Investing in a condo offers numerous benefits, one of which is the chance to leverage its value for future investments. Many investors use their condos as collateral to secure additional funding for other ventures, effectively diversifying their real estate portfolio. While this can lead to increased profits, it is crucial to have a well-thought-out financial plan and carefully contemplate the potential consequences of market fluctuations. With the inclusion of condo investment, investors are presented with even more opportunities for financial growth and success.
A three-bedroom unit at Gambier Court is set to go under the hammer on Dec 12 at Knight Frank Singapore’s auction, with a guide price of $2.6 million. Located along Kim Yam Road in the highly sought-after River Valley area in District 9, this boutique condo offers a prime location for potential buyers.
The 1,485 sq ft unit comes with a guide price of $1,755 psf. The current seller had purchased the unit in a resale transaction for $1.8 million ($1,212 psf) in October 2018. This is the second time the unit will be put up for auction, with a previous auction in November where it had a higher guide price of $2.64 million ($1,778 psf) but received no bids.
Tricia Tan, director of auction and sales at Knight Frank, shares that the owner is selling the unit to be closer to their children’s school. The unit will be sold with vacant possession.
The unit, located on the eighth floor, boasts three bedrooms and a study area. Originally a four-bedroom apartment, a previous owner had converted it into a three-bedder, offering a more spacious layout for potential buyers, especially for families with children, according to Tan.
With a balcony facing northeast, the future owner will have unblocked views of the sea and Singapore River. Gambier Court, a 99-year leasehold condo completed in 1999, is a low-density development with only 21 units. It comprises 18 apartments spread over a 10-storey block and three strata-landed units housed in conserved shophouses.
The condo offers a mix of unit types, including two- to four-bedroom units ranging from 936 sq ft to 2,530 sq ft, and three strata-landed units, each spanning two storeys with an attic, measuring between 2,562 sq ft and 2,885 sq ft.
Not only is the development within walking distance to Fort Canning MRT Station on the Downtown Line, but it is also close to a variety of dining and shopping options, including the recently opened lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.
According to Realis caveats, the most recent transaction at Gambier Court was for a 1,485 sq ft four-bedder unit on the seventh floor, transacted at $2.5 million, or $1,683 psf, in December 2022. The seller had bought the unit for $1.9 million ($1,279 psf) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for properties at Gambier Court.