Penthouse at Bishopsgate Residences sold for $20.68 million

Posted by edison_foo on November 26, 2016
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Situated in one of the most prestigious private housing estate in Singapore, a penthouse unit at Bishopsgate Residences has been sold for a whopping $20.68 million (Singapore Dollars) or $3,462 psf – by developer Kajima Overseas Asia Pte Ltd.

This luxurious penthouse has a strata area of total 5,974 square feet – comes with 4 ensuite bedrooms, a spacious roof terrace with its own private pool.

Bishopsgate Residences Condo Landscape

Bishopsgate Residences Surroundings

The 69,000 square feet site in District 10 which Bishopsgate Residences is currently sitting on has a plot ratio of 1.4 – was acquired back in 2007 via a collective sale of the BishopsWalk townhouses.

The purchase price then was reported to be above $130 million (or $1,500 psf) based on the GFA (gross floor area), which includes a development charge of approximately $15.6 million.

Completed back in 2012, this 31-unit freehold residential development is 5-storey tall, comprises of 29 apartment units and 2 strata landed homes.

Within this exclusive precinct, there haven’t been much new projects launching in the recent years. The most noticeable 2 projects would be Mon Jervois (at Jervois Road) by SingLand and Gramercy Park (along Grange Road) by City Developments Ltd.

The buyer of the penthouse is believed to be a local company owned by 2 Japanese individuals.

It was mentioned that the developer have already sold approximately 20 units in Bishopsgate Residences to a subsidiary company set up by the organisation few years back, and later on resold a couple of the units.

As of current, the developer has only around 4 to 5 units available for sale, while the rest are for leasing.

Market watchers have commented that this latest deal at Bishopsgate Residences clearly reflects the fact that the high net-worth buyers are still on the lookout for large residential units – penthouses or units on the ground floor with huge PES (private enclosed space).

Penthouse at Bishopsgate Residences sold for $20.68 million
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