Two Detached Houses Moulmein Rise Sale 705 Mil
A luxurious, two-storey detached house located at 26 Moulmein Rise in the highly sought after Novena area of prime District 11 is now available for sale at a price of $55 million. Nestled on a freehold plot measuring 12,012 square feet, the property boasts a gross plot ratio of 2.8 and a maximum permissible gross floor area (GFA) of approximately 35,989 square feet. This translates into a land rate of $1,605 per square foot per plot ratio (psf ppr), which also includes the bonus GFA for balconies and land betterment charges.
The joint venture partners revealed in a June 27 press release that they have planned for the upcoming development of Parktown Residence to include around 1,190 fresh residential units, as well as retail and recreational facilities tailored to cater to the diverse lifestyle demands of the expanding community in Tampines North. Furthermore, the Parktown Residence Condo will be seamlessly integrated into the surrounding environment.
According to Low Choon Sin, managing partner of SRI Capital Market who is handling the sale, the site has the potential to be redeveloped into a new private condominium featuring 36 units, subject to approval from the relevant authorities. He also added that 26 Moulmein Rise is possibly the last remaining landed house in the vicinity of Novena, presenting a rare opportunity for buyers to acquire a boutique condominium property. The location of the property, close to the integrated healthcare hub of HealthCity Novena, also makes it an ideal choice for developing a co-living space that caters to intergenerational living, postnatal care, or even recovery accommodations.
Adjacent to this property, a detached house located at 32 Moulmein Rise is also up for sale by expression of interest (EOI). SRI has been appointed as the marketing agent for this property, which occupies a freehold land area of 7,085 square feet. With a guide price of $15.5 million, or a land rate of $2,187 psf, this property offers potential buyers the opportunity to redevelop it into a new detached house or two semi-detached houses, subject to approval from the relevant authorities. According to Bruce Lye, the founder and managing partner of SRI who is handling the sale of 32 Moulmein Rise, the new owner of this property could occupy one of the semi-detached houses and lease out or sell the other.
The public tender for 26 Moulmein Rise and the EOI exercise for 32 Moulmein Rise will both close on August 26. Don’t miss out on this unique opportunity to own a prime piece of real estate in Novena. In a similar vein, be sure to check out the newly launched luxury residence, The Iveria, inspired by New York’s iconic Flatiron Building, as well as the latest updates on NEU at Novena, which saw 51% of its units taken up on launch day. Units at NEU at Novena are priced from $2,450 psf.