Under the Hammer
Draycott Eight unit for sale at $2.4 mil
A1,561 sq ft unit at Draycott Eight along Draycott Park in District 10 will be put up for auction on Sept 25. This is an owner’s sale with a guide price of $2.38 million ($1,524 psf), according to Edmund Tie, which is handling the auction.
The 21st-floor unit has two bedrooms, and both overlook the greenery of Goodwood Park and its black-andwhite bungalows, says Joy Tan, head of auction and sales at Edmund Tie. Residents of the unit will also be served by a private lift, and will be greeted by a spacious living room with doublevolume ceiling height upon entering, Tan says. The unit is also north-south facing.
“At the heart of the development is a 16,000 sq ft, two-storey, conserved colonial house which has been converted into a modern and exclusive clubhouse, one of the largest clubhouses in Singapore,” she adds.
The unit was first purchased at $3.58 million ($2,294 psf) in May 2007.
“With prices in Districts 9 and 10 rising to between $3,000 and $4,000
psf, this unit still offers buyers a spacious two-bedroom unit at below $2,000 psf, quite a rarity in today’s market,’’ says Tan.
Based on caveats lodged with URA, rental for two-bedroom units of comparable size ranges from $6,000 to $6,200 a month.
Draycott Eight, completed in 2005, comprises 136 units on a 99-year leasehold. Developed by Wing Tai Holdings, it is within 15 minutes by foot to the Orchard Road shopping belt, and Orchard and Newton MRT Stations on the North-South Line. It is also in proximity to medical institutions such as Gleneagles Hospital and Mount Elizabeth.
The most recent transaction at Draycott Eight was for a 2,896 sq ft, four-bedroom unit on the sixth floor. The unit was sold for $5.72 million ($1,975 psf) on May 7. E