The property at 29A Jalan Hajijah (Picture: Savills Singapore)
SINGAPORE (EDGEPROP) - A freehold residential side at 29A Jalan Hajijah, off Upper East Coast Road in District 16, is up for sale via an expression of interest exercise at a guide price of $15.25 million, or $1,298 psf on the land area.
The site measures 11,746 sq ft and is located at the cul-de-sac of Jalan Hajijah. According to marketing agent Savills Singapore, the site has an average plot depth of approximately 25m and an average plot width of approximately 32m, allowing maximum design efficiency after a driveway.
The freehold site is zoned for residential use with a plot ratio of 1.4 under the URA 2019 Master Plan. Savills notes that the site can be redeveloped into a bungalow or a boutique apartment with up to 15 units, subject to planning approval from authorities.
“This is a rare offering for both end-users and developers to acquire a sizeable freehold cul-de-sac residential plot within an affluent district,” says Sophia Lim, associate director of investment sales and capital markets at Savills Singapore.
“The underlying demand for landed homes remains relatively strong in District 16, as many high-net-worth individuals and families are on the prowl for well-located landed properties given the positive long-term outlook for this asset class,” she adds.
The property is 600m away from the Siglap MRT Station and the Bayshore MRT Station on the Thomson-East Coast Line, which is slated to open by 2024. The East Coast Park (ECP) Expressway is also conveniently accessible.
Nearby amenities include East Coast Park and eateries at East Coast Lagoon Food Village and East Coast Seafood Centre. The property is also located near reputable educational institutions like Victoria Junior College, Victoria School, Temasek Junior College and Temasek Secondary School, all within 2km of the site.
The expression of interest exercise for the property will close on Nov 1 at 3pm.