A bungalow situated at 11 Whitley Road has been put on the market for sale through a tender process, with a guide price of $31.88 million. The property, which is located on an elevated freehold site of 15,276.27 sq ft, is expected to sell at a rate of $2,087 per square foot on the land area.
Originally built in 2016, the two-storey bungalow features five bedrooms, with three of them being en suite. The house also boasts two living rooms, two dining rooms, a spacious and well-equipped kitchen, as well as a helper’s room. In addition, a rear extension was added during the rebuild process.
The large land parcel allows for potential redevelopment, with the possibility of dividing it into eight terraced houses. Each site would range from 1,614 sq ft to 2,389 sq ft, with a potential gross floor area (GFA) of up to 21,528 sq ft. This, however, is subject to the payment of land betterment charges. Aric Lim, associate district director of Huttons Asia, the exclusive marketing agent for the property, confirms this potential for redevelopment.
According to Lee Sze Teck, senior director of data analytics at Huttons Asia, this is likely the largest plot of land available on Whitley Road. He also notes that the asking price of $2,087 psf for the land is highly competitive compared to recent transactions of new semi-detached houses on the same road, which have been sold for over $3,000 psf.
The location of the bungalow is highly desirable, being only 700m away from the Novena MRT Station and within close proximity to popular shopping destinations such as Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.
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Interested buyers can submit their tenders for 11 Whitley Road until Feb 12.