999 Year Leasehold Detached House Serangoon Gardens Auction 122 Mil
A detached house with a 999-year leasehold and a basement in Serangoon Gardens Estate is set to be auctioned by Knight Frank on July 24 with a starting price of $12.2 million. The property, located along Sandown Place, has a land area of 5,553 sq ft which translates to a land rate of $2,197 psf.
This will be the first time the property will be put up for auction, with vacant possession included in the sale. According to Karen Ker, manager of auction and sales at Knight Frank, the house was built in the early 2000s and was designed by CDG Architects, a prominent local architectural firm known for their portfolio of landed residential projects.
Spanning across 8,695 sq ft, the 2½-storey house boasts five en suite bedrooms, a split-level living hall, a dining area, and separate dry and wet kitchens. The basement level features an entertainment room, a courtyard with a jacuzzi, and a koi pond.
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The owner is selling the property for divestment purposes, says Ker. According to URA caveats, the property was purchased for $2 million, or a land rate of $360 psf, in September 1999. URA Realis records also show that the most recent transaction of similar land size within 500m of the property was a 999-year leasehold semi-detached home along Alnwick Road, which was sold for $7.8 million on May 10, with a land rate of $1,688 psf.
Before that, a freehold terraced house along Chuan Terrace was sold for $5.5 million on March 28, with a land rate of $1,066 psf. With a land area of 5,553 sq ft, Ker adds that the property for sale is one of the larger plots in Serangoon Garden Estate, making it an ideal home for growing and multi-generational families.
The property is also conveniently located within close proximity to reputable schools such as CHIJ Our Lady of Good Counsel, Rosyth School, and Zhonghua Primary School. The Serangoon Garden estate also offers a variety of F&B options and amenities, with Chomp Chomp Food Centre and Serangoon Garden Country Club located at Kensington Park Road, and Nex Mall at Serangoon Central just a short drive away. Major motorways such as the Central Expressway also make it easy to travel to other parts of the island.