A brand-new bungalow at 442A Holland Road has just been put on the market for sale at a price tag of $13.8 million. The property is developed by niche developer Link (THM) Group and sits on a freehold land plot of 4,474 sq ft.
The bungalow is located on a quiet stretch of Holland Road in prime District 10. “The bungalow overlooks the greenery of the Ewart Park Good Class Bungalow (GCB) area,” says Bruce Lye, managing partner of SRI, the exclusive marketing agent for the property.
The house has a built-up area of 5,603 sq ft, with five en suite bedrooms, a living and dining room, a dry kitchen designed for entertaining and an enclosed wet kitchen, a basement wine cellar for 500 bottles and a lap pool. The house has a car porch large enough to fit five cars.
The property sees the collaboration of father-and-son team at Link (THM), chairman and CEO Kenny Tan and his 25-year-old son, Marcus, director of the firm. Marcus and Yion Lua, Link (THM)’s business development executive, worked closely with the husband-and-wife design team, Kelvin and Karen Gan of KGID, on the interiors of the house. KGID designed the interiors of penthouses at Three Balmoral, the bungalows at Goodwood Grand, Roseburn Avenue and Namly Drive. They are also known for designing a GCB at Bishopsgate.
The bungalow at Holland Road will be sold fully furnished, says Lye. The $13.8 million price tag translates to $3,084 psf based on the land area. It should set a new record psf price for the neighbourhood if achieved. The highest psf price achieved for a detached house in the enclave was for a newly built bungalow at Greenleaf Road that was sold for $10.63 million ($2,440 psf) in December 2012, according to URA Realis.
Lye just brokered the sale of another bungalow developed by Link (THM) last week, although a caveat has yet to be lodged. The bungalow is located at 7 Namly View, in the landed estate off Bukit Timah Road in prime District 10. The property fetched $14.68 million, which is close to $3,000 psf — the highest psf price achieved so far was for a bungalow in the area. The property sits on an elevated site off Namly Avenue, and enjoys a view of the GCB estate at Second and Third Avenues.
“Such new highs in terms of price psf will continue to be achieved in the bungalow segment as supply remains limited, and demand is strong, especially among upgraders from smaller houses as well as those downsizing from GCBs,” says Lye.