One Bedroom Unit Wallich Residence Sale 18 Mil

at EdgeProp Singapore.

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A one-bedroom unit measuring 646 sq ft at the coveted Wallich Residence in District 2’s Tanjong Pagar will soon be up for bids at an auction hosted by Edmund Tie on August 28. Positioned on the 46th floor, the unit is being sold directly by the owner, who has set a guide price of $1.8 million, equating to a cost of $2,786 per square foot.The unit is composed of a living space, kitchen area, dining area, a master bedroom, and a private bathroom. It also offers stunning views of the nearby sea and the beautiful Sentosa island. According to Joy Tan, the head of auction and sales at Edmund Tie, this is the first time the property is being made available for sale through auction.The unit offers a panoramic sea view looking out towards Tanjong Pagar and Sentosa. (Credit: Edmund Tie)Records from URA caveats show that the owner purchased the property from the developers in December 2013 for $1.94 million, which averages at $3,009 per square foot.AdvertisementOnly one other unit at Wallich Residence has been sold this year as of yet. On July 23, a 646 sq ft, one-bedroom unit on the 51st floor was bought for $1.8 million, pricing it at $2,786 per square foot.Over the course of 2020, six units were transacted at Wallich Residence, with each deal averaging at $3,136 per square foot. When it comes to the price per square foot, the transactions recorded at the project ranged from $2.955 million ($2,955psf) for a three-bedroom, 1,755 sq ft unit on the 42nd level to $3.3 million ($3,600 psf) for a two-bedroom unit measuring 915 sq ft on the 53rd floor.The latest transactions made at Wallich Residence, compiled by EP Buddy. (Source: URA, EdgeProp Singapore)Tan notes that the unit being auctioned is presently tenanted until September 2025, giving the new owner immediate rental income potential. The property currently generates $6,800 in monthly rent, which translates to a rental yield of 4.5%, based on the guide price of $1.8 million. According to data from URA rental caveats as compiled by the research tools at EdgeProp Singapore, the average monthly rent at Wallich Residence over the past 12 months stands at around $10.50 per square foot. This means that landlords have earned a rental yield of 4.1% over the same period.The unit boasts an open-concept living, dining and kitchen area, a master bedroom, and a private ensuite bathroom. (Credit: Edmund Tie)Wallich Residence was completed in 2017 and is the residential component of the Guoco Tower integrated development, which is nestled away in Tanjong Pagar. It offers 181 units, ranging from single to double bedroom apartments measuring between 614 sq ft and 1,259 sq ft, as well as three- to four bedroom units ranging from 1,098 sq ft to 1,991 sq ft. The development also features an array of five penthouses measuring between 3,509 sq ft and 21,108 sq ft.Guoco Tower also comprises of 38 floors of Grade-A office space and 100,000 sq ft worth of retail and dining options. Wallich Residence sits between the 39th and 46th floors of the 64-storey building, which is situated directly above the Tanjong Pagar MRT Station on the East-West Line.Read also: Mortgagee sale of penthouse at Maple Woods for $6.2 milAdvertisement Be sure to drop by EdgeProp Singapore to check out the latest listings available at Wallich Residence.