The penthouse at Mon Jervois will be put up for auction on May 24 (Photo: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - A 1,475 sq ft duplex penthouse in Mon Jervois will be put up for auction by ERA Singapore on May 24 at a guide price of $2.9 million ($1,966 psf). It is an owner’s sale, according to Carol Quek, ERA Singapore’s director of auction and sales, who is handling the auction.
Located at Jervois Road in prime District 10, Mon Jervois is a 109-unit condominium developed by Singapore Land. Completed in 2016, the five low-rise blocks have a mix of one-bedroom plus study units from 614 sq ft; two-bedroom units from 883 sq ft; three-bedroom units from 1,389 sq ft; and four-bedroom units from 1,905 sq ft. It also has two- to four-bedroom penthouses with sizes between 1,475 and 3,003 sq ft.
The two-level penthouse comes with a balcony and a roof terrace (Photo: ERA Singapore)
The duplex penthouse that is up for sale has three bedrooms and comes with a balcony and roof terrace. The unit is currently rented out, with the lease expiring on July 31. The first floor of the house encompasses the kitchen, dining area, and a living room that opens out onto the balcony. Off the living room is a junior master bedroom which comes with an en suite bathroom with access to the balcony. Quek says a section of the balcony has been converted into a study area accessible from the junior master suite. There is also an additional bedroom and a common bathroom.
The upper floor contains the master bedroom and the roof terrace. Here, a section of the terrace has been converted into a home office. Quek believes that the property will generate strong interest given its location within a quiet enclave of landed and low-rise condominium developments. “It has a prestigious address and the development is located in the vicinity of the Bishopsgate and Jervois Road Good Class Bungalow area,” she adds.
The latest resale transaction at Mon Jervois occurred in January, based on caveats lodged. An 893 sq ft unit on the third floor was sold for $1.72 million ($1,925 psf) on Jan 27. The last penthouse transaction at Mon Jervois was on July 12 last year, when a 2,626 sq ft unit was sold for $3.94 million ($1,500 psf).
The living area (Photo: ERA Singapore)
Quek believes the property up for auction will appeal not just to owner-occupiers but also to investors looking to rent the property out, given its location and proximity to amenities. Assuming the unit continues to be leased out at its current rate of $6,800 per month, the property could potentially provide a gross rental yield of around 2.8% based on the guide price.
Mon Jervois is located close to amenities and public transport. It is less than a 10-minute drive away from Orchard Road, the CBD and the Botanic Gardens, while lifestyle and F&B amenities are available in nearby neighbourhoods including Tiong Bahru, Robertson Quay and Dempsey Hill. The property will also appeal to families with school-going children because it is near River Valley Primary School, Alexandra Primary School, Gan Eng Seng Primary School and Crescent Girls’ School.