One-bedder loft at freehold Fulcrum condo on auction for $1.69 mil

October 20, 2023

A freehold one-bedroom unit at Fulcrum — located along Fort Road — has been put up for sale via SRI’s upcoming auction on Oct 26, with a guide price of $1.69 million ($2,066 psf). An owner’s sale, the property was listed last month with a guide price of $1.73 million, says auctioneer SRI.

The loft spans 818 sq ft and is situated on the seventh floor of the condo. It is currently tenanted and will end in August next year. The condo’s locality in District 15 makes the unit attractive to potential buyers, says the managing partner at SRI Auction, Mok Sze Sze, who handles the unit sale. “The unit is convenient because of the nearby upcoming Katong Park MRT Station on the Thomson–East Coast Line, and it has easy accessibility to the East Coast Park via the underpass at Katong Park.” The unit has received enquiries from homeowners and investors, adds Mok.

The owner purchased the property in August 2017 for $1.41 million ($1,727 psf). They prefer not to disclose the current rental price. Based on caveats lodged in the past 12 months, one-bedroom units at Fulcrum have been rented out for $2,400 to $4,500 monthly.

The loft boasts a study area, balcony, and a master bedroom with an attached bathroom on its upper level. Its lower level includes a kitchen, dining area, living room, and a balcony with a floor-to-ceiling window.

Fulcrum was completed in 2016 and houses 128 units. It was developed by CEL Developments, a wholly-owned subsidiary of Chip Eng Seng Corporation. The buyer profile of units at Fulcrum consists of 89.4% Singaporean buyers, while the remaining 10.5% are permanent residents or foreigners, according to EdgeProp Singapore’s Landlens tool. Based on caveats lodged in the past 12 months, units at the Fulcrum typically sell for an average price of $2,119 psf.

The most recent transaction at the development was in April when a 474 sq ft one-bedroom apartment changed hands for $1 million ($2,111 psf). This was the third sale at Fulcrum this year. Before this, two apartments were sold in March, including an 818 sq ft one-bedder at $1.75 million ($2,139 psf), while a 829 sq ft, two-bedroom unit was sold for $1.7 million ($2,051 psf).

The condo is also a short drive from several shopping malls, such as Parkway Parade at Marine Parade Road, i12 Katong at East Coast Road and Kallang Wave Shopping Mall at Stadium Place.

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