A landmark in Tanjong Pagar, the Guoco Tower is an integrated development boasting a wide variety of amenities. Its upmarket residential component, Wallich Residence, stands tall on the 39th to 64th floors of the skyscraper. This month, a one-bedroom unit located on the 46th floor will be put up at a private treaty sale.
Measuring 646 sq ft in size, this unit is priced at $2.36 million, which translates to $3,650 psf. Boasting an open layout, it includes a kitchen and dining area, a living room, and an en suite bedroom. It is the perfect abode for a small family or for those seeking an affordable CBD residence.
Designed by the renowned SOM, the building was completed four years ago and has since been highly sought after. Prices of units sold at Wallich Residence when it was first previewed in December 2013 stood at an average of $3,064 psf, making it a record for a 99-year leasehold property in the CBD back then.
Since then, purchase prices have continued to skyrocket. The most recent one-bedroom unit sold by the developer was a 646 sq ft unit on the 49th floor that went for $2.1 million ($3,252 psf) on December 29th, 2021. This was surpassed by the sale of a 1,259 sq ft unit on the 60th floor which fetched $5.25 million ($4,169 psf) in December 2022.
Today, rental yields at Wallich Residence remain fairly high at 3.2%. The indicative rental range for the 12-month period from January 2022 to January this year is between $7.40 and $12.40 psf per month (pm) with the average rent at around $9 psf pm.
Standing at 290m, the Guoco Tower is Singapore’s tallest skyscraper. Besides the Wallich Residence, the building also boasts a Champions Way Condo 223-room Sofitel Singapore City Centre luxury hotel, a 100,000 sq ft retail space, and a 150,000 sq ft urban park.
The 646 sq ft one-bedroom unit at Wallich Residence (centre) will be put up for private treaty sale this month. With its attractive starting price of $2.36 million, it’s no surprise that this unit is expected to draw a lot of attention with its great value for money.