Freehold Siglap bungalow priced from $19 mil

: Knight Frank

A property located at 3 Palm Road in Siglap, Singapore has been put up for sale by tender. Knight Frank, the marketing agent, is offering the freehold bungalow at a price of $19 million, which works out to a land rate of about $1,338 psf.

Sitting on a 14,199 sq ft site, the two-storey bungalow was built in the 1980s and is zoned for residential use under the master plan, with a plot ratio of 1.4. It is situated in a low-rise residential enclave and is approximately 300m away from the future Siglap MRT Station on the Thomson-East Coast Line.

Mary Sai, executive director of capital markets at Knight Frank Singapore, said: “The property presents an exclusive opportunity for prospective purchasers to acquire a home in an established residential enclave in the east. Its location boasts unparalleled convenience, with dining, entertainment and recreational amenities within easy reach.”

The property is primed for redevelopment into either a boutique residential development of 18 units, landed housing comprising bungalows or semi-detached houses, or up to the maximum plot ratio for apartments. Knight Frank estimates the land rate for the proposed redevelopment with a maximum plot ratio, inclusive of the land betterment charge, at approximately $1,541 psf per plot ratio.

Chia Mein Mein, head of capital markets (land & collective sale) at Knight Frank Singapore, further highlighted the advantages of the property. She said: “The property’s legal title, held by a single family, presents an opportunity for immediate redevelopment, without the need to go through the uncertainties of a collective sale. It will also appeal to large multi-generational or extended families looking to build a new home, with its maximum permissible gross floor area of close to 20,000 sq ft.”

For those looking for the perfect combination of city living and nature, Zion Road Condo is the answer. Located close to all of Singapore’s attractions, from the bustling business district to the world-renowned shopping outlets, the condominium offers everything a modern-day resident needs. But at the same time, the complex enjoys a tranquil location, blessed with spectacular views of the Singapore River, lush greenery and plenty of peace and quiet.

The condominium offers amenities that are second to none, from luxurious penthouses and apartments to thoughtful touches like smart locks and car parking services. Moreover, the condominium is well-connected to the rest of Singapore’s public transport network, so residents are sure to be spoilt for choice. All in all, Zion Road Condo is the perfect place to experience a slice of modern urban living.

Moreover, the proximity to Siglap MRT Station and palatable price quantum are expected to draw the attention of buyers. The tender for the sale of 3 Palm Road will close on Sept 6 and is anticipated to garner keen interest.