The subject property for sale is a two-storey house with three bedrooms and three bathrooms. (Picture: Edmund Tie)
SINGAPORE (EDGEPROP) - A freehold corner terraced house off Tanjong Katong Road in District 15 will be on the block at Edmund Tie’s next auction on May 24. An owners’ sale, the two-storey house has a guide price of $4.2 million, and the property is on an approximately 2,770 sq ft plot, with a total built-up area of about 1,800 sq ft. The price translates to $1,516 psf on the land area.
The corner terraced house is located along Green Lane, which is bounded by Tanjong Katong Road and Lim Ah Woo Road. This entire landed estate comprises a mix of corner and inter-terrace houses along Pebble Lane, Gray Lane, Sandy Lane, and Green Lane.
According to the property listing, the subject property for sale is a two-storey house with three bedrooms and three bathrooms. The house is positioned in a North-South orientation and the site has a gross plot ratio of 1.4 based on the latest Master Plan. A benefit of the relatively spacious land size is the generous garden area beside the existing house.
Due to the original condition of the existing house, the Edmund Tie auction team recommends this as a redevelopment or addition & alteration (A&A) project for the new homeowner.
The property is about 300m from City Plaza and Kinex shopping malls in the Paya Lebar precinct. It is also about 500m from Tanjong Katong Complex and PLQ3, one of the three office towers in Paya Lebar Quarter (PLQ). PLQ also comprises PLQ Mall and the development is adjacent to Paya Lebar Square and Singapore Post Centre.
This proximity means that one of the nearest MRT stations is Paya Lebar MRT Interchange on the East-West and Circle Lines. The next closest MRT station from the property is Dakota Station on the Circle Line.
Primary schools within 1km of the house are Haig Girls School, Kong Hwa School and Tanjong Katong Primary School. Other primary schools in the vicinity include CHIJ (Katong) Primary, Geylang Methodist School (Primary), Maha Bodhi School and Tao Nan School. Nearby secondary schools include Tanjong Katong Secondary, Tanjong Katong Girls School, Chung Cheng High School, and Broadrick Secondary.
This neighbourhood of District 15 — the Geylang East subzone, according to the planning area — is bustling with buying activity due to the three new projects in the area. The latest to preview is The Continuum, an 816-unit condo by Hoi Hup Realty and Sunway Property on Thiam Siew Avenue less than 100m from the subject property.
Developers City Developments (CDL) and MCL Land launched the 638-unit Tembusu Grand along Jalan Tembusu on April 8. Buyers snapped up 340 units (53%) at an average price of $2,465 psf.
The area will next see the launch of the 1,008-unit Grand Dunman on Dunman Road. Developer SingHaiyi Group was awarded the 99-year leasehold site after submitting a top bid of $1.28 billion ($1,350 psf per plot ratio) in June last year.
Based on URA caveats, only three landed houses along Green Lane have changed hands in the past six years. The latest was a freehold inter-terrace house at 4B Green Lane which was sold for $2.25 million, translating to a land rate of $1,124 psf, in September 2019.
A semi-detached house at 10B Green Lane was sold for $6.8 million in June 2018, which translates to a land rate of $2,026 psf. Another semi-detached house at 7 Green Lane was also sold for $6.8 million in May 2017, or a land rate of $1,664 psf.
At the adjacent Sandy Lane, a freehold terraced house at 3D Sandy Lane was sold for $2.6 million in March 2020, translating to $1,313 psf on the land area.
Check out the latest listings near Tanjong Katong Road, Green Lane, Pebble Lane, Gray Lane, Sandy Lane, The Continuum, Tembusu Grand, Paya Lebar MRT Interchange, Dakota MRT Station, Haig Girls School, Kong Hwa School, Tanjong Katong Primary School, CHIJ (Katong) Primary, Geylang Methodist School (Primary), Maha Bodhi School, Tao Nan School