Three-bedder at OUE Twin Peaks up for sale at $4.8 mil
Athree-bedroom unit plus study at OUE Twin Peaks has been put up for sale via private treaty with an asking price of $4.8 million, or $2,993 psf. It is an owner’s sale, says Knight Frank Singapore, which is marketing the property.
Located at 33 Leonie Hill Road, OUE Twin Peaks is a 99-year leasehold development by OUE and was completed in 2015. The project has 462 units across two 35-storey towers. Units range from one- to three-bedders, with sizes ranging from 549 sq ft to 1,604 sq ft.
The unit being put up for sale spans 1,604 sq ft, and is one of the largest units in the development. Situated on the 12th floor, it is a corner unit with views of Orchard Road from the living room, the balcony as well as the master bedroom. The other bedrooms share a common bathroom. There is also a separate helper’s room in the utility area next to the wet and dry kitchen.
The unit was previously purchased for $4 million ($2,499 psf) in June 2016. It is currently leased at a monthly rental rate of $8,500, with the lease due to expire on June 28, 2023. Knight Frank’s manager of auction and sales Noelle Tan says the owner is looking to sell the property with the existing tenancy. Based on the asking price of $4.8 million, the unit would provide a gross rental yield of around 2.1% per annum.
Three units at OUE Twin Peaks have changed hands so far this year based on caveats lodged. On Jan 6, a 549 sq ft unit changed hands for $1.2 million ($2,186 psf). The previous owner had purchased it for $1.71 million ($3,122 psf) in May 2013.
Meanwhile, a 1,055 sq ft, two-bedroom unit on the 26th floor was sold for $2.67 million ($2,546 psf) on Feb 17. It was purchased for $3.21 million ($3,043 psf) in October 2016. The latest transaction was for a 1,399 sq ft, three-bedroom unit on the 15th floor that was sold for $3.32 million ($2,373 psf), based on a caveat lodged on Feb 22. The unit was purchased for $3.65 million ($2,609 psf) in August 2016.
OUE Twin Peaks is located in prime District 9, close to the Orchard Road shopping strip and near Ion Orchard and Orchard Road MRT Station, which will be a future interchange for the North-South and Thomson-East Coast Lines. Other malls in the vicinity are Ngee Ann City, Mandarin Gallery and 313@ Somerset.