Freehold Detached House Melrose Drive Sale Tender 168 Mil
A detached freehold house at 3 Melrose Drive in Braddell Heights Estate (District 13) is now available for public tender with a starting price of $16.8 million as of Dec 20. According to PropNex Singapore, the marketing agent, the indicative price works out to be $1,185 per square foot (psf) based on the land area of 14,175 square feet. This property boasts the largest bungalow plot on Melrose Drive, making it a highly coveted piece of real estate.
Under the URA Master Plan 2019, the site is zoned for two-storey bungalows and residential use. “Due to its large land area, the District 13 site presents excellent potential for redevelopment, and could potentially be transformed into two detached homes, subject to relevant approvals. The site also boasts a 40-metre frontage facing Melrose Drive,” explains Tracy Goh, the head of capital markets at PropNex.
The property was initially listed for sale through an expression of interest on Oct 18. It comprises of two houses – a single-storey bungalow built in the mid-1980s at the front, and a 2½-storey detached house built in 2013 at the back. A staircase connects the two properties together. The single-storey bungalow was purchased by the current owner’s parents in 1988. It has a built-up area of approximately 3,000 square feet and three bedrooms.
The newer 2½-storey house boasts five bedrooms and a built-up area of 6,000 square feet. It features a living and dining area that opens to a patio, an en suite guest room, a utility area and a helper’s room on the first level. On the second level, there are three en suite bedrooms, including the master suite and a family room. The attic has a lounge and a gym with an en suite bathroom.
The Melrose Drive bungalow is located within a 1km radius of several renowned schools, such as CHIJ Our Lady of Good Counsel at Burghley Drive, Kuo Chuan Presbyterian Primary at Bishan Street 13, St Gabriel’s Primary at Lorong Chuan, and Yangzheng Primary at Serangoon Avenue 3.
The property can be easily accessed via the Lorong Chuan MRT Station on the Circle Line and is also within close proximity to the Central Expressway (CTE) and the Pan Island Expressway (PIE). It is approximately a 15-minute drive to Orchard Road and less than 20-minutes away from the CBD via the CTE.
According to Goh, the bungalow presents a promising opportunity for developers or families looking to rebuild the plot into a large detached house or two separate houses for multi-generational living. She also notes that since the property’s land area is less than 15,069.5 square feet, Singapore permanent residents with approval from the Land Dealings Approval Unit (LDAU) can acquire the property.
She adds: “The potential buyer will enjoy the advantage of paying minimal to no Land Betterment Charge as this site has a high development baseline. Additionally, we believe that the site is well-priced in comparison to other landed properties traded in the area this year.”
The tender for the property will close on Jan 16 next year at 2pm.
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