Special Feature
Bungalow on Fifth Avenue priced to sell at $18.8 mil
A two-storey bungalow within the prestigious Fifth Avenue Good Class Bungalow (GCB) neighbourhood is available for sale at a palatable asking price of $18.8 million. The property is being sold by a serious seller who is keen to see the next owner revitalise the site.
Meilinda Soetedjo, group division director at ERA Realty, is the marketing agent.
The bungalow for sale is a rare chance for the new homeowner to enjoy the benefits of living in an exclusive residential neighbourhood, and to design their dream home from the ground up, all without breaking the bank.
Prime Bukit Timah location
The bungalow for sale is in a prime central location within the Bukit Timah area. It takes less than five minutes to walk to the nearby Guthrie House, a landmark commercial development with a variety of F&B, retail shops, and a supermarket that is the mainstay for the residents in the vicinity. In addition, there is a popular local food court and kopitiam along the nearby Sixth Avenue, with a wide variety of cuisines including tasty local and hawker food.
Families with school-going children will find this neighbourhood very appealing, given the proximity to popular schools and the conveinece of an MRT station. (Map: EdgeProp Singapore)
Residents in this area also rely heavily on the Downtown Line (DTL), which extends their public transport connectivity to key areas around Singapore such as Newton, Bugis, Fort Canning, Chinatown, Downtown and Bayfront. The Sixth Avenue MRT Station on the DTL is about an eight-minute walk from the bungalow for sale at Fifth Avenue.
Sixth Avenue Station is one stop away from Tan Kah Kee Station, which is next to Hwa Chong Institution. Families with school-going children will find the bungalow particularly attractive because Nanyang Girls’ High School, National Junior College (Secondary) and National Junior College are within 1km. Other popular schools in the area include Methodist Girls’ School, Henry Park Primary School, Nanyang Primary School and Raffles Girls’ Primary School.
Space to design a dream home
Situated on a hillock along Fifth Avenue, the bungalow sits on a regular-shaped 10,068 sq ft plot. An approximately 30m-long driveway distances the house and forecourt garden from the street, which is perfect for a homeowner who values privacy.
The bungalow was built during the 1970s, and elements of its original charm are still visible. Nevertheless, this opens up a variety of architectural and design choices for the new owner to maximise the shape and attributes of the site.
The plot is regularly shaped, giving the new owner many possibilities in designing their dream home. (Picture: Samuel Isaac Chua/The Edge Singapore)
For example, a spacious forecourt garden links the driveway and front porch of the house. This open-air green space can be redesigned into a bespoke garden and landscaped with a variety of flora. Topped off with a summer house or gazebo, it will become another private space to host guests.
Another key element of the site is the view from one side of the house that overlooks all of the low-rise terraced houses on neighbouring Lotus Avenue, Lasia Avenue, Lemon Avenue and Lily Avenue. According to the master plan, this estate is a two-storey, mixed landed enclave, which helps to protect future views.
If the new owner chooses to redevelop the bungalow on Fifth Avenue into a new higher-floored house, they would be able to enjoy this unblocked view from the higher floors, or a potential rooftop terrace.
Reasonable price for prime landed plot
According to Soetedjo, this bungalow is a rare chance for a buyer to acquire a prime landed plot within a GCB area, but at a reasonable entry-level price point. “Considering the size of the site and the seller’s reasonable price of $18.8 million, we are offering this prime plot at a land rate of $1,867 psf,” she says.
She adds that landed homes along Fifth Avenue are rarely on the market, since most owners are reluctant to part with such trophy homes. According to URA caveats, only two houses along Fifth Avenue have changed hands in the past decade.
There is plenty of potential to capitalise on the site's location on the hillslope, with unblocked views of the surrounding neighbourhood from the upper floors. (Picture: Samuel Isaac Chua/The Edge Singapore)
The most recent transaction was for 15 Fifth Avenue, a 13,508 sq ft bungalow plot that fetched $22 million ($1,629 psf) in August 2021. It was preceded by the sale of a GCB at 32 Fifth Avenue, which sits on a 15,070 sq ft plot, for $24.5 million ($1,626 psf) back in March 2016.
“Over the past three years, the prices of GCBs and bungalows situated in GCB areas have climbed significantly, and most owners have reacted accordingly by raising their price expectations,” says Soetedjo.
The prime landed homes market still experiences a persistently high demand, coupled with a lack of reasonably priced homes that meet the budget of some buyers, she says.
Soetedjo expects the bungalow at Fifth Avenue to quickly catch the eye of eager landed home buyers due to its prime location, and proximity to the amenities and schools in the Bukit Timah area. The palatable asking price also puts it well within the budget of many Singaporeans aspiring to realise their dream of living in a prime landed home, she says.
For more information,
Contact Meilinda Soetedjo | 97601552
Group District Director (R050866J)
ERA REALTY NETWORK PTE LTD
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