A freehold two-storey bungalow situated at 11 Whitley Road is now up for sale through a tender process, with a guide price of $31.88 million. The spacious property sits on an elevated freehold land measuring 15,276.27 square feet, translating to a desirable price of $2,087 per square foot on the land area.
Originally rebuilt in 2016, with the addition of a rear extension, the bungalow boasts a total of five bedrooms, with three of them being en suite. Additionally, the house features two living rooms, two dining rooms, a well-equipped kitchen and a helper’s room.
The large land parcel presents the opportunity for subdivision into eight terraced houses, with each site ranging from 1,614 square feet to 2,389 square feet. Furthermore, it has the potential for a gross floor area (GFA) of up to 21,528 square feet, subject to land betterment charges. Aric Lim, associate district director of Huttons Asia, the exclusive marketing agent for the property at Whitley Road, confirms this.
Senior director of data analytics at Huttons Asia, Lee Sze Teck, comments that this is likely the largest plot of land available on Whitley Road. He adds that the asking price of $2,087 per square foot based on land is highly competitive compared to recent transactions of newly built semi-detached houses on the road, which have been sold for over $3,000 per square foot.
Strategically located about 700 meters from the Novena MRT Station, the property is also in close proximity to popular shopping malls such as Velocity at Novena Square, Square 2, and United Square, as well as Zhongshan Park.
The tender for 11 Whitley Road will close on February 12th, giving interested buyers ample time to submit their offers.