Alpha's Draycott Eight units may go on the market soon

Singapore

A STACK of 22 units in one of the three blocks of Draycott Eight is expected to come on the market soon for bulk sale. Market watchers reckon the stack could fetch around S$143 million to S$150 million, which would translate to S$2,180-S$2,300 per square foot (psf) on a total strata area of 65,401 square feet.

The units are held by a fund managed by Alpha Investment Partners, which in 2010 paid a Morgan Stanley-managed fund S$2,300 psf or slightly over S$157 million for a stack of 23 units - comprising 22 four-bedroom apartments and a penthouse - in the block. In late 2012, the Alpha fund sold one of the four-bedders, an eighth-floor unit, for S$7.18 million or S$2,480 psf, leaving it with 21 apartments and a penthouse.