Suites at Orchard is a 99-year leasehold advancement along Handy Road in prime District 9. The 118-unit development was completed in 2014. Situated in the Dhoby Ghaut area, the condominium is likewise near the arts and also heritage districts along Bras Basah, Bencoolen Street and Middle Road. The National Museum, the Singapore Management University school and also the School of the Arts are additionally nearby.
Suites at Orchard is the residence closest to the Plaza Singapura buying mall, and located close to it is the Haus on Handy, which is anticipated to be completed next year. There is The Cathay Residences, which is part of the mixed-use growth The Cathay, a spots located at the end of Orchard Road.
There are 16 penthouse devices at Suites at Orchard that vary from 840 sq ft one-bedders to 1,485 sq ft, two-bedroom units. So far, the most pricey penthouse offered was a 1,485 sq ft, two-bedroom device that Plantation Close EC transformed hands for $2.7 million ($1,818 psf) in April 2016.
A two-bedroom penthouse system at Suites at Orchard is on the market for $2.27 million. The overview cost for the 1,367 sq feet device converts to around $1,660 psf based on the flooring location. Based on URA cautions, deals involving penthouse devices at Suites at Orchard are unusual. No systems of any size were sold between October 2018 as well as December 2020 and also just four devices have been sold in the previous 18 months. Much this year, at least 36 devices have actually been rented out, compared to at the very least 60 systems that were rented in 2021.
Cairnhill Nine Project Details
Suites at Orchard take advantage of its proximity to the Orchard Road buying belt and the arts and also heritage area at Bras Basah and Bencoolen Street.
A two-bedroom penthouse unit at Suites at Orchard gets on the market for $2.27 million. The guide cost for the 1,367 sq ft system translates to about $1,660 psf based on the floor area. A proprietor’s sale, the unit will be set up for public auction by ERA Realty on July 26.
The Dhoby Ghaut area Hillhaven Condo is served by Dhoby Ghaut MRT Station, which is an interchange serving the North-South, North-East as well as Circle Lines. Bencoolen MRT Station on the Downtown Line and Bras Basah MRT Station on the Circle Line are likewise close by.
Based upon URA cautions, purchases entailing penthouse devices at Suites at Orchard are unusual. No systems of any kind of size were sold between October 2018 and December 2020 and only four devices have been marketed in the past 18 months. One of the most recent purchase was for a 732 sq ft unit that was sold for $1.4 million ($1,913 psf) on May 27.
Nonetheless, the condominium has actually had a stable rental track record. Far this year, at least 36 devices have been leased out, contrasted to at least 60 devices that were leased in 2021. A compilation of rental data over the past 12 months by EdgeProp Singapore shows that the average rental fee has to do with $5.60 psf per month. EdgeProp Singapore also approximates that proprietors who rent out their systems take pleasure in an approximate rental return of 3.5%.
The device features a regular layout with an en suite bedroom, an usual restroom and a 2nd bed room. A small solution lawn is linked to the open-concept kitchen, which leads into the living as well as dining room. A stairs in the living room brings about the top flooring and a veranda next to the living-room encountering Handy Road, while the top floor contains an unsheltered roof balcony. According to the building listing, the system is tenanted up until December 2023 and will be sold with the existing occupancy.
