A freehold residential land parcel located off Dunearn Road and Shelford Road in District 11 is up for sale by private treaty with a guide price of $55 million, or $2,274 psf on the land area of about 24,189 sq ft. PropNex has been appointed to oversee the sale.

The property, owned by the Ong family that founded the Green Bus Company, was previously launched for sale in July with an asking price of $60 million ($2,480 psf). The family has held the property for over seven decades. The elevated site has a gently sloping driveway from the main road leading to the existing residence on the property, which was built in 1953. It features a main two-storey residence and a single-storey annexe, along with a car garage and covered car porch.

The site is zoned for three-storey mixed landed housing use. Henry Benjamin Lim, associate branch district director and head of GCB and prestige landed at PropNex, says that the site could potentially be redeveloped into landed housing of up to 4.5 storeys, including a basement level. “Its rare, regular land shape also enables highly efficient subdivision planning,’ he adds.

Read also: Bukit Timah bungalow owned by Green Bus Co's Ong family sold for $55 mil

According to PropNex, the land parcel could accommodate a range of configurations, including four detached homes, a mix of detached and semi-detached units, or up to ten landed homes comprising semi-detached and terrace houses, subject to regulatory approval.

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