A freehold bungalow located at 11 Whitley Road has been listed for sale through a tender process with a guide price of $31.88 million. The two-storey property sits on an elevated freehold site measuring 15,276.27 sq ft, which works out to be $2,087 psf on the land area.
Originally built in 2016, the bungalow has been renovated with a rear extension. The spacious house boasts five bedrooms, three of which are en suite, along with two living rooms, two dining areas, a large well-equipped kitchen, and a helper’s room.
According to Aric Lim, associate district director of Huttons Asia, who is the exclusive marketing agent for the property, the land parcel has the potential to be subdivided for the redevelopment of eight terraced houses. Each site would range from 1,614 sq ft to 2,389 sq ft, with a total gross floor area (GFA) of 21,528 sq ft, subject to land betterment charges.
Lee Sze Teck, senior director of data analytics at Huttons Asia, notes that this is one of the largest plots of land along Whitley Road. He also mentions that the guide price of $2,087 psf based on land is very competitive when compared to recent transactions of new semi-detached houses along the same road, which have been sold for over $3,000 psf.
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The property is conveniently located about 700m from Novena MRT Station and is in close proximity to various shopping malls such as Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.
The tender for 11 Whitley Road will close on February 12th.