Seller puts up 16 units at The Waterside for sale

SINGAPORE (EDGEPROP) - A seller has offered to sell 16 units at The Waterside, a freehold development along Tanjong Rhu Road off Fort Road in District 15. The properties - a mix of three- and four-bedroom units of 2,142 to 2,411 sq ft - will be offered for sale by private treaty. The units, which can be bought individually, are priced between $3.4 million for a 2,142 sq ft low-floor unit and $4.33 million for a 2,411 sq ft high-floor unit.

Completed in 1993, The Waterside comprises three- and four-bedroom units of 2,142 to 2,433 sq ft. It sits on a relatively large land size of 516,667 sq ft and features six 23-storey residential blocks. "The units that we have available for sale come with a great layout and feature spacious usable areas. In addition, the development is situated on a generous land area. The six blocks take up just 16% of the land area, resulting in unparalleled open spaces and greenery," says PropNex's head of corporate sales and auction Clarence Goh. All of the 16 units for sale are located in one block and spread between high and low floors.

Goh says it is uncommon to see such large sized units on the resale market these days. It is also rare to see multiples of these units put up for sale. 

According to Goh, the Tanjong Rhu area continues to be a highly desirable location for home owners and investors because of its strategic location, just a five-minute drive to Marina Bay, Raffles Place and Suntec City.

All of the units for sale are currently tenanted with varying lease terms. "For the size and price quantum, prospective buyers will likely be homeowners rather than investors," adds Goh.

Looking ahead, Goh hopes that auction events can be conducted at the next phase of the reopening of the economy. He adds: "Based on our statistics, I believe the auction market is still strong and this mode of property sale will still be a popular choice for some sellers and buyers."

The Waterside is located beside the Singapore Swimming Club and is close to East Coast Park, the Singapore Sports Hub and the Kallang area. The Tanjong Rhu Suspension Bridge, which brings residents directly to the Kallang Wave Mall and Kallang Leisure Park, is a 10-minute drive away. Finally, the condominium is also near the upcoming Katong Park MRT Station on the Thomson-East Coast Line, scheduled to open in 2023.