A freehold bungalow located at 11 Whitley Road is currently up for sale via tender with a guide price of $31.88 million. The two-storey property sits on an elevated freehold site of 15,276.27 sq ft, which translates to a guide price of $2,087 psf on the land area.
Originally built in 2016, the bungalow has undergone renovations with a rear extension added. It boasts five bedrooms, of which three are en suite, two living rooms, two dining rooms, a large well-equipped kitchen, and a helper’s room.
According to Aric Lim, associate district director of Huttons Asia – the exclusive marketing agent for the property at Whitley Road – the land parcel can potentially be subdivided for the redevelopment of eight terraced houses. Each site could range from 1,614 sq ft to 2,389 sq ft, with a gross floor area (GFA) of up to 21,528 sq ft, subject to land betterment charges.
Senior director of data analytics at Huttons Asia, Lee Sze Teck, notes that this is likely the largest plot of land available along Whitley Road. He also adds that the asking price of $2,087 psf based on land is highly competitive compared to recent transactions of new semi-detached houses in the area, which have been sold for over $3,000 psf.
Conveniently located, the property is approximately 700m from the Novena MRT Station and in close proximity to popular malls such as Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.
Investing in real estate is not a decision to be taken lightly, and one of the most crucial factors to consider is location. This is especially true in Singapore, where the right location can make all the difference. Condominiums that are situated in central areas or in close proximity to important amenities such as schools, shopping malls, and public transportation hubs have been known to appreciate in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown a steady increase in property values. This is due to their convenient location and accessibility to key areas in the city. Families also prefer these areas due to their proximity to good schools and educational institutions, making condos in these areas highly desirable and a smart investment choice. To discover more about potential investment opportunities, check out Singapore Projects.
Interested buyers can submit their tenders for 11 Whitley Road until February 12.