A two-storey bungalow located at 11 Whitley Road has been put on the market for sale through a tender process, with a guide price of $31.88 million. The property, situated on an elevated freehold site measuring 15,276.27 square feet, translates to a price of $2,087 per square foot on the land area.
Originally built in 2016, the bungalow has undergone a recent renovation which included a rear extension. It features five bedrooms, with three of them being en suite, as well as two living rooms, two dining rooms, a spacious and well-equipped kitchen, and a helper’s room.
According to Aric Lim, associate district director of Huttons Asia, the exclusive marketing agent for the property, the land parcel has the potential to be subdivided for the development of eight terraced houses. Each site would range from 1,614 square feet to 2,389 square feet, and the gross floor area (GFA) for the redevelopment could reach up to 21,528 square feet, subject to land betterment charges.
“The 11 Whitley Road property boasts the largest plot of land along the road,” says Lee Sze Teck, senior director of data analytics at Huttons Asia. He also mentions that the asking price of $2,087 per square foot for the land is highly competitive compared to recent transactions of new semi-detached houses along Whitley Road, which have been sold for over $3,000 per square foot.
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Conveniently located, the bungalow is just 700 meters from the Novena MRT Station and in close proximity to shopping malls such as Velocity at Novena Square, Square 2, and United Square, as well as Zhongshan Park.
Interested parties can submit their bids for the tender of 11 Whitley Road until February 12th.