SINGAPORE (EDGEPROP) - A freehold bungalow at 29A Jalan Hajijah, off Upper East Coast Road, has been put up for sale at a guide price of $13.5 million. The property will be sold in an expression of interest (EOI) exercise managed by Savills Singapore, the marketing agent.

The bungalow sits on a 11,746 sq ft plot. The guide price translates to a land rate of $1,149 psf. The property was previously put on the market for $15.25 million ($1,298 psf) in September 2022, but did not manage to secure a successful buyer. Savills was also the marketing agent then.

The property sits at the end of a cul-de-sac on Jalan Hajijah. The site has an average plot depth of about 25m and an average plot width of about 32m. It has a plot ratio of 1.4. According to Savills, the site could be redeveloped into a bungalow or a boutique apartment block that can accommodate up to 15 units, subject to approvals.

Read also: Semi-detached house at 8 Bournemouth Road on the market for $11.6 mil

This is an opportunity to acquire a sizeable freehold development site that also offers planning flexibility to be redeveloped into various housing types, says Sophia Lim, director of investment sales & capital markets at Savills Singapore.

“The underlying demand for landed homes remains positive in District 16, as many high-net-worth individuals and families are on the prowl for well-located landed properties given the positive long-term outlook for this asset class,” she says.

The EOI exercise for the bungalow sale will close on Aug 16.