A two-bedroom-plus-study unit at Bartley Residences has been listed for a mortgagee sale, with a guide price of $1.9 million, approximately $1,713 per square foot. The unit spans 1,109 square feet and features an ensuite master bedroom, a second bedroom, and a flexible study area that can be easily converted into a third bedroom or helper’s room. This layout is particularly appealing to families or individuals seeking extra space for work or guests.
Located within a 99-year leasehold development, the property offers an expansive balcony that provides unblocked views of the surrounding landed estate, enhancing the living experience with a sense of openness and natural light. Such amenities can attract potential buyers who value outdoor space and scenic views, making this unit an interesting option in today’s competitive real estate market.
This particular unit is making its second appearance at auction, organized by Knight Frank. Its first attempt to sell was unsuccessful, with no bids submitted at that time. The previous auction was withdrawn from the June event, attributed to low interest during the school holidays when potential buyers may have been preoccupied with family commitments.
The current auction may face similar challenges, as it is essential for prospective buyers to be engaged and interested in the property to ensure a competitive bidding environment. Despite the struggles experienced by this unit, the broader market at Bartley Residences remains active and healthy.
In 2023, there have been 19 transactions recorded at the development, with these units selling at an average price of $1,817 per square foot. This reflects a dynamic market where other units have successfully attracted buyers, signifying that while this particular listing might be struggling, it does not necessarily indicate a weak overall market.
Buyers considering this unit may weigh the benefits of its features against the backdrop of the current market dynamics. The flexible nature of the study space, the ensuite master bedroom, and the appealing balcony views could align well with the needs of many prospective owners.
However, the previous auction’s lack of interest raises questions about the unit’s appeal compared to others currently available in the market. As the auction date approaches, potential buyers will need to evaluate their interest in this property carefully.
With its guide price set at $1.9 million, the unit presents an opportunity, albeit one accompanied by the challenges of attracting bids in a competitive environment. Overall, the auction of this two-bedroom-plus-study unit at Bartley Residences provides an interesting case study on the dynamics of real estate sales, showcasing the complexities that buyers and sellers navigate in today’s market.
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News Source: Edgeprop
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