. The only other resale transaction at the development since August 2024 was a 1,787 sq ft unit that sold for $5.09 million ($2,846 psf) in August 2024. The seller made a $1.04 million profit, after buying the unit in February 2014 for $4.05 million ($2,267 psf).The most unprofitable resale deal during the week was at St Regis Residences Singapore. A four-bedder measuring 2,142 sq ft changed hands for $5.36 million ($2,502 psf) on March 13. The unit was last sold in September 2007 for $6.96 million ($3,250 psf), resulting in a loss of $1.6 million (23%), after being held for 17½ years.St Regis Residences Singapore is a 999-year leasehold development on Tanglin Road in prime District 10 that was completed in 2008. The 173-unit project was the first luxury hotel-branded residence in Singapore, with hotel services including butler service, housekeeping and room service. It is linked to the 299-key St Regis Singapore luxury hotel. Typical units comprise three- and four-bedroom apartments ranging from around 1,500 sq ft to 4,000 sq ft, as well as sky suites on the 20th and 21st floors sized between 4,300 sq ft and 6,000 sq ft and penthouses measuring 5,000 to 7,200 sq ft on the 22nd and 23rd floors.

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