Up for auction: 6 luxury apartments in Ardmore Park, Leonie Hill linked to money laundering case

SINGAPORE – Another six freehold luxury apartments in the prestigious enclaves of Ardmore Park and Leonie Hill Road linked to the $3 billion money laundering case are going under the hammer in October.

Five of them at Nouvel 18 near Orchard Road, and a four-bedroom apartment at New Futura in Leonie Hill Road are being put on the auction block on Oct 28 at 2.30pm at the corporate office of SRI, one of three brokerages appointed to conduct the property auctions.

Including these, 32 properties linked to the case have been put up for sale since September.

There are more than 80 properties to be auctioned as part of professional services firm Deloitte’s strategy to oversee and liquidate assets seized in the nation’s largest money laundering case.

Of the 26 properties put on the auction block on Sept 17 and 23, only four luxury apartments in Wallich Residence and Martin Modern, totalling $16.28 million in value, were sold.

Mok Sze Sze, managing partner of SRI Auction, told The Straits Times that the remaining six unsold units at Wallich Residence and Martin Modern are “still attracting a healthy level of interest”. The brokerage is awaiting instructions from the authorities on whether they will be put up for auction again.

In addition to the 32 properties on auction, three bungalows with private yacht berths and a seaview leasehold plot in Sentosa Cove were recently put up for expression of interest (EOI) sale by luxury residential brokerage List Sotheby’s International Realty (ListSIR).

In an EOI sale, potential buyers submit non-binding offers indicating their interest in buying a property by a set closing date.

Nouvel 18 and New Futura

The five apartments in Nouvel 18 up for auction each range in size from 1,335 sq ft to 6,125 sq ft. They include two-bedder plus study, three-bedder, three bedder plus study and four-bedroom units. Prices start from $2,939 psf to $3,558 psf.

Comprising two 36-storey residential blocks with a total of 156 units, Nouvel 18 includes eight sky gardens, which offer tranquil green sanctuaries within the high-rise development.

Located near Orchard MRT station, Nouvel 18 is also surrounded by educational institutions and embassies.

“Nouvel 18 offers an exceptional combination of exclusivity, greenery and convenience in the sought-after Ardmore Park enclave. With five units being offered at auction, buyers have multiple opportunities to secure a freehold residence within a development that offers privacy, comprehensive facilities and close proximity to Orchard Road,” Mok said.

At New Futura, the 2,691 sq ft four-bedroom apartment will be offered at a guide price of $9.8 million, or $3,642 psf.

The 124-unit development features six themed sky terraces, each offering a different range of facilities for residents. It is located near Somerset MRT station and amenities in the River Valley and Orchard areas.

“New Futura combines space, privacy and connectivity in a highly sought-after District 9 location. Its limited number of residential units and spacious four-bedroom configuration make it an attractive proposition for buyers seeking a private home close to Orchard Road, while its freehold tenure adds further appeal,” Mok said.