Four-bedder at freehold Honolulu Tower going for $16.5 mil
The most recent estate development in the place is Perfect Ten, a 230-unit project launched for sale in 2021. The high-end project was totally marketed last June at an average rate of about $3,400 psf. Other freehold developments in the area consist of Wing On Life Garden on Bukit Timah Road, in which deal prices average $2,255 psf, and Palm Spring on Ewe Boon Road, which sees a typical cost of $2,284 psf.
Tan expects the unit is going to interest customers looking for large-size apartments to accomodate household desires, as well as those who prepare to send their kids to any one of the neighboring academies.
A distinctive feature of the real property’s style is a garden balcony that covers all over half of the unit. This outdoor balcony is accessed from the living room, private family hall, bedroom, and among the other bedrooms. All the bedrooms are en suite. The real estate also offers different living and dining-room, along with an enclosed cooking area that point to a yard and a helper’s space.
It is unusual to get a large-sized apartment just like this on the market nowadays, as current brand-new launch projects rarely offer units of this measurements, mentions Tricia Tan, director of auction and sales at Knight Frank. “This unit feels quite like a ‘bungalow in the sky’ given its roomy design,” she explains, adding that the interest for large-sized high-end units currently surpasses the available resale source out there.
According to Knight Frank, the unit up for sale is currently leased for about $25,000 per month and the tenancy will end in November 2026. There were 6 rental transactions lodged at Honolulu Tower last year, with rents ranging from $30,000 (or about $10 psf each month) to $12,000 ($4 psf each month).
A four-bedroom unit at Honolulu Tower is on the market via private treaty and advertised by Knight Frank Singapore. It will be an operator’s sale and the 5,821 sq ft unit has an overview cost of $16.5 million, which translates to $2,834 psf on the floor area.
Based upon cautions lodged, resale purchases at Honolulu Tower are infrequent. The most current transaction took place in June 2021, when a four-bedder on the 7th ground was cost $10.8 million ($1,855 psf). Some other four-bedroom unit on the 12th flooring fetched $9.1 million ($1,563 psf) in July 2019.
The condo is near to several popular institutions, amenities and the general public transport network. According to OneMap, the project is just within 1km of Anglo-Chinese Academy (Primary) and Singapore Chinese Girls’ Primary School. Higher education schools in the vicinity include St Joseph’s Institution and Catholic Junior College. In addition, Honolulu Tower is located in between 2 MRT interchanges– Stevens on the Downtown and Thomson-East Coast Lines, along with Newton on the North-South and Downtown Lines.
“Honolulu Tower is an in-demand property development given its freehold tenure and place inside an affluent residential area near to Newton and Balmoral Road. It’s relative low-density with only 30 exclusive four-bedroom units over a huge site area of about 68,864 sq ft also causes it to a pleasing development,” sats Tan.
Completed in 1985, Honolulu Tower is a freehold development on Bukit Timah Roadway in prime District 10. There are just 30 units throughout the 16-storey project, which consists of four-bedroom units of 5,823 sq ft and a set of 10,312 sq ft penthouses.
Regardless, resale costs at Honolulu Tower climbed from around $940 psf in May 2010, to around $1,810 psf a decade later on. Based upon a collection of resale signs by EdgeProp Singapore, the condo’s typical cost today is around $1,855 psf.
