reporter2
25-03-22, 11:50
Desmond Sim’s work-life converge at bachelor pad in Namly Place
EdgeProp Singapore
March 25, 2022
SINGAPORE (EDGEPROP) - Desmond Sim, CEO of Edmund Tie, purchased his home after viewing it for just 15 minutes. And he wasn’t even looking for a property then. It was sometime in the middle of last year before he officially joined Edmund Tie on July 1 as CEO. He was previously head of research for Southeast Asia at CBRE.
“I was very intrigued by the prices of new 99-year leasehold project launches, which had risen last year, while prices of older, freehold or 999-year leasehold apartments and condominiums had stagnated,” says Sim. And he decided to do some research to find out why.
In the course of his research, he chanced upon a 1,130 sq ft, 999-year leasehold apartment at Namly Place. The asking price was just north of $1,500 psf. He arranged for a viewing the following Saturday and made an offer for the apartment after 15 minutes. He purchased the property in July, and his next visit to the apartment was on his birthday — Oct 3, 2021.
On this next visit, he was accompanied by his friend, a renovation contractor. But after inspecting the roof and every inch of the apartment, the verdict was that he didn’t need to have anything fixed. The apartment had been well-renovated by the previous owners in 2017. After the inspection, “I gave myself a high five”, Sim remembers.
https://i.imgur.com/6m4KrXt.jpg
He had chanced upon a gem. The apartment sits on the second floor of a row of shophouses built in the 1960s, with a 999-year lease from Jan 1, 1967. The row of shops beneath his apartment include the bakery and café Baker & Cook, Italian restaurant Amano and Plank Sourdough Pizza. The surrounding is the Namly private landed housing estate, located off Bukit Timah in prime District 10. Sim has been taking daily walks and exploring the neighbourhood, and “I’m surprised at how connected it is to parks”.
Read more at: https://www.edgeprop.sg/property-news/desmond-sim%E2%80%99s-work-life-converge-bachelor-pad-namly-place
EdgeProp Singapore
March 25, 2022
SINGAPORE (EDGEPROP) - Desmond Sim, CEO of Edmund Tie, purchased his home after viewing it for just 15 minutes. And he wasn’t even looking for a property then. It was sometime in the middle of last year before he officially joined Edmund Tie on July 1 as CEO. He was previously head of research for Southeast Asia at CBRE.
“I was very intrigued by the prices of new 99-year leasehold project launches, which had risen last year, while prices of older, freehold or 999-year leasehold apartments and condominiums had stagnated,” says Sim. And he decided to do some research to find out why.
In the course of his research, he chanced upon a 1,130 sq ft, 999-year leasehold apartment at Namly Place. The asking price was just north of $1,500 psf. He arranged for a viewing the following Saturday and made an offer for the apartment after 15 minutes. He purchased the property in July, and his next visit to the apartment was on his birthday — Oct 3, 2021.
On this next visit, he was accompanied by his friend, a renovation contractor. But after inspecting the roof and every inch of the apartment, the verdict was that he didn’t need to have anything fixed. The apartment had been well-renovated by the previous owners in 2017. After the inspection, “I gave myself a high five”, Sim remembers.
https://i.imgur.com/6m4KrXt.jpg
He had chanced upon a gem. The apartment sits on the second floor of a row of shophouses built in the 1960s, with a 999-year lease from Jan 1, 1967. The row of shops beneath his apartment include the bakery and café Baker & Cook, Italian restaurant Amano and Plank Sourdough Pizza. The surrounding is the Namly private landed housing estate, located off Bukit Timah in prime District 10. Sim has been taking daily walks and exploring the neighbourhood, and “I’m surprised at how connected it is to parks”.
Read more at: https://www.edgeprop.sg/property-news/desmond-sim%E2%80%99s-work-life-converge-bachelor-pad-namly-place