DEAL WATCH: Tivoli Grande penthouse for sale at $1.48 mil

angela.teo@bizedge.com

On the market is a 1,539 sq ft, three-bedroom penthouse at Tivoli Grande, which is priced at $1.48 million ($962 psf). The corner unit is said to be owned by a couple — a Singaporean husband and a Japanese wife — looking to cash out and retire in Japan.

The unit for sale spans two floors and comes with a pool view. The lower level houses the living and dining areas, kitchen, junior master bedroom, a second bedroom, a common bathroom and a balcony. The upper level houses the master bedroom and a roof garden.

Jeremy See, senior associate marketing director at PropNex Realty and marketing agent of the Tivoli Grande penthouse, reckons that the unit is going at a good price. “The price is $170,000 below that of two other penthouses of identical size and similar layout that recently changed hands,” he says. The two penthouses at Tivoli Grande fetched $1.65 million ($1,072 psf) each, according to caveats lodged with URA on Aug 27.

 

The unit is currently leased out to a Singaporean family at $3,400 a month, says PropNex’s See

The unit is currently leased out to a Singaporean family at $3,400 a month, says PropNex’s See

(Credit: Samuel Isaac Chua / The Edge Singapore)

 

At present, the penthouse is rented out to a Singaporean Chinese family at $3,400 a month, says See. “The existing tenants sold their landed property before renting this unit at Tivoli Grande, and will continue to lease the unit till they find another landed property that meets their expectations.”

According to See, the southeast-facing unit was rented out to British tenants from 2014 to 2016, and before that, to a Japanese couple from 2013 to 2014. “Many have chosen this apartment over other penthouses in the area mainly because of its great ceiling height,” he explains.

Past tenants have also commented that it is “convenient to get around” from Tivoli Grande, he says. The development is two bus stops and a short walk from the Eunos MRT station, according to See. It is also a short drive to the Pan Island Expressway and East Coast Parkway, he adds.

Located in the Marine Parade area, at the intersection of Koon Seng Road and Still Road, the 82-unit Tivoli Grande is a freehold condominium comprising two five-storey blocks developed by Sustained Land and completed in 2012.

Launched in 2Q2010, the project was fully sold by June 2012, according to URA data. Units at Tivoli Grande include one-bedroom-plus-study apartments of 560 sq ft, as well as two-bedroom, two-bedroom-plus-study and two-bedroom-with-PES (private enclosed space) apartments measuring between 700 and 958 sq ft. There are also two-bedroom, two-bedroom-plus- study and three-bedroom-plus-study penthouses of between 1,141 and 1,539 sq ft.

 

Jeremy See, senior associate marketing director at PropNex Realty and marketing agent of the Tivoli Grande penthouse
Recent transactions at Tivoli Grande

  

This article appeared in EdgeProp Pullout, Issue 805 (Nov 13, 2017).

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