Casero @ Dunman is a freehold boutique development on Dunman Road.
SINGAPORE (EDGEPROP) - A two-storey penthouse at Casero @ Dunman was put up for sale at the property auction by ERA Realty Network on Sept 22.
The three-bedroom penthouse has a guide price of $2.3 million. The unit has a total floor area of 2,518 sq ft and the guide price translates to $913 psf on the floor area.
No bids were received at the auction, hence the property is still available for sale.
The lower floor of the apartment features a wet kitchen, dining room, living room with a connected balcony and two bedrooms. The upper floor features an ensuite bedroom and a connecting roof terrace.
The duplex penthouse at Casero @ Dunman has three bedrooms. (Picture: ERA)
Casero @ Dunman is a freehold development at 489 Dunman Road in District 15. It was completed in 2008 and consists of a five-storey residential block with 15 units. There are one- and two-bedroom units that range from 646 sq ft to 1,572 sq ft, as well as four three-bedroom penthouse units that range between 2,518 sq ft and 2,539 sq ft.
Based on URA resale caveats, one of the penthouse units was sold for $1.45 million ($571 psf) in December 2015, after the unit had been purchased from the developer for $1.39 million ($548 psf) in September 2007. Another 2,518 sq ft penthouse unit was bought from the developer for $1.4 million ($556 psf) in July 2011.
The property listing states that the penthouse unit for sale is leased until July 2022. URA rental caveats show that one of the penthouse units was leased for $4,000 ($1.60 psf) per month in July last year. Other rental transactions this year include a two-bedroom unit leased for $2,400 ($2.80 psf) per month and a one-bedroom unit that was leased for $2,000 ($3.10 psf) per month.
Alison Lee, assistant vice-president of auctions and sales at ERA Realty Network, says the owner put up the unit for sale earlier this year but found it difficult to find a buyer due to the restrictions under Phase Two (Heightened Alert).
It is still difficult to schedule on-site viewings for interested buyers given the five-person visitor limit as well as the work-from-home arrangement of the existing tenant, says Lee.
The unit is leased until July 2022. (Picture: ERA)
Still, the duplex has attracted many interested buyers over the past few weeks. “We have received more than 20 requests to schedule viewings of this unit,” she adds.
The unit would be suitable to owner-occupiers, especially families with school-going children, given the development’s proximity to popular schools in the area.
The condominium is close to Dakota MRT Station on the Circle Line and Paya Lebar MRT Interchange Station on the Circle and East-West Lines. It is also accessible to major roads and expressways like East Coast Parkway and Mountbatten Road.
Popular schools in the East Coast area include Chung Cheng High School (Main), Broadrick Secondary School, Tanjong Katong Girl’s School and Tanjong Katong Secondary School.
The view from the living room balcony of the penthouse. (Picture: ERA)
“This property is in a prime District 15 location that is close to the central business district, and commercial hubs like Paya Lebar Central. It is also close to amenities in the Katong and Kallang areas,” says Lee. (Find Singapore commercial properties with our commercial directory)
She notes that the unit could also appeal to investors as it already has an existing tenancy.
“It is a relatively small development which enhances the overall privacy for residents, and this could be an important factor for some buyers. Others may find that living in a smaller development with fewer neighbours surrounding is an attractive option,” says Lee.
Check out the latest listings near Casero @ Dunman, Dakota MRT Station, Paya Lebar MRT Interchange Station, Chung Cheng High School (Main), Broadrick Secondary School, Tanjong Katong Girl’s School and Tanjong Katong Secondary School
[Sept 27, 2021; 15:23 Writer's note: The description of the penthouse for sale has been edited to correct the distribution of rooms in the unit.]