Seller Grange Residences Reaps 6 Mil Profit Resale

The top profitable resale during the week of September 2 to 9 was recorded at Grange Residences, where a 2,852 sq ft unit on the 15th floor was sold for a profit of $6 million (143%). This four-bedroom unit, which was purchased for $4.2 million ($1,472 psf) in 2005, was sold for $10.2 million ($3,576 psf) based on a caveat lodged on September 8. Based on an annualized gain over 20 years, this profit translates to a 4.5% increase.

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This latest sale at Grange Residences surpassed a previous transaction in July for another 2,852 sq ft four-bedroom unit that was sold for $9.74 million ($3,414 psf) on July 3. The unit was previously acquired for $3.94 million ($1,382 psf) in 2004, resulting in a profit of $5.8 million.

Grange Residences is a freehold luxury development located on Grange Road in prime District 10. Other luxury condominiums in the vicinity include 3 Orchard By-The-Park, Cuscaden Reserve, Park Nova, and Upperhouse at Orchard Boulevard, which was launched in July.

A four-bedroom penthouse at The Shelford recorded the second highest profitable resale during the week. The 2,174 sq ft duplex was sold for $4.94 million ($2,271 psf) on Sept 4. The unit was acquired for $1.44 million ($664 psf) in 2002, resulting in a profit of $3.5 million (242%) and an annualized gain of 5.4% over 23 years.

This sale came close to breaking the record profit at The Shelford, which was a 2,411 sq ft duplex penthouse that transacted for $5.1 million ($2,115 psf) in September 2024, after it was acquired for $1.55 million ($644 psf) in 2002.

In comparison, the latest transaction at The Shelford is the first resale deal lodged at the freehold condo this year. In 2023, there were five resales recorded that ranged from $1.43 million ($1,845 psf) for a 775 sq ft unit to $3.08 million ($2,601 psf) for a 1,184 sq ft unit. This includes a 1,604 sq ft penthouse that changed hands for $3.49 million ($2,176 psf) on Aug 13, 2024.

The sale of a four-bedroom unit at Turquoise was the least profitable resale during the week. The 2,400 sq ft unit on the fourth floor was sold for $3.3 million ($1,374 psf) on Sept 8, which was a significant drop from the previous price of $6.22 million ($2,593 psf) back in2007. This resulted in a loss of $2.93 million (47%) and an annualized loss of 3.5% over nearly 18 years.

According to lodged caveats, this is the 25th consecutive resale transaction at Turquoise where sellers have walked away with a loss. This streak has been ongoing since November 2015.

So far this year, there have been three resale transactions at Turquoise. The most recent sales involved a 2,088 sq ft three-bedder on the third floor that was sold for $3.1 million ($1,485 psf) on Aug 5, incurring a loss of $2.35 million; and a 2,497 sq ft four-bedroom unit on the fifth floor that fetched $3.5 million ($1,402 psf) on June 26, resulting in a loss of $3.12 million.

Turquoise is one of 10 luxury condos in the exclusive Sentosa Cove waterfront residential enclave. With sea or marina views, units at Turquoise also come with private berths for boats.