[UPDATE] Conservation bungalow at Mountbatten Road, now Sing Hoe Hotel, for sale at $27 mil
By Cecilia Chow
/ EdgeProp Singapore |
The conservation bungalow at 759 Mountbatten Road is on the market for sale by tender, which will close on May 24 (Photo: Century 21/Huttons Asia)
SINGAPORE (EDGEPROP) - A freehold conservation bungalow at Mountbatten Road in the prime East Coast neighbourhood of District 15 is currently on the market for sale by public tender. The 1920s colonial-style bungalow at 759 Mountbatten Road is part of a row of 15 bungalows along Mountbatten Road that was designated by URA for conservation in 1993.
The bungalow at 759 Mountbatten Road sits on a freehold land area of 20,847.54 sq ft and has a price tag of $27 million, or $1,295 psf based on the land area. The property is jointly marketed by Adrian Lim, team director of Century 21, and Stephen Tan, senior group director of Huttons Asia.
Its address was originally 759 Grove Road, when the property was the residence of Tan Swee Hoe, one of the founders of Ho Hong Bank, which eventually became part of Oversea-Chinese Banking Corp (OCBC). Tan subsequently became a director of OCBC. When he passed away, the property was passed into the hands of his sons, Tan Suan Chuan and Tan Suan Kok, in 1949.
The 41-room Sing Hoe Hotel at 759 Mountbatten Road has been in operation for 75 years, since the end of World War II (Credit: Century 21/Huttons Asia)
Grove Road was renamed Mountbatten Road, after Lord Louis Mountbatten, British Admiral, and the Supreme Allied Commander in Southeast Asia from 1943 to 1945. Like the other houses at Grove Estate, the address of the property was subsequently changed to 759 Mountbatten Road.
Since the end of World War II, the bungalow at 759 Mountbatten Road has been run as a hotel, formerly Sin Hoe Hotel and now Sing Hoe Hotel. The 41-room hotel saw Ong Tiow Kian, a hotelkeeper, becoming an owner in the 1950s, together with the Tans. The 1960s saw the ownership expanding to include more shareholders, namely Wong Kim Geok, Ong Soon Kian, Ee Koon Chow and Ong Khim Mooi.
Over the past 75 years, ownership of the hotel has been passed to the descendants of these shareholders. Today, the owners of the hotel comprises 17 individuals, representing the families of the shareholders, predominantly the Tans, Ongs and Wongs.
The bungalow at 759 Mountbatten Road is one of 15 along that stretch of Mountbatten Road that has been designated for conservation by the URA in 1993 (Credit: EdgeProp Inspector)
According to the marketing agents, there are three different permutations in terms of the use of the property. One possibility is that the hotel can be converted into a “trendy co-living concept” subject to approval from the relevant authorities. Another possibility is to turn the property into a luxury residence. The land is large enough to include facilities such as swimming pool, basketball court and mini golf driving range. Given the 29m frontage along Mountbatten Road and 66.7m depth, the property is large enough to include a private garage for 20 cars.
In addition to the conservation bungalow which can be restored, there is a two-storey annex in the rear that was built in 1995. The new owner can either retain the existing annex or tear it down to build a new and bigger extension.
URA is also willing to consider the option for the development of a new, strata-titled residential flat building on the site, provided the bungalow is conserved and restored for alternative use. Examples of condominiums in the prime District 15 neighbourhood that have incorporated a conservation building within their development include Grand Duchess at St Patrick’s, The Aristo @ Amber and The Red House.
The Red House has been conserved, while a new apartment block has been built behind the property (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Amenities in the vicinity of 759 Mountbatten Road include the upcoming Katong Park MRT Station (expected to be operational by end of this year), and top schools such as Kong Hwa School, Chung Cheng High School, Dunman High School and Victoria Junior College. East Coast Park and Goodman Arts Centre are nearby too.
The last conservation bungalow along this stretch to change hands was Chans’ Ville at 745 Mountbatten Road, which was home to the late Dr Chan Ah Kow and his seven children. In April 2004, the early Modern-style, double-storey bungalow sitting on a sprawling 55,259 sq ft, freehold site was sold to Simon Cheong of SC Global Developments for $11 million ($200 psf).
SC Global conserved the original bungalow and built four more new bungalows around it. The conserved Chans’ Ville sits on the largest plot of 22,979 sq ft, and was sold for $13 million ($566 psf) in May 2007.
Back in 2001, the conservation bungalow at 755 Mountbatten Road changed hands for $4.9 million ($230 psf) in April 2001, according to a caveat lodged then (Credit: GoogleMaps)
The conservation bungalow at 755 Mountbatten Road, located next to Sing Hoe Hotel, changed hands for $4.9 million in April 2001, according to a caveat lodged then. The price of the property, which sits on a freehold site of 21,328 sq ft, reflected a land rate of $230 psf.
There have been very few bungalow transactions in the Mountbatten area that involve large freehold plots above 20,000 sq ft. The latest was for a detached house sitting on a freehold site of 25,681 sq ft on Wilkinson Road, which changed hands for $32.1 million ($1,250 psf), according to a caveat lodged in October 2017. Meanwhile, further down at Meyer Road, also in prime District 15, a bungalow sitting on a freehold site of 25,525.51 sq ft was sold for $32,68 million ($1,280 psf), according to a caveat lodged in January this year. However, both these recent transactions at Wilkinson Road and Meyer Road are not of conservation bungalows.
Strong demand has driven overall prices of landed property in Singapore to surge 13.1% in 2021 - the highest since 2010, according to URA data.
The conservation bungalow at 759 Mountbatten Road will provide an opportunity for those who want a property with a rich history and character, notes Huttons’ Tan. The tender will close on May 24 at 3pm.
Check out the latest listings near Mountbatten Road, Grand Duchess at St Patrick’s, The Aristo @ Amber, The Red House, Katong Park MRT Station, Kong Hwa School, Chung Cheng High School, Dunman High School, Victoria Junior College, East Coast Park, Goodman Arts Centre
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