The super penthouse belongs to Sculptura Ardmore by Simon Cheong’s SC Global Developments. The penthouse is understood to take up the top two levels of the freehold project. The penthouse is reported being transacted at an eye-popping price of over $6,000 per square foot!
The strata area of the penthouse is said to be about 10,300 square foot. The overall price works out to be more than S$60 million. This price is way above the S$51 million that Alibaba co-founder Sun Tongyu paid for the sole penthouse at Wing Tai’s Le Nouvel Ardmore in 2015. That deal translated to be S$3,757 psf on the reported strata area of 13,573 sq ft spread over the top two levels of the 33-storey freehold project.
Sculptura Ardmore is a 36-storey freehold project which only has 34 exclusive units. The penthouse of about 10,300 sq ft comes with a cantilevered private pool. Information on the unit is limited, as SC Global keeps all details private and only allow viewings after screening the potential buyer profiles.
Till date, there are no caveats for the freehold project. That could have been the first unit sold in that development.
This is the first time a price of more than $6,000 psf is achieved in the Ardmore Park residential enclave. The highest price in Ardmore Park has never crossed $5,000 psf.
Possible reasons why the penthouse was able to fetch that kind of pricing is because of its posh address, freehold tenure and most importantly its privacy. The penthouse is the highest point in Ardmore Park. It will not be overlooked by any other residence in that area.
The buyer of the penthouse is most probably to be a foreigner as a Singaporean citizen would have bought a Good Class Bungalow instead. Foreigners are not eligible to purchase landed properties in Singapore except in Sentosa Cove, however those are on 99-year leasehold land. Which is not as appealing. Hence, their most preferred choice will be super penthouse in prime districts.
The luxury market has seen sales pick up with GuocoLand’s Martin Modern fully sold their phrase 1 units during the first launch. The prices ranged from $2,009 to $2,500 psf. With this fantastic sales results GuocoLand is also said to be raising prices soon! (Articles: GuocoLand looking to raise prices)
Investors looking for brand new developer units along Ardmore Park can also check out Ardmore Three. The units available now are all above level 30. The views there are spectacular! Do contact their sales staff for an exclusive viewing of their actual units.