A two-storey conservation bungalow along Mountbatten Road is on the market for $54.5 million, according to the marketing agent Knight Frank.

The freehold heritage property in District 15 sits on a 32,052 sq ft corner plot along Mountbatten Road and Crescent Road. The guide price translates to a land rate of $1,700 psf.

“Very rarely does such a unique property owned by the same family for nearly a century become available for sale,” says Mary Sai, executive director, capital markets, Knight Frank Singapore. She adds: “This conservation bungalow, which is incredibly well maintained and situated on a large plot size, is a trophy asset in the much-coveted East Coast area”.

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The property is situated a 9-minute walk from Tanjong Katong MRT Station, providing access to the Thompson-East Coast Line. It sits within 1km of Tanjong Katong Primary School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School.

Due to the size of the estate and double road frontage there are three gates that facilitate entry, two along Mountbatten Road and one along Crescent Road. Originally built in 1851, the façade of the property reflects Colonial, Victorian and Art Deco architectural styles.

The seven-bedroom bungalow also comprises a family room, living hall, formal dining space, staff quarters, and a garage. It also has an outdoor tea garden, a koi pond, and a nursery. According to Knight Frank, new extensions to the property are possible, subject to approval.

“This property is not only rich in historic value, but it’s intrinsic aesthetic appeal is like fine art; a once-in-a-lifetime opportunity for a sophisticated buyer to add an extraordinary property to their portfolio,” says Nicholas Keong, head of residential and private office at Knight Frank Singapore.

Based resale data, the last transacted bungalow in the area was 759 Mountbatten Road which fetched $29 million (1,391 psf) when it was sold in April 2022. Knight Frank research notes that the median price of freehold landed properties in District 15 has grown from $1,764 psf in 1Q2022 to $2,094 psf in 4Q2023.

The tender for the sale closes on April 2.