SINGAPORE (EDGEPROP) - A freehold two-storey bungalow located at La Salle Street, off Frankel Avenue, has been launched for sale by tender with an indicative price of $28 million. The property has a land area of about 11,050 sq ft, which means the indicative price works out to $2,534 psf.
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The property sits on an elevated regular-shaped plot with a wide frontage of approximately 21m. It is located in Frankel Estate, an established landed housing enclave in District 15 comprising terrace, semi-detached and detached houses. Based on caveats lodged, the existing owner had purchased the property in May 2007 for $7.72 million, or $699 psf.
It was redeveloped and designed by Khairudin Saharom, director of Kite Studio Architecture who is on URA’s “20 under 45” list of architects who have contributed to the shaping of Singapore’s cityscape. Saharom had envisioned the house as “the ultimate family abode”, and designed a home that celebrates tropical living with airy, open spaces that enjoy natural light.
Completed in 2015, the two-storey bungalow has a built-up area of 19,000 sq ft and comes with basement and attic. There are six en suite bedrooms, a home cinema, an entertainment room, mahjong room, in addition to multiple family and living areas, dining and recreational spaces as well as helpers’ quarters. It has a car porch that can fit eight cars.
The private quarters are on the upper levels, with the master suite occupying the entire attic, and the other five bedrooms on the second level are designed as standalone apartments. The basement and first level have been designated the entertainment areas, with the living and dining area, private cinema and mahjong room located on these floors. Hence, the layout of the home ensures privacy of family members, but also provides ample communal spaces for them to gather.
Landscaping features, including courtyards and ponds, have been woven into the home, to ensure that the rooms enjoy cross-ventilation and natural light throughout the day. The greenery and waterscapes also play a dual function in keeping the house well-ventilated and cool at all times.
Given the size of its land and built-up area, the house is expected to appeal to multi-generational families and those who like to entertain at home, according to joint marketing agencies, JLL and Brilliance Capital.
“The house is particularly suited to families who want different spaces to accommodate to the needs of various family members,” says Sammi Lim, founder and executive director at Brilliance Capital. The future owner will also have the opportunity to reconfigure the house to suit the family’s own needs, given the flexibility of the design.
Spiralling construction costs and rising inflation has made completed houses a more attractive alternative to redevelopment, says Tan Hong Boon, executive director of JLL capital markets. “Turning to completed houses minimises cost escalation and construction risk that could result in further delays in an already lengthy rebuilding process of a new house,” he adds.
Covid has also led to a more pronounced trend of home buyers looking for larger homes across all market segments, in particular the landed housing segment. Prices of landed homes have increased 24 % since 1Q2020. “Many families realised that they require a lot more space these days,” says JLL’s Tan.
Frankel Estate and the neighbouring Opera Estate are among the most desirable landed housing estates in the prime Siglap area in District 15 in the East Coast. The private estate is accessible via Changi Road. It is close to amenities such as the Kembangan MRT Station, with shopping malls such as PLQ Mall, I12 Katong and Parkway Parade located within a short driving distance. It is also close to primary schools such as St Stephen’s School, Opera Estate Primary School, as well as Tao Nan School, Ngee Ann Primary and CHIJ (Katong) Primary School. The Global Indian International School (East Coast Campus) is close by too. Eateries along Changi Road, East Coast Road and in the Joo Chiat area also nearby.
The latest transaction in Frankel Estate was for a detached house on Siglap Road sitting on a freehold land area of 4,507 sq ft that changed hands for $7.75 million ($1,720 psf) in August, according to a caveat lodged. Prior to that, a semi-detached house at Frankel Avenue fetched $8.39 million ($2,557 psf), based on a caveat lodged in July.
However, the last transaction of a detached house with a land area of more than 10,000 sq ft in Frankel Estate was in September 2021. It was for a house built in the late 1990s sitting on a 12,046 sq ft site that changed hands for $10.5 million ($872 psf). This is because the house is 23 years old, and the new owner would have to spend more money on additions and alterations or redevelopment, notes Lim of Brilliance Capital.
Meanwhile, the tender for the detached house on La Salle Street will close on Oct 20 at 2.30pm.
Check out the latest listings near Frankel Estate, Kembangan MRT Station, St Stephen’s School, Opera Estate Primary School, Tao Nan School, Ngee Ann Primary School, CHIJ (Katong) Primary School