One-bedder loft at freehold Fulcrum condo on auction for $1.69 mil

on EdgeProp.sg.A one-bedroom unit at Fulcrum located along Fort Road will go under the hammer at SRI’s auction on October 26, with a guide price of $1.69 million. Boasting a balcony and floor to ceiling windows, as well as a study area, the 818 sq ft unit is situated on the seventh floor of the condo.It is currently tenanted and the owner purchased the property in August 2017 for $1.41 million. The buyer profile of units at Fulcrum consists of 89.4% Singaporeans and 10.5% foreigners and permanent residents.

For those looking to buy a freehold property, an owner’s sale of a one-bedroom unit at Fulcrum – located along Fort Road – has been put up for auction by SRI. The guide price for the 818 sq ft unit on the seventh floor of the condo has been set at $1.69 million ($2,066 psf).

The auctioneer, SRI, had listed the property last month with an initial guide price of $1.73 million. With the condo’s locality in District 15, Mok Sze Sze, the auctioneer’s managing partner handling the sale, highlights its draw to potential buyers, due to its proximity to the upcoming Katong Park MRT Station on the Thomson–East Coast Line and easy access to the East Coast Park.

Enquiries for the unit have come from both homeowners and investors. The owner purchased the property in August 2017 for $1.41 million ($1,727 psf). Rent currently makes up part of the property, however, the owner has declined to disclose the rental price. EdgeProp Singapore’s Landlens tool shows that one-bedroom units at Fulcrum have been rented out at anywhere between $2,400 and $4,500 monthly.

On the higher level, the unit features a study, balcony and master bedroom with attached bathroom. On the lower level, there is a kitchen, dining area, living room and a balcony with floor-to-ceiling windows. Fulcrum was completed in 2016 and houses 128 units. Developed by CEL Developments, it is located within a short radius of shopping malls such as Parkway Parade at Marine Parade Road and i12 Katong at East Coast Road.

Lumina Grand EC CDL site, located at Jurong West Street 41, received 6 bids due to its attractive price.The highest bid of $310 psf ppr was submitted by a partnership of Hong Leong Holdings and Mitsui Fudosan. The lowest bid was $220 psf ppr from Qingjian Realty and Hoi Hup Realty.The site can potentially yield 516 residential units with a gross floor area of approximately 175,938 sqm. It is located near Jurong West MRT and has convenient access to Boon Lay bus interchange.

Units at Fulcrum typically sell for an average price of $2,119 psf, according to caveats lodged in the past 12 months. The most recent transaction was in April when a 474 sq ft one-bedroom apartment sold for $1 million ($2,111 psf). Before that, two apartments were sold in March.

So if you’re looking to own a freehold property in a desirable location with easy access to amenities, you may want to consider this upcoming auction.