Prime bungalows up for sale

 

Jan 31, 2013 - PropertyGuru.com.sg

By Romesh Navaratnarajah:

Three freehold bungalows at Meyer Road, Holland Rise GCB Area and Dunearn Road have been put up for sale, said marketing agent Knight Frank.

The Meyer Road property sits on approximately 25,525 sq ft of land and is expected to be sold “in the region of S$33 million to S$37 million”, or S$1,293 to S$1,450 psf.

“We expect strong interest in this property, given its strategic location along the prime Meyer Road belt as well as its redevelopment potential,” said Mary Sai, Executive Director for Investment at Knight Frank.

“Meyer Road is traditionally a popular residential area among both home buyers and investors. This is a rare offering as the property appeals to a mix of home buyers, investors and developers. A home buyer can redevelop this site into an exclusive dream home for his family, or build two bungalows to house his extended family. The developer can redevelop the site into either bungalows or strata bungalows either for sale or lease.”

Over at Holland Rise, a two-storey good class bungalow (GCB) along East Sussex Lane is up for sale by Expression of Interest (EOI). With a land area of about 15,090 sq ft, the house comes with a basement, swimming pool, attic/roof garden, lush landscape garden and has ample car parking.

Additionally, it has four levels of living space with five fully-furnished en-suite bedrooms, basement family room, guest room, large living room, attic gym, infinity lap pool and roof-top open terrace.

“The target selling price for the GCB is between S$28 million and S$29 million, which translates to approximately S$1,856 psf to S$1,922 psf,” said Sai.

The EOI for the bungalow will close on 6 March.

The last property (pictured) along Linden Drive, off Dunearn Road in District 11 has also been launched by EOI. 

With a land area of around 9,860 sq ft, the site currently houses a two-storey bungalow. It is zoned “Residential - two-storey semi-detached” under the 2008 Master Plan.

“The site is expected to be well-received by the market in view of its potential of being redeveloped into either semi-detached houses or strata semi-detached houses under URA’s guidelines,” noted Sai, adding that recent bungalow sales in the area have hit between S$17 million and S$19 million, or about S$1,700 to S$1,900 psf.

The EOI will close on 26 February.

Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email [e-mail]