One of the penthouses at the ultra-luxury Skywaters Residences has just been sold, based on a caveat lodged with URA Realis on May 20. The 7,761 sq ft, 99-year leasehold unit on the 57th floor fetched $47.34 million or $6,100 psf.
Based on a caveat lodged with URA Realis, the buyer is a foreigner, although the nationality isn’t specified. Sources reckon the buyer could be a US citizen, who will have the same tax treatment as a Singaporean first-time homebuyer. Hence, a US citizen will not be subjected to a 60% additional buyer’s stamp duty (ABSD), which would have amounted to $28.4 million.
The 190-unit Skywaters Residences is located at 1 Prince Edward Road. It is part of the redevelopment of the former AXA Tower at 8 Shenton Way in the Tanjong Pagar area of District 2. The residences sit at the topmost floors of a new 63-storey mixed-use development, The Skywaters, that includes offices, retail and a hotel. At 305m tall, The Skywaters will be the tallest skyscraper in Singapore, superseding Guoco Tower, the reigning tallest tower in Singapore.
The architect for The Skywaters is a partnership between Singapore-based DCA Architects and Skidmore, Owings and Merrill (SOM), famous for the design of skyscrapers such as Burj Khalifa in Dubai, One World Trade Centre in New York and Guoco Tower. The Skywaters is scheduled for completion in
2028.
The 7,761 sq ft penthouse is one of eight palatial units at Skywaters Residences. The penthouses start from the 57th floor, and the two biggest units are 18,000 sq ft sky villas at the topmost floors.
The Skywaters is a mixed-use development by a consortium led by Perennial Holdings, which includes Alibaba (for the office component) and SingHaiyi Group.
The units at Skywaters Residences have been marketed by the developer via VIP previews and by invitation only.
The penthouse is one of only a handful of transactions in Singapore that have crossed the $6,000 psf threshold. The record high of $6,650 psf is still held by The Marq on Paterson Hill, when a 3,089 sq ft unit was sold by developer SC Global Developments in November 2011. The Marq on Paterson Hill is a freehold, 66-unit development completed in 2011 and located in prime District 9.
Source: Edgeprop
