The condo has had a steady rental track document. Until now this year, at least 36 systems have been rented out, contrasted to at least 60 systems that were rented in 2021. A compilation of rental data over the past 12 months by EdgeProp Singapore shows that the average rent has to do with $5.60 psf per month. EdgeProp Singapore also approximates that proprietors who rent out their units enjoy an approximate rental return of 3.5%.
There are 16 penthouse units at Suites at Orchard that vary from 840 sq ft one-bedders to 1,485 sq ft, two-bedroom devices. Until now, the most costly penthouse offered was a 1,485 sq ft, two-bedroom device that altered hands for $2.7 million ($1,818 psf) Zion Road Condo in April 2016.
Suites at Orchard is a 99-year leasehold development along Handy Road in prime District 9. The 118-unit development was finished in 2014. Located in the Dhoby Ghaut area, the condominium is additionally close to the arts and also heritage areas along Bras Basah, Bencoolen Street as well as Middle Road. The National Museum, the Singapore Management University university and the School of the Arts are also close by.
There are five shop property growths that line Handy Road, a short road on the edge of Mount Sophia. Suites at Orchard is the house closest to the Plaza Singapura mall, and also located next to it is the Haus on Handy, which is expected to be completed next year. In the location is The Luxe, a store advancement with simply 20 apartment or condos for lease that was finished in 2007. There is likewise Nomu, which includes just 50 houses and also was introduced up for sale in 2006 as well as completed in 2009. There is The Cathay Residences, which is part of the mixed-use growth The Cathay, a site situated at the end of Orchard Road.
A two-bedroom penthouse unit at Suites at Orchard is on the market for $2.27 million. The guide cost for the 1,367 sq ft device translates to about $1,660 psf based on the flooring area. Based on URA cautions, deals including penthouse devices at Suites at Orchard are rare. No systems of any type of size were sold in between October 2018 and also December 2020 and also just four units have been offered in the past 18 months. Much this year, at least 36 units have actually been rented out, compared to at the very least 60 units that were rented in 2021.
The unit features a regular layout with an en suite bedroom, a typical shower room as well as a 2nd room. A small service lawn is connected to the open-concept kitchen area, which introduces the living and also dining-room. A staircase in the living-room causes the upper flooring and also a balcony beside the living-room dealing with Handy Road, while the top floor consists of an unsheltered roof covering terrace. According to the home listing, the unit is tenanted until December 2023 and will be offered with the existing tenancy.
Suites at Orchard benefits from its proximity to the Orchard Road buying belt and the arts as well as heritage district at Bras Basah as well as Bencoolen Street.
Based on URA caveats, deals entailing penthouse units at Suites at Orchard are rare. No systems of any kind of dimension were marketed between October 2018 as well as December 2020 and only four systems have been offered in the past 18 months. The most recent purchase was for a 732 sq ft unit that was sold for $1.4 million ($1,913 psf) on May 27.
Cairnhill Nine Project Details
The Dhoby Ghaut area is offered by Dhoby Ghaut MRT Station, which is an interchange offering the North-South, North-East as well as Circle Lines. Bencoolen MRT Station on the Downtown Line and also Bras Basah MRT Station on the Circle Line are also close by.
A two-bedroom penthouse system at Suites at Orchard gets on the market for $2.27 million. The overview cost for the 1,367 sq ft system converts to about $1,660 psf based on the floor area. An owner’s sale, the unit will certainly be put up for public auction by ERA Realty on July 26.
