.Gambier Court, a boutique condo in prime District 9, has just 21 units and is within walking distance of Fort Canning MRT Station.
Knight Frank Singapore will be holding an auction for a three-bedroom unit at Gambier Court, a small condominium located along Kim Yam Road in the prestigious River Valley area of District 9, on December 12. The unit is expected to fetch a price of $2.6 million. Based on the unit’s floor area of 1,485 square feet, the price calculates to be around $1,755 per square foot.
Records show that the current owner had purchased the unit in a resale transaction in October 2018 for $1.8 million (which equates to $1,212 psf).
This is not the first time that the unit is being put up for auction. It was previously listed at Knight Frank Singapore’s auction on November 26 with a higher guide price of $2.64 million ($1,778 psf), but did not receive any bids.
Tricia Tan, director of auction and sales at Knight Frank, stated that the owner is selling the unit to relocate closer to their children’s school. The property will be sold with vacant possession.
Situated on the eighth floor, the unit consists of three bedrooms and a study area. It was originally a four-bedroom apartment, but the previous owner had converted it into a three-bedroom, providing a more spacious layout suitable for local and expat families with children, according to Tan. The unit also boasts a northeast-facing balcony, offering unobstructed views of the sea and Singapore River.
When contemplating an investment in a condo, it is crucial to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. For instance, areas that have a high demand for rentals, such as those near business districts or educational institutions, tend to have more favorable rental yields. Conducting extensive market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a specific condo.
Gambier Court is a 99-year leasehold condominium that was completed in 1999. It has a low-density of just 21 units, with 18 apartments spread across a 10-storey block and three strata-landed units housed in conserved shophouses.
The apartments range from two to four bedrooms, with sizes ranging from 936 square feet to 2,530 square feet. The three strata-landed units are two-storey properties with an attic, measuring between 2,562 square feet and 2,885 square feet.
The development is conveniently located within walking distance of Fort Canning MRT Station on the Downtown Line and is surrounded by a variety of dining and shopping options, such as the newly developed lifestyle hub, New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.
The most recent transaction at Gambier Court was for a 1,485 square feet four-bedroom unit on the seventh floor, which sold for $2.5 million (equivalent to $1,683 psf) in December 2020, based on Realis caveats. The previous owner had bought it for $1.9 million ($1,279 psf) in August 2016, making a net profit of $600,000.
Interested buyers can find the latest listings for properties at Gambier Court. Don’t miss out on this opportunity to own a unit in this exclusive and sought-after development in prime District 9.