Singapore Markets open in 7 hrs 58 mins

Mortgagee sale of unit at 8@Woodleigh for $1.16 mil

charlene.chin@edgeprop.sg


The unit at 8@Woodleigh will be put up for auction for the second time by ET&Co on Jan 21 (Credit: ET&Co)

An 840 sq ft, two-bedroom unit at 8@Woodleigh was put up for auction for the first time by Edmund Tie & Co (ET&Co) at a guide price of $1.16 million ($1,381 psf) on Dec 12. The attempt, however, was unsuccessful, and the property will be put up for auction again on Jan 21. The mortgagee sale is the first at 8@Woodleigh, says Joy Tan, senior director, head of auction and sales at ET&Co.

8@Woodleigh is a 99-year leasehold development that comprises 330 units. It was developed by Frasers Centrepoint and completed in 2012. Located on Woodleigh Close, off Upper Serangoon Road in District 13, the condo is close to public transport and amenities. Woodleigh MRT station, on the North-East Line, is a five-minute walk away. The condo is also near educational institutions such as the St Andrew’s schools, Cedar Girls’ Secondary School and Cedar Primary School. Stamford American International School is right next to the development.

The unit that was put up for auction was purchased at $1.23 million ($1,465 psf) in November 2012. This transaction marked the second time the property changed hands — it was first purchased from the developer at $682,200 ($813 psf) in July 2009.

The unit’s master bedroom comes with an en suite bathroom. It has an open-concept kitchen, as well as one bedroom and one common bathroom.

Tan expects the unit to interest small families and investors, owing to its location next to the Stamford American International School.

For unit sizes between 800 and 900 sq ft, rents at 8@Woodleigh ranged from $2,300 to $3,500 a month, according to URA data. For the unit put up for auction, Tan expects a rent of around $2,600 a month.

There have been 15 transactions at 8@Woodleigh this year, according to caveats lodged with URA. The most recent sale was that of an 861 sq ft, two-bedroom unit on the 12th floor on Sept 27 that fetched $1.23 million ($1,428 psf).



See Also: