Freehold Detached House Melrose Drive Sale Tender 168 Mil
(UPDATED)
The sprawling freehold property at 3 Melrose Drive, located in the highly sought-after Braddell Heights Estate (District 13), has recently been put up for public tender with a starting price of $16.8 million on December 20. According to Tracy Goh, head of capital markets at PropNex, the marketing agent for the property, the indicative price is approximately $1,185 per square foot (psf) based on the expansive 14,175 square foot land area of the property. One of the main selling points of the property is its generous land size, which is currently the largest in the entire Melrose Drive neighbourhood.
Under the latest URA Master Plan 2019, the property, which is zoned for two-storey bungalows and residential use, offers excellent potential for redevelopment. As the site has a wide 40-metre frontage along Melrose Drive, Goh further adds that it can potentially be redeveloped into two separate detached homes, subject to the necessary approvals. The sale of the property was first made known through an expression of interest exercise on October 18 and comprises two existing bungalows – a single-storey bungalow built in the mid-1980s at the front of the property and a 2½-storey detached house at the back that was built in 2013. These two houses are connected by a staircase. The current owners’ parents acquired the single-storey bungalow in 1988. The house, which has an approximate built-up area of 3,000 sq ft and three bedrooms, has since been expanded and renovated.
The newer 2½-storey house, constructed in 2013, has five bedrooms and an impressive built-up area of 6,000 sq ft. The house boasts a spacious living and dining area that opens to a lovely patio, a guest room with an en suite bathroom, a utility area and a helper’s room on the first level. On the second level, there are three more bedrooms with en suite bathrooms, which include the master suite, as well as a family room. The attic offers additional space, comprising a lounge, a gym and an en suite bathroom.
In addition to its prime location, the Melrose Drive bungalow also boasts excellent accessibility. The property is within a 1km radius of several prestigious schools such as the CHIJ Our Lady of Good Counsel at Burghley Drive, Kuo Chuan Presbyterian Primary at Bishan Street 13, St Gabriel’s Primary at Lorong Chuan and Yangzheng Primary at Serangoon Avenue 3. Residents of the property can conveniently access the Lorong Chuan MRT station on the Circle Line, as well as the Central Expressway (CTE) and Pan Island Expressway (PIE). The bustling Orchard Road shopping district is approximately a 15-minute drive away while the Central Business District (CBD) is less than 20 minutes away via the CTE.
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According to Goh, the Melrose Drive property offers an excellent opportunity for developers or large multigenerational families planning to rebuild the plot into a single, spacious detached house or two separate houses to accommodate for different living arrangements. In light of the property’s land area of less than 15,069.5 sq ft, PropNex notes that permanent residents of Singapore with the required approval from the Land Dealings Approval Unit (LDAU) are eligible to purchase the property. Furthermore, Goh adds that the potential buyer stands to benefit from paying little to no Land Betterment Charge as the site features a high baseline for development. PropNex also believes that the property is competitively priced when compared to recent transactions of landed properties within the vicinity.
The public tender for 3 Melrose Drive will close on January 16 at 2pm.