60 Kheam Hock Road (Picture: Quinvest Chambers International)
SINGAPORE (EDGEPROP) - A bungalow at 60 Kheam Hock Road in District 11 is up for sale through an expression of interest (EOI) exercise. The two-storey detached property has an asking price “in the region of $16.38 million”, according to marketing agent Quinvest Chambers International. The firm adds that an independent valuation obtained on the property earlier this year estimates its value at $16.5 million.
The property occupies a freehold site measuring 7,393 sq ft. Under the Master Plan 2019, the site is zoned for “residential, 2-storey mixed landed” use. The site is regular in shape and has an 18m frontage along Kheam Hock Road. The asking price translates to a land rate of approximately $2,215 psf.
Map of 60 Kheam Hock Road. The site is located close to Kew Lodge, which recently was sold en bloc to Aurum Land (Source: EdgeProp LandLens)
The two-storey bungalow comes with a basement level and has an estimated built-up area of approximately 4,200 sq ft. The basement level houses the kitchen, dining and living areas as well as a courtyard and an ensuite granny’s room. There are also four ensuite bedrooms on the first and second floors. The car porch, located on the first storey, is also able to accommodate two cars.
The property, which was previously rented out over the last 10 years, will be sold with vacant possession. Besides retaining its current use as a bungalow, the successful buyer may consider subdividing the plot for two semi-detached homes, subject to approval by the relevant authorities, notes Quinvest Chambers International.
Nearby amenities include the Singapore Botanic Gardens, malls such as Cluny Court, Serene Centre and Coronation Shopping Plaza, and the Botanic Gardens MRT Station (Circle and Downtown Lines).
Ian Loh, managing director of Quinvest Chambers International, highlights that the property is located a few doors away from Kew Lodge, a freehold apartment that was recently purchased en bloc by Aurum Land for $66.8 million. (See potential condos with en bloc calculator)
Read also: Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures
“[The transaction] has further strengthened the land prices and the appeal of the area,” remarks Loh. “With an asking price that is below valuation, 60 Kheam Hock Road presents a rare opportunity and tremendous value for home-seekers who wishes to enter the landed market in this prime district."
The EOI for 60 Kheam Hock Road will close on June 21.
Recent transactions of landed properties on Kheam Hock Road (Source: EdgeProp Research)
Check out the latest listings near Kheam Hock Road, Kew Lodge, Botanic Gardens MRT Station