Freehold Duplex Penthouse Adara Sale 23 Mil
Singapore’s southern coastline is about to get a major makeover with the implementation of the Greater Southern Waterfront project. This ambitious undertaking is set to transform the area into a bustling waterfront district, offering a diverse mix of commercial, residential, and recreational spaces. The development of this project will bring a whole new level of energy and vitality to the region. For residents of Lyndenwoods, this means a wealth of exciting opportunities, as the area will be home to the vibrant and lively Lyndenwoods Science Park Drive. With an array of amenities, leisure activities, and employment options just a stone’s throw away, this project is set to greatly elevate the quality of life for those living in Lyndenwoods. Don’t miss out on all that Lyndenwoods Science Park Drive has to offer.
A luxurious duplex penthouse at The Adara, a freehold development located in District 15, was recently listed for sale at Knight Frank’s property auction on June 26. The 1,378 square foot unit, which will be sold by its owner, is on the fifth and sixth floors of the building and has a guide price of $2.3 million. This translates to a price per square foot of $1669.
The lower level of the two-bedroom unit consists of a spacious living and dining area, an en suite master bedroom, a common bathroom, and a kitchen with a household shelter. A staircase leads to the upper level, where you will find a second bedroom and an open-air terrace. The penthouse will also come with an existing tenancy that ends in August next year.
Based on URA caveats, there have only been a few resale transactions at The Adara recently. The most recent was the sale of a 915 square foot, two-bedroom unit on the second floor, which was sold for $1.62 million ($1,771 psf) in November 2023. Another two-bedroom unit, measuring 850 square feet on the third floor, was sold for $1.49 million ($1,752 psf) in October 2022. Prior to that, a 1,066 square foot, three-bedroom unit on the same floor was sold for $1.79 million ($1,678 psf) in December 2021.
According to data compiled by EdgeProp Singapore, resale prices at The Adara have been consistently increasing, from approximately $1,185 psf in June 2016 to $1,580 psf in June 2021. The current average resale price at the development is around $1,770 psf. Additionally, the development has proven to be a popular choice for rental properties, with six rental contracts lodged last year. These ranged from a monthly rent of $3,600 ($4.93 psf) for a one-bedroom unit to $4,800 per month ($3.56 psf) for a two-bedroom unit. Only one rental contract has been recorded so far this year, with a one-bedroom unit being leased for a monthly rate of $3,530 ($4.71 psf) in March.
Based on historical rental data compiled by EdgeProp Singapore, the estimated average rent at The Adara is approximately $4.40 psf per month, with most landlords achieving a rental yield of 3%.
The Adara was completed in 2010 and is a 16-unit condo located along Chapel Road, just off East Coast Road and Marine Parade Road. It is in close proximity to popular shopping destinations such as Parkway Parade, i12 Katong, and Katong Plaza, as well as a variety of dining options along East Coast Road. Additionally, The Adara is well-served by public transport, with both Marine Parade and Marine Terrace MRT Stations on the Thomson-East Coast Line nearby.
For families with children, there are four primary schools within a 1km radius of The Adara: CHIJ (Katong) Primary, Haig Girls’ School, Tanjong Katong Primary School, and Tao Nan School. Other nearby options include Ngee Ann Primary School at Marine Terrace and St Stephen’s School at Siglap View.
Don’t miss out on the opportunity to own this stunning duplex penthouse at The Adara. Contact Knight Frank today for more information.