A freehold, two-storey bungalow in the prime District 11 of Singapore presents a rare opportunity for home-seekers wishing to enter the landed property market. The 7,393 sq ft site at 60 Kheam Hock Road is up for sale through an expression of interest (EOI) exercise, with an asking price in the region of $16.38 million. The appointed marketing agent, Quinvest Chambers International, notes that an independent valuation obtained earlier this year estimates the property’s value at $16.5 million.
The land plot is zoned for “residential, 2-storey mixed landed” use under the Master Plan 2019, boasting an 18m frontage along Kheam Hock Road. The asking price translates to a land rate of approximately $2,215 psf.
The two-storey bungalow occupies a freehold site with a basement level, estimated to have a built-up area of about 4,200 sq ft. The basement level houses the kitchen, dining, and living areas, a courtyard and an ensuite granny’s room. There are also four ensuite bedrooms on the first and second floors. The car porch on the first storey can accommodate two cars.
The property, previously rented out over the last decade, will be sold with vacant possession. The successful buyer may consider subdivision of the plot into two semi-detached homes, subject to relevant authority approvals, notes Quinvest Chambers International.
Nearby amenities include the Singapore Botanic Gardens, shopping malls such as Cluny Court, Serene Centre, Coronation Shopping Plaza, and the Botanic Gardens MRT Station (Circle and Downtown Lines). The Myst is located nearby at 800, 802 Upper Bukit Timah Road.
Ian Loh, managing director of Quinvest Chambers International, highlights that the property is a few doors from Kew Lodge. Aurum Land recently purchased This freehold apartment en bloc for $66.8 million. This transaction has further strengthened the land prices and the area’s appeal.
With an asking price that is below the valuation, the EOI for 60 Kheam Hock Road presents a rare opportunity and tremendous value for home-seekers who wish to enter the landed market in this prime district. The EOI will be closed on June 21.