Three-bedder at Fernwood Towers for sale at $2.88 mil

A three-bedroom unit located at Fernwood Towers, a condo along Fernwood Terrace in district 15, will be put up for auction at an owner’s sale on August 15th. This unit is 1,647 square feet in size, with a guide price of $2.88 million. According to Lock Sau Lai, senior manager of Auction and Sales at Knight Frank handling the sale, this unit is a corner one, making it affords the future owner privacy.

Situated on the 11th floor, its living area overlooks the intersection of Marine Parade Road and Siglap Road, as well as having partial sea views. In addition to the three bedrooms, the unit includes a large kitchen, service yard, a helper’s room, and storeroom. All of its rooms face either southeast or north, avoiding harsh afternoon sun, and having plenty of natural light and ventilation due to its high-floor position.

Completed in 1994, Fernwood Towers is a freehold development comprising of 216 condo units, split across four blocks on a site at the intersection of Marine Parade Road and Siglap Road. It includes a range of facilities, including a swimming pool, children’s pool, squash court, playground, table tennis room, a function room, and a mini-mart.

In 2018, the owners of Fernwood Towers attempted to put the development up for collective sale with a reserve price of $688 million but without success. Lock Sau Lai expects keen interest in the unit due to its District 15 location, giving it an advantage with being close to Siglap Centre, Siglap V, Parkway Parade, and the East Coast Park. The upcoming Siglap MRT Station on the Thomson-East Coast Line, is expected to open in 2024, and is merely a six-minute stroll away.

The untenanted property will be sold vacant, and offers the buyer the flexibility to occupy it or rent it out. According to URA data, recent rental transactions show three-bedroom units by fetching rents between $3,300 and $5,200. The most recent unit to change hands was a 1,636 sq ft three-bedder, which was sold on June 28 for $2.7 million ($1,650 psf) and a 1,195 sq ft unit for $2.02 million ($1,691 psf) on June 6.

Tengah Plantation EC has been identified as one of the key development areas to support the expansion of housing and overall development in Singapore. The URA intends to develop a vibrant town centre and housing estate which will be well supported by amenities and infrastructure. Residents will be able to take advantage of several lifestyle opportunities, such as shopping, dining and recreational activities. Additionally, a network of green/open spaces will also be built to strengthen the urban environment. With these measures being undertaken, Singapore can look forward to a better quality of life for its residents.

Not only does this condo offer lots of convenience and amenities due to its location, it also has the added advantage of being a freehold development. With interest expected by prospective buyers, the upcoming auction of a three-bedroom unit at Fernwood Towers is an opportunity not to be missed.