15-08-2012: NKF founder's bungalow up for sale

Aug 15, 2012 - PropertyGuru.com.sg

By Romesh Navaratnarajah:

A good class bungalow (GCB) at 27 Olive Road (pictured) has been launched for sale by an Expression of Interest (EOI), according to marketing agent Knight Frank.

The two-storey detached house which is more than 30-years old is sited on a 23,423 sq ft plot at the exclusive GCB enclave of Caldecott Hill Estate in District 11.

The property was put up for sale by the estate of the late Dr. Khoo Oon Teik, who founded the National Kidney Foundation (NKF) and is recognised as the “Father of nephrology in Singapore”.

Mary Sai, Executive Director for Investment (Commercial Sales) at Knight Frank, said: “The property is on elevated ground, which offers captivating views of the city landscape, Integrated Resort and MacRitchie Reservoir Park. The plot is ideal for redevelopment into a luxurious new bungalow.”

It is easily accessible via the Pan Island Expressway, Orchard Road and Caldecott MRT station.

The bungalow has an indicative price of between S$26 million and S$28 million or S$1,110 to S$1,200 psf.

Recent transactions in the area have changed hands for S$1,100 to S$1,200 psf. Meanwhile, another bungalow along Olive Road was sold for about S$30 million or S$1,185 psf.

The EOI for the property will end on 18 September.