One Bedroom Unit Jervois Mansion Listed Auction 129 Mil
The upcoming Knight Frank auction on April 24 will feature a one-bedroom apartment at Jervois Mansion, with a guide price of $1.288 million. The unit, located on the second floor, spans 495 sq ft and is listed at $2,602 psf.
This is the second time the unit has appeared for auction, as it was previously listed at Knight Frank’s last auction on March 27 for a slightly higher price of $1.298 million ($2,622 psf). However, it was withdrawn as there were no bids.
Jervois Mansion, developed by Kimen Group, is a freehold condo with 130 units built on the former site of three Good Class Bungalows. The development is currently under construction and is expected to receive its Temporary Occupation Permit (TOP) in 2026.
Sharon Lee, head of auction and sales at Knight Frank Singapore, says that the unit for sale is competitively priced. She adds, “The unit is priced close to its launch price, which is rare for one-bedroom units in the area that are receiving their TOP soon.”
According to URA caveats, the unit was purchased from the developers for $1.194 million ($2,411 psf) when the project was launched in October 2021. The condo has been fully sold at an average price of $2,567 psf since then. The last unit sold by developers was a 807 sq ft, two-bedroom unit that fetched around $1.8 million ($2,250 psf) in November 2023.
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If the unit is sold for its listed price, the sellers would make a profit of $94,000, or around 7.87%, over four years.
In comparison, newly TOP freehold developments within the Core Central Region, such as Klimt Cairnhill and Perfect Ten, achieved 12-month average prices of $3,375 psf and $3,388 psf respectively. By contrast, Jervois Mansion recorded a lower 12-month average of $2,250 psf.
Located along Jervois Close in prime District 10, Jervois Mansion consists of six five-storey residential blocks. The development offers a mix of one- and two-bedroom configurations ranging from 495 sq ft to 861 sq ft, making up 70 units in the development (54%). The remaining 60 units comprise of three- to five-bedroom apartments spanning from 1,001 sq ft to 1,808 sq ft.
The condo offers a range of amenities, including a swimming pool, wading pool, gymnasium, children’s playground, barbecue pavilion, and a communal, commercial-grade washer-dryer on the roof terrace of one of the blocks. Upon completion, the freehold development is expected to feature a side gate providing direct access to the Alexandra Park Connector, which links to Robertson Quay. The lifestyle hub Valley Point is just a four-minute walk away, while Great World City can be reached within a five-minute drive.
The nearby MRT stations include Redhill and Tiong Bahru on the East-West Line. Several primary schools, including Alexandra Primary School, Radin Mas Primary School, and Queenstown Primary School, are also located in the area. Interested buyers can find out more about Jervois Mansion and other properties at the upcoming auction on April 24, as well as explore other new launch projects and compare prices of condo and Executive Condominium new sale.