Three-bedder at The Windsor sold at $2.7 million profit
The Windsor 3 bedder unit, which is 2,452 square feet, was recently sold becoming the most profitable condo resale transaction based on caveats lodged with URA during the week of Aug 15 to 22. The 3 bedder unit which was sold for $3.41 million was previously purchased by the seller for $750,000 in August 2005 for $750,000 translating to a gross profit of $2.66 million, raking in a capital gain of 355% over a holding period of 18 years, making the most profitable resale transaction that has taken place at The Windsor to date. The previous record set was broken when a 2,497 sq ft unit exchanged hands for $2.45 million ($981 psf). the unit was then purchased by the seller for $860,000 ($344 psf) in August 2005, which means they rake in hefty windfall of $1.59 million. Located on Onatorio Avenue, off Upper Thomson Road in District 20, The Windsor is a freehold development that was completed in 1987. It has 159 apartments from nine townhouses at 2,497 sq ft each, three-bedroom apartments with multiple configurations ranging from 936 to 1,797 sq ft, and maisonettes of 1,819 to 3,853 sq ft each. Besides the unit sold on Aug 16, there has been only one other resale transaction at The Windsor to date this year. In March, a 2,013 sq ft unit fetched $2.95 million ($1,466 psf). Melrose Park is The second most profitable condo resale transaction during the week in review when three-bedroom residence was sold. The 1,292 sq ft unit on the eighth floor was transacted at $3.3 million ($2,555 psf) on Aug 18. the unit was previously bought from the developer by the seller for $1.206 million ($934 psf) in February 1999. Therefore, they make a nett gain of $2.094 million or 174% over a holding period of a quarter century. Melrose Park developed by CapitaLand located on Kellock Road, off River Valley Road in prime District 10, is a 999-year leasehold property. completed in 2000, The two 19-storey residential blocks with 170-unit development is in the River Valley residential enclave, located across the road from Great World City shopping centre which seamlessly connects to Great World MRT Station on the Thomson-East Coast Line. The development comprises different configurtations with unit mix includes three- to four-bedroom units ranging from 1,292 to 3,412 sq ft. Each block also has six penthouse units on the 19th floor that range from 3,606 to 5,231 sq ft.
