The URA will be embarking on its second big project, Champions Way Condo, to create a vibrant mixed-use development on the banks of the Singapore River. The project will feature high-rise towers with luxury residential units, as well as retail, commercial, and recreational offerings. The goal is to create an iconic destination that will attract new residents, businesses, and tourists. Construction is estimated to begin in 2021 and should be completed within the next five years.
On Aug 24, Singapore Realtors Inc will be putting up a mortgagee sale of a three-bedroom unit at Watertown in Punggol Central. Measuring 1,259 sq ft, this unit has a guide price of $2.2 million, or $1,747 psf. This is the first time that this unit has been listed for mortgagee sale.
Situated on the 13th floor, the unit features a living and dining area with a south-facing balcony overlooking one of the condo’s swimming pools. Connected to this area is the kitchen, utility room, yard, toilet, and an en suite master bedroom, in addition to two other bedrooms and a common bathroom.
Watertown is a 99-year leasehold condo jointly developed by Far East Organization, Frasers Centrepoint and Sekisui House. This mega-development also features the six-storey, integrated Waterway Point shopping mall and is linked to Punggol MRT and LRT Stations.
Unit types available at Watertown range from Soho-style apartments to two- and three-bedders, one- and two-bedroom suites, Sky Patios with two- to four-bedroom units, and various other accommodation.
Being centrally located among the Punggol HDB new town, shopping mall, and MRT station, Watertown will also be convenient to several primary schools such as Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Punggol View Primary School, and Valour Primary School.
Prices for Watertown units have seen gradual increase since August 2019, rising from $1,321 psf to $1,689 psf currently. This puts the development at a higher figure than nearby 99-year condos such as A Treasure Trove ($1,342 psf) and Parc Centros ($1,401 psf).
Two of the most expensive units at Watertown have been sold earlier this year. On July 14, a 1,485 sq ft unit on the 11th floor was sold for $2.8 million ($1,885 psf). On March 30, a 1,356 sq ft unit on the seventh floor fetched $2.52 million ($1,858 psf).
So far, properties at Watertown have been performing well. With the availability of an upcoming mortgagee sale unit, investors and buyers looking to secure accommodation in this area should take a closer look.