A bungalow located at 60 Kheam Hock Road in District 11 is available to auction through an expression of Interest (EOI) process. The detached two-storey property is listed for sale at “in the range in the region of $16.38 million” according to market agency Quinvest Chambers International. Quinvest Chambers International adds that an independent appraisal obtained for the property earlier this year puts the value of the property at $16.5 million.
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The property is situated on the freehold site that covers 7,393 square feet. According to the Master Plan 2019, the site is designated to “residential 2 storey mixed landed” use. The site is rectangular in form and features an 18m frontage along Kheam Hock Road. The asking price is an estimated land value of $2,215 per square foot.
The bungalow is two stories high and has the basement level, and an estimated built-up space of 4,200 square feet. The basement floor is home to the dining, kitchen and living spaces as well as a patio and a granny’s bathroom. There are four bedrooms with ensuites on both one and the other floors. Car porch which is located on the top floor can also accommodate two cars.
The property was let out for rent over the past 10 years, is offered for sale with no vacant ownership. In addition to keeping it in use as an apartment, the successful buyer might contemplate subdividing the land for two semi-detached houses subject to the approval of the appropriate authorities, says Quinvest Chambers International.
Nearby facilities comprise nearby amenities include Singapore Botanic Gardens, malls like Cluny Court, Serene Centre and Coronation Shopping Plaza, and the Botanic Gardens MRT Station (Circle and Downtown Lines).
Ian Loh, managing director of Quinvest Chambers International, highlights that the property is just a couple of doors of Kew Lodge, which is a freehold property which was recently bought en block from Aurum Land for $66.8 million.
The sale has further boosted the prices of land and attractiveness of the area” says Loh. “With the asking price which is less than the value the 60 Kheam Hock Road presents a unique opportunity and a huge worth to those looking to be able to buy land in this prestigious district.”
The EOI for 60 Kheam Hock Road will close on the 21st of June.