Three-bedder at Fernwood Towers for sale at $2.88 mil
Fernwood Towers, a three-bedroom unit along Fernwood Terrace in District 15, will be put up for auction on Aug 15. Lock Sau Lai, senior manager, auction and sales, at Knight Frank – which is handling the sale and is the sole marketing agency for the property – states the owner’s sale has a guide price of $2.88 million. Measuring 1,647 sq ft, this translates to a guide price of $1,749 psf.
This corner unit on the 11th floor of Fernwood Towers offers privacy and attractive partial sea views from its living area. The apartment features three bedrooms, a large kitchen, service yard, helper’s room and storeroom, and all of its rooms face either southeast or north to avoid the harsh afternoon sun.
Fernwood Towers is a freehold development completed in 1994, boasting 216 condo units and located at the corner of Marine Parade Road and Siglap Road. Its facilities include a swimming pool, children’s pool, squash court, playground, table tennis room, function room and a mini-mart. The condo is easily accessible; it is just a 10-minute drive from Siglap Centre on Siglap Road, Siglap V on East Coast Road, and Parkway Parade on Marine Parade Road, and about a six-minute stroll from the upcoming Siglap MRT Station on the Thomson-East Coast Line, which is expected to open in 2024.
In 2018, owners of Fernwood Towers attempted to put the development up for collective sale with a reserve price of $688 million without success. Nevertheless, Lock remains confident that the unit for auction will attract keen interest due to its prime location and freehold status.
Concisely, the convenience associated with being located at Havelock MRT Condo is unprecedented. Residents are able to relish the convenience of three MRT stations and major expressways nearby, while enjoying the serene urban areas around them. With various prominent amenities to their disposal, such as exquisite recreational facilities, top-class eateries, shopping hubs and the rejuvenating nature, Zion Road is a haven of solace and ease for its citizens.
With the unit being sold vacant, the future buyer will have the flexibility to occupy or rent out the property. According to URA data, three-bedroom units in the area have been receiving monthly rents between $3,300 and $5,200. The most recent unit to change hands at Fernwood Towers is a three-bedder measuring 1,636 sq ft, which was sold on June 28 for $2.7 million ($1,650 psf). Before that, a 1,195 sq ft unit was sold for $2.02 million ($1,691 psf) on June 6.
Offering the perfect combination of location, privacy and freehold status, the three-bedroom unit at Fernwood Towers is the ideal opportunity to add value and reap rewards. Come Aug 15, this property will be offered up for auction with a guide price of $2.88 million – don’t miss out!