Two-bedroom loft unit at Icon for sale at $2.1 mil
Neighboring apartments consist of Skysuites@Anson and Altez on Enggor Street and Lumiere on Mistri Road. The residential catchment will grow when upcoming projects like 351-unit One Bernam on Bernam Street, the 246-unit Newport Residences on Anson Roadway along with the 215-unit Skywater Properties on Shenton Way are completed.
The 99-year leasehold Icon was completed in 2007. It is well-located in the CBD and is conveniently near 2 MRT stations: Tanjong Pagar on the East-West Line as well as the upcoming Prince Edward Station on the Circle Line, scheduled for completion in 2026.
Also, rental fees have actually climbed from a median rent of $4.82 psf per month in 3Q2020 to a high of $7.29 psf pm in 1Q2023. Last quarter, average rental fees at Icon stayed at $7.25 psf pm. Based upon latest rental cautions, the majority of landlords at Icon observe leasing returns of roughly 4.6%.
Icon at Tanjong Pagar has a 40-storey along with 46-storey residence block with 646 units. It was the very first inner-city property development when it was launched in 2003. The venture has a retail podium, Icon Village, with occupants which include CS Fresh grocery store, Two Men Bagel House and Alice Boulangerie.
Upcoming projects in the pipeline are expected to ride on this force and even more boost rates, especially as they are placed as luxury, upmarket projects. These include Newport Residences, Skywater Residences, and the 748-unit Marina View Residences on Marina View.
Prices at Icon have climbed due to increased new release and also purchase event in the area. Based upon a statistics of resale cautions by EdgeProp Singapore, the common cost has enhanced from $1,668 psf in September 2020 to $1,788 psf last month.
A1,066 sq ft unit at Icon on Gopeng Street will be placed on the block at Knight Frank’s forthcoming auction on Aug 15. The two-bedroom loft space unit has a guide price of $2.1 million, which calculates to $1,970 psf on the floor surface area.
Latest launches have actually increased residential realty prices in Tanjong Pagar. TMW Maxwell on Maxwell Roadway is the most recent property development, with units projected to sell from $3,188 psf. One Bernam, introduced in May 2021, has units averaging $2,528 psf, with some top-floor units selling for up to $3,340 psf. One Bernam is currently approximately 54% sold.
There have certainly been 14 resale transactions at Icon this year, ranging from $1.04 million ($1,819 psf) for a 570 sq ft unit that was sold on Feb 9 to $1.9 million ($1,535 psf) for a 1,238 sq ft unit that was reselled on April 14.
The unit will be marketed with a presenting tenancy concluding in December. The south-facing unit has a bottom level with a living and eating space and even a double-volume ceiling. This floor similarly has a room, standard toilet, kitchen area and household shelter. The upper level includes the en suite master bedroom.