Yahoo Finance UNDER THE HAMMER: Blu Coral duplex penthouse going for $1.65 mil
A 2,110 sq ft duplex penthouse at Blu Coral will be put up for auction by Edmund Tie and Co (ET&Co) on Jan 21. The guide price for the fifthfloor unit is $1.65 million ($782 psf). This is an owner’s sale and the second time that the property will be put up for auction. The penthouse was first put up for auction.
Blu Coral comprises 79 units in four 5-storey blocks (Credit: ET&Co)
The penthouse was first put up for auction on Dec 12 at an opening price of $1.8 million ($853 psf). ET&Co had received the appointment to handle the marketing of the penthouse on behalf of the owner just a week before the auction. The relatively short time frame prior to the auction was compounded by the lull period during the festive period, says Joy Tan, head of auction and sales at ET&Co. As such, the penthouse didn’t receive any bids and was withdrawn.
Blu Coral, a freehold, 79-unit boutique condominium on Lorong L Telok Kurau, was developed by World Class Capital, a subsidiary of World Class Land and the property arm of listed jewellery company Aspial Corp. Located in prime District 15, Blu Coral was completed in 2009. The project is located within walking distance of Siglap Park Connector, East Coast Park and Kembangan MRT Station on the East-West Line.
The three-bedroom duplex penthouse at Blu Coral will be sold with vacant possession. The owners, a Singaporean couple, are looking to downsize as their children have grown up and have their own homes, says ET&Co’s Tan. The couple purchased the unit when the project was newly launched in April 2008. The price then was $1.27 million ($603 psf), according to a caveat lodged with URA Realis.
The duplex penthouse comes with a roof terrace and private pool on the topmost level, which also contains the master suite. The roof terrace offers a view of the city. The lower level contains the living and dining area, an enclosed kitchen, the yard and the household shelter as well as two other bedrooms with a shared bathroom.
The penthouse unit commands a city view from the roof terrace (Credit: ET&Co)
The last transaction at Blu Coral was for another duplex penthouse that is slightly smaller at 1,851 sq ft. The three-bedroom unit with a private jacuzzi changed hands for $1.83 million ($988 psf) in November last year, according to a caveat lodged with URA Realis.
The guide price of $1.65 million ($782 psf) for the 2,110 sq ft duplex penthouse is “reasonable as prices of similar-sized units in the same location are currently averaging $1,000 psf or higher”, notes ET&Co’s Tan.
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