SINGAPORE (EDGEPROP) - A freehold detached house at 3 Melrose Drive in Braddell Heights Estate (District 13) is now open for public tender at $16.8 million as of Dec 20. PropNex Singapore, the marketing agent, the indicative price is $1,185 psf based on a land area of 14,175 sq ft. Notably, this property boasts the largest bungalow plot on Melrose Drive.

Under the URA Master Plan 2019, the site is zoned for two-storey bungalows and residential use. “Owing to its land area, the District 13 site presents good redevelopment potential and can be rebuilt into two detached homes, subject to approvals. The site has a 40m frontage to Melrose Drive,” says Tracy Goh, head of capital markets at PropNex.

The property was initially listed for sale through an expression of interest on Oct 18. It comprises two houses: a mid-1980s single-storey bungalow at the front and a 2½-storey detached house built in 2013 at the back. A staircase interconnects these properties. Initially single-storey, it was acquired by the current owner's parents in 1988. It has a built-up area of approximately 3,000 sq ft and three bedrooms.

Read also: Freehold shophouse on Race Course Lane going for $8.8 mil

The newer 2½-storey house has five bedrooms and a built-up area of 6,000 sq ft. The house has 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 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 within a 1km radius of many schools, including the 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 is accessible via the Lorong Chuan MRT Station on the Circle Line and from the Central Expressway (CTE) and the Pan Island Expressway (PIE). It is about a 15-minute drive to Orchard Road and less than a 20-minute from the CBD via the CTE.

Goh says the bungalow offers a good opportunity for developers or families looking to rebuild the plot into a single, large detached house or two houses to cater to multi-generational living. She notes that since the property’s land area is less than 15,069.5 sq ft, Singapore permanent residents with the Land Dealings Approval Unit (LDAU) approval to acquire restricted residential property are eligible to purchase the site.

She adds: “The potential buyer will benefit as they have to pay little to no Land Betterment Charge as this site has a high development baseline. In addition, we believe the site is priced-to-sell when compared against the transacted values of landed properties traded in the area this year.”

The tender will close on Jan 16 next year at 2pm.