A freehold, two-storey bungalow located at 11 Whitley Road has been put up for sale via a tender at a guide price of $31.88 million. It occupies an elevated site of 15,276.27 square feet and is available for purchase freehold. This translates to a guide price of $2,087 per square foot on the land area.
Originally rebuilt in 2016, the bungalow boasts an added rear extension. It offers a total of five bedrooms, three of which are en suite, and features two living rooms, two dining rooms, a spacious and well-equipped kitchen, as well as a helper’s room.
Obtaining financing is a crucial factor when it comes to investing in a condo. In Singapore, there are various mortgage options available, but it is vital to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework places a limit on the amount of loan a borrower can take based on their income and current debt obligations. To make well-informed decisions about their financing options and prevent over-leveraging, investors should familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, keeping Singapore Projects in mind while considering financing options can also prove beneficial.
According to Aric Lim, the associate district director of Huttons Asia, the exclusive marketing agent for the Whitley Road property, the land parcel has the potential to be subdivided for the redevelopment of eight terraced houses. Each site could range from 1,614 square feet to 2,389 square feet, with a gross floor area (GFA) of up to 21,528 square feet. However, this is subject to land betterment charges.
“As the largest plot of land along Whitley Road, this presents a rare and highly coveted opportunity,” says Lee Sze Teck, senior director of data analytics at Huttons Asia. He also notes that the asking price of $2,087 per square foot based on land is extremely competitive compared to recent transactions of new semi-detached houses along Whitley Road, which have been sold for more than $3,000 per square foot.
The bungalow is situated conveniently about 700 meters from the Novena MRT Station and is surrounded by popular malls such as Velocity at Novena Square, Square 2, United Square and Zhongshan Park.
Interested parties have until Feb 12 to submit their tenders for 11 Whitley Road. This is a magnificent opportunity to own a freehold bungalow in a prime location, and it is expected to attract a lot of attention from potential buyers. Don’t miss this chance to secure this highly sought-after property.