One-bedroom loft at Fulcrum for sale at $1.6 mil

June 6, 2024

A one-bedroom-plus-study loft at Fulcrum, a freehold condo located along Fort Road in District 15, will be put up for auction by Knight Frank on June 20. The 818 sq ft unit has a guide price of $1.6 million, which translates to $1,956 psf. A mortgagee sale, the unit will be sold with vacant possession.

The lower level of the unit features a kitchen, dining area, and living room, which connects to a balcony with a floor-to-ceiling window. The upper level houses the master bedroom, an en suite bathroom, and a study. Located on the seventh floor, the apartment offers unobstructed views of Fort Road.

This is the third time the property will be going under the hammer. The unit first appeared as an owner’s sale at SRI’s auction in September 2023 with a guide price of $1.73 million ($2,115 psf). As there were no bidders, the property was withdrawn.

It was then put up for auction by SRI as an owner’s sale in October 2023 with a revised guide price of $1.69 million ($2,066 psf) but again did not find a buyer.

Completed in 2016, Fulcrum is a 128-unit freehold condo. The units are a mix of mostly one- and two-bedroom units spanning 441 sq ft to 1,173 sq ft. There are also three-bedroom units of 1,346 sq ft to 2,153 sq ft and three penthouse duplexes measuring 4,316 sq ft to 4,865 sq ft.

According to URA caveats, the previous owner purchased the unit in September 2017 for approximately $1.4 million, or $1,716 psf. The guide price for the latest auction of $1,956 psf is slightly lower than the psf prices of recent transactions at Fulcrum.

The most recent transaction at Fulcrum was on Jan 8, when a 678 sq ft, two-bedroom unit on the fifth floor was sold for $1.51 million, or $2,227 psf. It is the only unit that has changed hands at Fulcrum this year.

In 2023, three resale transactions were recorded at Fulcrum. Prices ranged between $1.7 million ($2,051 psf) for an 829 sq ft, two-bedroom apartment on the seventh floor to $1.75 million ($2,139 psf) for an 818 sq ft, one-bedroom-plus-study loft on the ninth floor.

The condo is within walking distance of the upcoming Katong Park MRT Station on the Thomson-East Coast Line, scheduled to open on June 23. It is also a short drive from several shopping malls, including Parkway Parade on Marine Parade Road, i12 Katong on East Coast Road, and Kallang Wave Mall on Stadium Place.

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