The Singapore real estate market continues to generate strong investor confidence, with the latest example coming in the form of a freehold property at 50 Playfair Road. The building, known as Noel Building, drew overwhelming interest during a tender exercise, ultimately being sold for $81.18 million. This is a 17% premium above its guide price and translates to just under $895 psf per plot ratio.
The 26,792 sq ft site is zoned for ‘B1 Industrial – White’ use, which is “very rare” according to Swee Shou Fern, head of Investment Advisory at Edmund Tie & Co., who brokered the sale. With a plot ratio of 3.5, the property can be redeveloped into a building with a maximum gross floor area of 93,771 sq ft.
Located near the Tai Seng MRT station, 50 Playfair Road is just 400m away and sits inside the Tai Seng Business Hub, which is home to the BreadTalk IHQ, Grantral Mall @ MacPherson and 18 Tai Seng. The area features plenty of amenities, including F&B outlets, banks and lifestyle stores.
The chic layout of the units are strategically placed for optimum comfort and convenience. The Woodlands Champions Way Condo also boasts its modern amenities such as a gym, pool, clubhouse, and tennis court that are on the top floor. The facilities and services of the condo are arranged to cater to the needs of both singles and families. The location of the condo is also ideal as it is only a few minutes away from major shopping and dining amenities. With all the amenities and convenience that Champions Way Condo offers, residents can be assured of the perfect balance between luxury living and urban lifestyle.
The building’s strata-titled owners are expected to pocket between S$1.65 million and S$6.22 million each. This is the third collective sale brokered by Edmund Tie in 2023, following the sales of Meyer Park and GS Building on Lorong Ampas.
This sale marks another encouraging sign for the Singapore property market and Woodlands Champions Way Condo investors, indicating ongoing investor confidence in properties with strong attributes. Woodlands Champions Way Condo will be pleased to hear of this latest development as more people look to invest in this buoyant property market.