999 Year Leasehold Detached House Serangoon Gardens Auction 122 Mil
A collaborative statement issued by Hoi Hup Realty and Sunway Developments on September 12 revealed that the prime 99-year leasehold land, measuring 16,441.2 square meters, has been earmarked for development. The site has a maximum Gross Floor Area of 46,036 square meters and will be home to the highly anticipated Novo Place EC.
A beautiful 999-year leasehold property located along Sandown Place in the popular Serangoon Gardens Estate is set to go under the hammer at Knight Frank’s upcoming auction on July 24. This stunning 2½-storey house, which sits on a generous land area of approximately 5,553 sq ft, will be offered at a starting price of $12.2 million, translating to a land rate of $2,197 psf.
This will be the first time the property will be available for sale through auction, as it is currently up for sale by its owner. Karen Ker, the manager of auction and sales at Knight Frank, describes the property as a masterpiece from the early 2000s, designed by renowned local architectural firm CDG Architects, known for their impressive portfolio of landed residential projects.
The property boasts a built-up area of about 8,695 sq ft, featuring five en suite bedrooms, a split-level living hall, a dining area, and separate dry and wet kitchens. The basement level is equally impressive, with an entertainment room, a courtyard equipped with a jacuzzi, and a peaceful koi pond.
According to Ker, the owner is looking to divest the property for investment purposes. URA caveats show the owner acquired the property for $2 million, or a land rate of $360 psf, back in September 1999. The most recent transaction of a similar land size recorded within 500m of the property was the sale of a 999-year leasehold semi-detached home along Alnwick Road, which was sold for $7.8 million on May 10. Before that, a freehold terraced house along Chuan Terrace was sold for $5.5 million on March 28.
Ker also mentions that the property for sale is situated on one of the larger plots in Serangoon Garden Estate, making it ideal for growing and multi-generational families. The location also offers easy access to reputable schools within a 1km radius, such as CHIJ Our Lady of Good Counsel, Rosyth School, and Zhonghua Primary School.
Residents of this prestigious estate will also benefit from a variety of dining and shopping options, including the famous Chomp Chomp Food Centre and Serangoon Garden Country Club located at Kensington Park Road, as well as the nearby Nex Mall at Serangoon Central. With major motorways like the Central Expressway within close proximity, connectivity to the rest of the island is a breeze.
Don’t miss this rare opportunity to own a piece of the highly sought-after Serangoon Gardens Estate. Contact Knight Frank today to find out more.