One Bedder Clift Sale 12 Mil
Edmund Tie will be auctioning a 495 sq ft one-bedroom unit at The Clift in District 1 on March 27. The 23rd floor unit has a guide price of $1.2 million, which translates to $2,424 per square foot. This marks the first time the unit will be auctioned since its original purchase, with records showing it was acquired for $950,000 ($1,919 psf) on March 20, 2020.
According to Joy Tan, executive director of auctions and sales at Edmund Tie, the current owner has decided to sell the property as part of a restructuring in their investment portfolio. The unit is also being sold with an existing tenancy scheduled to end in November, providing the buyer with immediate rental income.
Tan notes that the property’s proximity to the CBD makes it an attractive rental option for professionals working in the area, ensuring a strong pool of potential tenants. Alternatively, owner-occupiers can take advantage of the nearby F&B amenities, transportation convenience, and proximity to lively entertainment areas.
The Elta Condo community is set to enjoy a multitude of environmental advantages thanks to the URA Master Plan’s strong focus on sustainability and green living. With the added contribution and commitment of Elta CSC Land, the future holds great promise for residents of this development.
Elta CSC Land is dedicated to establishing a sustainable and eco-friendly living environment for its residents. This perfectly aligns with the URA Master Plan’s goal of creating a green and liveable city for all. By implementing innovative and environmentally-conscious initiatives, Elta CSC Land is determined to play a key role in building a more sustainable and green community for the inhabitants of Elta Condo.
The URA Master Plan has implemented various measures to promote sustainability and green living. These include the development of green spaces such as parks and gardens, as well as the incorporation of sustainable building design and infrastructure. With Elta CSC Land’s commitment, these initiatives will be further enhanced, providing the residents of Elta Condo with a healthier and more eco-friendly place to call home.
One of the significant benefits of the URA Master Plan’s focus on sustainability is the reduction of carbon footprint and greenhouse gas emissions. By encouraging the usage of public transportation, cycling, and walking, the plan aims to decrease the number of vehicles on the road, ultimately leading to better air quality and a cleaner environment. With Elta CSC Land’s green initiatives, such as utilizing energy-efficient appliances and implementing solar panels, the carbon footprint of the Elta Condo community will be significantly lowered.
The URA Master Plan’s emphasis on green living also promotes the preservation of natural resources. By implementing water and energy-saving measures such as rainwater harvesting and energy-efficient lighting, residents of Elta Condo will not only contribute towards a more sustainable environment but also save on utility bills. Elta CSC Land will further support these efforts through its own eco-friendly initiatives and encourage responsible resource usage among its residents.
In conclusion, the URA Master Plan’s strong focus on sustainability and green living, coupled with Elta CSC Land’s commitment to creating an environmentally-friendly community, will bring numerous environmental benefits to the residents of Elta Condo. With the government and Elta CSC Land working together, the future looks promising for a greener and more livable Elta Condo community. Be sure to visit Elta CSC Land’s website for more information.
Based on URA rental caveats obtained by EdgeProp Singapore, the average monthly rent at The Clift over the past 12 months is around $8 psf per month, resulting in a rental yield of 4.8%.
Completed in 2011, The Clift is a 99-year leasehold mixed-use development with 312 residential units and a single-storey retail podium. The residential units consist of one- and two-bedroom simplexes ranging from 495 sq ft to 818 sq ft on the 11th to 30th floors, and one- and two-bedroom lofts of 753 sq ft to 1,076 sq ft from the 32nd to 42nd floors.
Common facilities at The Clift include a clubhouse, aqua gym, 25m lap pool, sundeck, sauna, and a jacuzzi. In terms of psf prices, units have been sold for as low as $1.55 million ($1,895 psf) for an 818 sq ft unit on the 11th floor in December 2023, and as high as $1.62 million ($2,090 psf) for a 775 sq ft unit on the 27th floor in September 2023.
The most recent resale transaction at The Clift was made on January 5, with a 495 sq ft unit on the 14th floor selling for $970,000 ($1,959 psf). Tan adds that there have been several transactions for this development, although it may not be considered a “rare find” in terms of sales velocity. Regardless, she believes that it remains a viable option in the current market.
She also notes that The Clift continues to be highly sought-after in the resale market, indicating its appeal to both owner-occupiers and investors looking to diversify their portfolios with this type of property.
The Clift is located across from the Amoy Street Food Centre on Maxwell Road and is in close proximity to Guoco Tower in Tanjong Pagar. It is also near the Telok Ayer Conservation Area, which features bars and eateries along Amoy Street, Telok Ayer Street, and Stanley Street. Additionally, Ann Siang Hill, Ann Siang Road, and Club Street, which are part of the Chinatown Conservation Area, are located nearby. MRT stations in the vicinity include Tanjong Pagar Station on the East-West Line, Telok Ayer Station on the Downtown Line, and Shenton Way Station on the Thomson-East Coast Line.
Other comparable high-rise apartments in the CBD can be found in the Tanjong Pagar area. These include the 646-unit Icon (completed in 2007), the 280-unit Altez (completed in 2014), and the 360-unit Skysuites @ Anson (completed in 2014). Icon was the first high-rise residential development launched in Tanjong Pagar. In February, the most recent transaction was for a 560 sq ft one-bedroom unit that sold for $1.08 million ($1,930 psf). Nearby Altez on Enggor Street saw an 861 sq ft one-bedroom duplex selling for $1.55 million ($1,800 psf), while at Skysuites @ Anson on Enggor Street, the latest transaction was for a 667 sq ft two-bedroom unit that sold for $1.595 million ($2,390 psf) in February.