The two-storey terraced home sits on a 4,593 sq ft plot and contains a built-up region of 1,884 sq ft.
This had been the first time that the home was provided in an auction, which was a real estate sale,” says Leonard Lee, partner group manager (auction solutions ) in PropNex Realty.
The property is located at a two-storey mixed landed property off Bukit Timah Road, and can be between the Fantastic Class Bungalow regions of Fourth/Sixth Avenue and Garlick Avenue. The property is primed for redevelopment and may be converted to a two 1/2-storey corner house, says Lee.
“Depending on the extent of the rebuild along with adjustment functions, along with other aspects like eventual gross floor space and substances utilized, it may cost upwards of $1 million to maximise the capacity of their property,” he says.
The neighbourhood has observed at least seven trades over the previous 3 years, and among the latest was in the nearby Lantana Avenue. Another 4,166 sq feet home at Lasia Avenue was offered for about $ 7.3 million ($1,752 psf) in June this past year.
The terraced house is likely to draw wealthy homeowners that are seeking a plot of land to build a home that suits their tastes and taste, says Lee. This really is a”unique buying opportunity”, he says, because Singapore’s landed housing inventory comprises just over 5 percent of the entire housing supply. Terraced and corner terraced homes in the Bukit Timah area will also be rarely available for sale since the neighbourhood includes a larger percentage of submerged and semi-detached homes, Lee adds.