A one-bedroom apartment at Jervois Mansion is listed to appear at Knight Frank’s upcoming auction on April 24 with a guide price of $1.288 million. The unit spans 495 sq ft on the development’s second floor, reflecting a price of $2,602 psf.
An owner’s sale, this is the second time the unit at Jervois Mansion has appeared for auction. The same apartment was previously listed at Knight Frank’s last auction on March 27 with a slightly higher guide price of $1.298 million ($2,622 psf). However, the property was withdrawn as it did not receive any bids.
Developed by Kimen Group, the 130-unit freehold condo is being built on the former site of three Good Class Bungalows. Currently under construction, the development is expected to receive its Temporary Occupation Permit (TOP) in 2026.
Sharon Lee, head of auction and sales at Knight Frank Singapore, says the unit for sale is competitively priced. “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,” she adds.
Based on 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 since been fully sold at an average price of $2,567 psf. The last unit sold by developers was an 807 sq ft, two-bedroom unit fetching around $1.8 million ($2,250 psf) in November 2023.
If the unit is sold for its listed price, it would result in the sellers making a profit of $94,000, or around 7.87% over four years.
Within the Core Central Region, newly TOP freehold developments like 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 houses a mix of one- and two-bedroom configurations ranging from 495 sq ft to 861 sq ft, which make up 70 units in the development (54%). The remaining 60 units comprise three- to five-bedroom apartments spanning 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 and barbecue pavilion. A communal, commercial-grade washer-dryer is also available on the roof terrace of one of the blocks.
Upon completion, the freehold development is expected to feature a side gate offering 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.
Nearby MRT stations include Redhill and Tiong Bahru on the East-West Line. Several primary schools are also located in the area, including Alexandra Primary School, Radin Mas Primary School and Queenstown Primary School.
