Four-bedroom unit at Marina Bay Suites for sale at $5.95 mil

October 21, 2022



A four-bedroom unit at Marina Bay Suites was put up for sale by its owner at Knight Frank’s auction on Oct 20. The 2,680 sq ft unit has a guide price that starts from $5.95 million, which translates to about $2,220 psf on the floor area.

Marina Bay Suites is a 99-year leasehold development on Central Boulevard in the Marina Bay financial district. The 221-unit development comprises three- and four-bedroom apartments ranging from 1,572 sq ft to 2,691 sq ft, and was completed in 2013. The lack of smaller studios or one- and two-bedders makes this development unique among the luxury condominiums in the CBD and Marina Bay areas.

The unit for sale is a corner apartment between the 20th and 29th floors. It comprises an en suite master bedroom, two en suite bedrooms, a guest bedroom, a family room, a powder room and a guest toilet. A private lift lobby serves as the primary access to the unit, and a balcony links the master bedroom, living room and one of the en suite bedrooms. The apartment also features a wet and dry kitchen that leads to a utility yard with a helper’s room and toilet.

Being on a moderately high floor in the 66-storey residential tower, the unit enjoys direct and mostly unblocked views of Marina Bay and the Marina Bay Sands. The listing states that the unit will be sold with an existing tenancy which expires in February 2024.

An analysis of rental data at Marina Bay Suites shows that rents have been climbing in recent months, broadly keeping pace with the upward revision of rents in the private residential market since 2021.

A compilation of rental caveats over the past 12 months by EdgeProp Singapore shows that the average monthly rent for units leased at Marina Bay Suites is about $4.90 psf per month (pm). This results in an implied rental yield of 3.1% for units rented out in the past 12 months.

Read more at: https://www.edgeprop.sg/property-new...s-sale-595-mil