A FREEHOLD bungalow site at 16 Tudor Close has been put on the market, and is expected to fetch in excess of $38 million. Based on its land area of 22,534 square feet (sq ft), it will cost $1,686 per square foot (psf).
On the site is a two-storey detached house, vacant at the moment and expected to be redeveloped by the buyer.
Under the Master Plan 2008, the plot is zoned for residential use, specifically for a two-storey bungalow; approval has been given, however, for sub-division into four bungalow plots, said Steven Ming, deputy managing director of Savills Singapore, which is brokering the sale.
Such prime sites are rare and would appeal to boutique developers and extended families who wish to live close together but yet enjoy their privacy, he added.
The District 11 property, accessible via Dunearn and Kheam Hock Road, was put on the market by a private individual. It is near the Camden Park and Chee Hoon Avenue Good-Class Bungalow area.
Orchard Road, Dempsey Hill and Holland Village are also not far away, so the site offers an array of retail, gourmet and lifestyle choices, on top of being near schools such as Anglo-Chinese School (Primary) and Nanyang Primary School.
Derrick Tan, an associate director for investment sales at Savills, said the property is expected to be well received because of its attractive attributes: it is well-elevated, of a regular shape and has a north-south orientation.
The tender for the site closes at 3pm on June 28.
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