999-year leasehold detached house in Serangoon Gardens up for auction at $12.2 mil

July 5, 2024

The 2˝-storey leasehold property will be put on auction at Knight Franks’ next auction on July 24 (Credit: Knight Frank Singapore)

A 999-year leasehold detached house with a basement along Sandown Place in Serangoon Gardens Estate will be put on the block at Knight Frank’s next auction on July 24 for $12.2 million. The 2˝-storey property sits on a land area of about 5,553 sq ft, translating to a land rate of $2,197 psf.

An owner’s sale, this will be the first time that the property will be offered for sale via auction. It will be sold with vacant possession.

Karen Ker, manager of auction and sales at Knight Frank, says the house was built in the early 2000s and designed by CDG Architects, a locally-based architectural firm with a vast portfolio of landed residential projects.

The house has a built-up area of approximately 8,695 sq ft. It includes five en suite bedrooms, a split-level living hall, a dining area, and separate dry and wet kitchens. The basement level features an entertainment room, a courtyard with a jacuzzi, and a koi pond.

The owner is selling the property for divestment purposes, says Ker. URA caveats show that they bought the property for $2 million, or a land rate of $360 psf, in September 1999.

URA Realis records show that the most recent transaction of similar land size recorded within 500m of the property was the sale of a 999-year leasehold semi-detached home along Alnwick Road. It had a land area of 4,620 sq ft and was sold on May 10 for $7.8 million, or a land rate of $1,688.

Before that was the sale of a freehold terraced house along Chuan Terrace. The property had a land area of 5,159 sq ft and was sold on March 28 for $5.5 million, or a land rate of $1,066 psf.

With a land area of 5,553 sq ft, Knight Frank’s Ker adds that the property for sale sits on one of the larger plots in Serangoon Garden Estate, making it ideal for housing growing and multi-generational families.

Additionally, several reputable schools are within a 1km radius, including CHIJ Our Lady of Good Counsel on Burghley Road, Rosyth School on Serangoon North Avenue 4, and Zhonghua Primary School on Serangoon Avenue 4.

The Serangoon Garden estate offers plenty of F&B options and amenities, ensuring convenience for its residents. Chomp Chomp Food Centre and Serangoon Garden Country Club — both located at Kensington Park Road — and Nex Mall at Serangoon Central are just a short drive away. Major motorways nearby, such as the Central Expressway, also provide connectivity to the rest of the island.

More at: https://www.edgeprop.sg/property-new...uction-122-mil