Detached home along Oakwood Grove on the market for $4.4 mil

The property is located on a land of 7,433 sq ft, with a built-up area of about 6,062 sq ft (Credit: Edmund Tie)

SINGAPORE (EDGEPROP) - A three-storey detached home along Oakwood Grove, off Woodlands Ave 1 will be put up for owner auction on Nov 16 at a guide price of $4.4 million ($591 psf), says Joy Tan, senior director, head of auction and sales at Edmund Tie, which is handling the auction.

The property is located on a land of 7,433 sq ft, with a built-up area of about 6,062 sq ft. The house was completed circa 1999–2000, says Tan and the “only major renovation was done when the owner bought the unit”. Since then, “minor repairs have been done throughout the years, in between tenancies”, she says.

Overall, it is generally in a “well-kept condition”, notes Tan.

The home comprises six bedrooms and an additional guest room, all with en-suite bathrooms. There is also a utility room, as well as storerooms on all levels.

The land is currently zoned for three-storey mixed landed use, which means that “future developers may choose to sub-divide it into a pair of semi-detached houses”, says Tan.

The living room also has a double volume ceiling height of 8.8m and there is a split-level dining area which overlooks the swimming pool. The car porch can fit two to three cars.

The owner is using the property as one of his investment properties for rental purposes and has decided to sell it as he believes it is now “the right time” to move on with the investment, she shares.

“The unit is currently tenanted out to a family till December and the new owner can negotiate for an extension of their tenancy or purchase it with vacant possession after December,” adds Tan.

Given the property’s close proximity to a number of key amenities, “rental is healthy in this landed estate”, she notes. This includes educational institutions like Singapore American School, Republic Polytechnic and Singapore Sports School.

The property is also a short drive away to malls like Causeway Point, Marsiling Mall, Woodlands Civic Centre and Vista Point. It is a 15-minute walk to Marsiling MRT station on the North South Line.

Another draw factor to the location is the Singapore government’s plans for the Woodlands enclave, envisioning Woodlands Regional Centre to be the largest economic hub in the city-state’s North region. The hub will span over 100 ha of land, housing spaces for business, industry, research and development, and learning and innovation.

Tan believes this “will bring more Grade A offices” to the area, thereby contributing to greater rental opportunities in the area.

So far, properties within the vicinity have been able to fetch rents ranging from $7,000 to $11,000 per month in 2021, based on transactions lodged with URA. “Typically, landed units attract owner-occupiers as landlord-hopefuls might steer towards buying a condo for rental purposes, given its more bite-sized quantum,” comments Tan. (Discover insightful data of any Singapore condominium with our condo directory)

Check out the latest listings near Oakwood Grove, Marsiling MRT station, Singapore American School, Republic Polytechnic, Singapore Sports School