A bungalow with two storeys, located at 11 Whitley Road, is now available for sale by tender at a guide price of $31.88 million. The property boasts a freehold elevated site spanning 15,276.27 sq ft, which translates to a rate of $2,087 per sq ft on the land area.
Originally rebuilt in 2016, the bungalow has since had a rear extension added to it. Comprising of five bedrooms, three of which have en suite facilities, the house also features two living rooms, two dining areas, a large well-equipped kitchen, and a helper’s room.
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According to Aric Lim, associate district director of Huttons Asia, the property’s land parcel has the potential to be subdivided into eight terraced houses, with each site ranging from 1,614 sq ft to 2,389 sq ft. With the possibility of land betterment charges, the gross floor area (GFA) for the redevelopment could reach up to 21,528 sq ft.
Senior director of data analytics at Huttons Asia, Lee Sze Teck, mentions that this is likely the largest plot of land available along Whitley Road. He further notes that the asking price of $2,087 psf based on land is highly competitive when compared to recent transactions of new semi-detached houses in the area, which have been sold for over $3,000 psf.
The location of the property is highly sought-after, being only 700m away from the Novena MRT Station and near popular shopping malls such as Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.
Interested buyers can put in their offers for the property at 11 Whitley Road by February 12, when the tender will close.