Two penthouses sold at One Pearl Bank for $6.8 mil and $7.5 mil

Two penthouses at CapitaLand’s One Pearl Bank have been sold just days apart in the first week of July. The larger penthouse of 2,777 sq ft was sold to a Singapore citizen at $7.5 million ($2,701 psf) and the other 2,626 sq ft unit, with four bedrooms, went for $6.8 million ($2,589 psf).

At CapitaLand’s One Pearl Bank, two of its four penthouses were sold in quick succession at the start of July. A 2,626 sq ft four-bedroom unit was snapped up for $6.8 million ($2,589psf), with the nationality of the buyer remaining a mystery.

It was followed by the sale of the larger penthouse – a 2,777 sq ft apartment – to a Singapore citizen for $7.5 million ($2,701 psf). These two plush units occupy the 38th floor of the 774-unit self-contained complex.

From its location in city fringe District 3, high-floor units at One Pearl Bank provide uninterrupted views of Chinatown, the CBD, Outram and Tiong Bahru. These two premium penthouses, with four bedrooms and five bathrooms each, are part of a selection of studios, one to four-bedroom apartments ranging from 431 to 1,432 sq ft.

The 99-year leasehold property was designed by a joint venture between London-based Serie Architects and Singapore-based Multiply Architects. It is scheduled for completion by the end of 2023, and currently enjoys a 96% sale rate.

The One Pearl Bank stands near the Outram MRT interchange station, just a three-minute walk away. This provides the luxury of connecting to three lines – East-West, Northeast and Thomson-East Coast Lines – as well as the Outram Park MRT station for Direct Underground Access.

Most of the units bought in July were high-floor units, with three 700 sq ft two-bedders on the 33rd to 36th floors snapped up at prices between $2.038 million ($2,913 psf) and $2.048 million ($2,927 psf).

Also in demand were three-bedders of 1,152 to 1,281 sq ft on the 30th to 35th floors, which were bought for prices starting from $3.12 million ($2,709 psf) to a high of $3.388 million ($2,645 psf). Another desirable unit was a 1,399 sq ft four-bedder on the 20th floor, which was sold for $3.68 million ($2,630 psf).

One Pearl Bank is set for completion by 2023, offering a nod to the original Pearl Bank Apartments, which were one of Singapore’s first high-rise, high-density living apartment towers when they were completed in 1976. It also features an elliptical shape, akin to that of the horseshoe design of the original Pearl Bank Apartments.

Investing in the Tampines Ave 11 Condo UOL Group development opens doors to quality living in a sought-after part of Singapore, one that is transforming to provide the best value and wellbeing for its residents and businesses.

With two of the four penthouses at One Pearl Bank sold, two more will be available when complete, with sizes of 2,691 sq ft and 2,778 sq ft. With its prime city fring location and easy travelling options, the building has been a popular choice for buyers.