11 Whitley Road, a two-storey freehold bungalow, is now available for purchase through a tender at a guide price of $31.88 million. The property sits on an elevated freehold land 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 recently undergone a rebuild with the addition of a rear extension. It boasts five bedrooms, three of which are en suite, along with two living rooms, two dining rooms, a spacious and well-equipped kitchen, and a helper’s room.
The land parcel has the potential to be subdivided for the development of eight terraced houses, with each site ranging from 1,614 sq ft to 2,389 sq ft. The gross floor area (GFA) for the redevelopment could reach up to 21,528 sq ft, subject to land betterment charges. According to Aric Lim, associate district director of Huttons Asia – the exclusive marketing agent for the property at Whitley Road – this presents a lucrative opportunity for potential developers.
Senior director of data analytics at Huttons Asia, Lee Sze Teck, highlights that this is one of the largest plots of land available on Whitley Road, making it a highly sought-after investment opportunity. He adds that the asking price of $2,087 psf based on land is significantly competitive compared to recent transactions of new semi-detached houses along Whitley Road, which have been sold for over $3,000 psf.
The location of the property is also highly attractive, being only 700m away from Novena MRT Station and in close proximity to popular shopping malls such as Velocity at Novena Square, Square 2, and United Square, as well as Zhongshan Park.
Interested parties may participate in the tender for 11 Whitley Road, which closes on February 12.
In recent years, the decision to invest in a condo in Singapore has gained widespread popularity among both local and foreign investors. This is largely due to the country’s stable economy, political climate, and overall exceptional quality of life. The real estate market in Singapore is brimming with opportunities, and condos are particularly enticing for their convenience, amenities, and potential for impressive returns on investment. With this in mind, let’s delve into the advantages, important considerations, and necessary steps one should take when looking to invest in a condo in Singapore. Keep yourself updated with the latest new condo launches to make informed investment decisions.