SINGAPORE (EDGEPROP) - In the Raffles Park landed housing estate, a detached house at a cul-de-sac on Linden Drive has changed hands for $24 million. Based on the freehold site of 11,314 sq ft, this translates to $2,121 psf. Lawrence See and Elvin Ang of GCB Collective, a team of bungalow specialists in Huttons Asia, brokered the sale.

A year ago, the detached house was on the market for $27 million ($2,386 psf).

The Japanese garden of the detached house at Linden Drive (Photo: GCB Collective/Huttons Asia)

The previous owner had purchased the property for $13.6 million in 2012 and then built a new 10,358 sq ft, six-bedroom, detached house on the site. The property received its temporary occupation permit (TOP) in early 2019.

While the architecture of the main house is Victorian, the double-storey pavilion in the rear is tropical in style, and the property features a Japanese zen garden.

The buyer, a Chinese national-turned-Singapore citizen, will likely retain the existing structure as the house is still new, says See. “That’s what the buyer wanted — something he didn’t need to rebuild,” he adds.

The swimming pool of the detached house at Vanda Crescent (Photo: Albert Chua/EdgeProp Singapore)

Nearby on Vanda Crescent, a 21⁄2-storey detached house also changed hands recently, based on a caveat lodged on March 6. The property has a built-up area of 8,500 sq ft and land area of 9,464 sq ft. Its price tag in July 2022 was $22.3 million, or $2,357 psf based on land area.

The Vanda Crescent property was transacted at $21 million, or $2,219 psf, and brokered by Shelley Han, team director at Shinoken & Hecks and exclusive marketing agent.

According to Han, there were several competing offers for the property. How- ever, only one buyer prevailed. “They are a returning Singaporean family who had lived in China for a few years,” she says. “They felt it was time to come home for their young children’s education and to spend time with their elderly parents.” The previous owner purchased the property in April 2013 for $12.8 million and subsequently collaborated with architect Adrian Goh of RG Architects to design the family home.

One of the landscaped gardens of the house which sits on a freehold site of 9,464 sq ft (Photo: Albert Chua/EdgeProp Singapore)

The house at Vanda Crescent has two wings, a swimming pool in the middle, and courtyard gardens to the sides. The first level contains the living and dining area, an open kitchen, an enclosed, fully-equipped gourmet kitchen, and a guest room.

Including the master bedroom suite, the second level has five en suite bedrooms. There is another room in the attic. The basement has a lounge for entertaining and an underwater view of the pool. There is also a wine cellar for up to 5,000 bottles in the basement.

“It’s a nice modern house with a good layout, and the new owner would not have to do any major renovations,” says Han. Another draw is its proximity to prestigious schools such as Raffles Girls’ Primary School (within a 1km range), Nanyang Girls’ High School, National Junior College, Chinese High School and Hwa Chong Institution.

Linden Drive and Vanda Crescent are part of a private landed housing area off Bukit Timah Road in prime District 11 (Source: EdgeProp Inspector)

According to Han, many property viewers were mainland Chinese nationals-turned-Singapore citizens. “The Bukit Timah area is sought after,” she observes.

Check out the latest listings near Linden Drive, Raffles Park, Vanda Crescent, Bukit Timah, Raffles Girls’ Primary School, Nanyang Girls’ High School, National Junior College, Chinese High School, Hwa Chong Institution

SINGAPORE (EDGEPROP) - Fanny Cheng, director of niche developer Victory Land, bought a freehold site of 9,873 sq ft at 1C Evelyn Road in March 2021 for $18.25 million ($1,849 psf). The former old bungalow on the site will be redeveloped into a new 16-storey condominium block called Enchanté. The new boutique, freehold development is Victory Land’s maiden condominium project. 

Read also: Freehold residential project at Evelyn Road to launch in January 2022

Designed by Metaphor Design + Architecture, Enchanté has just 25 units. The typical units are three- and four-bedroom apartments, with a sole five-bedroom penthouse. The apartments cater to multi-generational families and long-term investors, says Cheng. 

As the concept for the project was created during the Covid period last year, Cheng had made sure that the units will have enough living space and flexibility for those who need to work from home. “Covid has changed people’s lifestyle,” she says.

Enchanté is accessible via both Newton Road and Dunearn Road in prime District 11. Within 1km are three Anglo-Chinese Schools (Primary, Junior and Barker Road), as well as St Joseph’s Institution (Junior and Secondary). Nearby are Tanglin Club, The American Club, Raffles Town Club and Singapore Polo Club. Orchard Road is just a six-minute drive from Evelyn Road, and the CBD is a 14-minute drive. Meanwhile, the Newton MRT Station is just a five-minute walk from Enchanté.

The living and dining area of the three-bedroom dual-key unit showflat (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Three-bedroom-plus-home-office apartments of 1,001 sq ft make up nine units, while three-bedroom, dual-key apartments of 1,087 sq ft make up another seven units. Another two units are 1,087 sq ft, three-bedroom-plus-home office apartments; and two more are three-bedroom duplexes of 1,270 sq ft. Four-bedroom-plus-home office types of 1,281 sq ft make up another four units, while the five-bedroom penthouse is 1,701 sq ft. 

Construction of the project is scheduled to start in September, and is targeted for completion sometime in 2026. 

There are only two units per floor, and they are designed such that the units could be amalgamated, according to Cheng. Owners of the dual-key units have the option to knock down the wall between the studio and the two-bedroom apartment to create a single three-bedroom unit. Typical units have a ceiling height of 3.15m, while the penthouse has a 4.5m ceiling height. The developer is also providing smart appliances for homeowners, such as smart ovens and washing machines. 

Doris Ong, deputy CEO of ERA Singapore, reckons Enchanté will appeal to those who want privacy. “This project has its own niche, given its accessibility to Orchard Road, the CBD,  schools and the medical hub at Novena, with Thomson Medical Centre and Mount Alvernia Hospital located nearby too.” 

The dual-key, three-bedroom units will appeal to those who are buying for their own use, and who want the option of renting out either the studio or the two-bedroom unit, according to Ong. “Regardless of the size, you’re paying additional buyer’s stamp duty for just one unit when it comes to buying a dual-key apartment,” she explains.  

Artist's impression of the multi-function room and alfresco dining area at the second level (Picture: Victory Land)

Residents’ amenities are spread out across alternate floors, from the second to 14th floors. These floors have a double-volume ceiling height of 7m, says Victory Land’s Cheng. 

On the second floor, amenities include alfresco dining, a multi-purpose room, a gym and a 12.5m swimming pool. On the fourth floor is a play area, while the eighth floor is a herb garden. For those who want an alternative to working from their apartment, there is a landscaped garden with WiFi on the 10th floor. On the 12th floor is The Vantage Point, with landscaped garden and water features, as well as a viewing deck for residents to enjoy unblocked city views, adds Cheng. 

“Despite the land size of under 10,000 sq ft, the developer has cleverly created communal facilities at landscaped terraces on alternate floors,” says Dominic Lee, head of luxury team at PropNex. “Besides communal spaces, the units are well-designed in terms of layout.” 

Enchanté was soft-launched on the weekend of July 23-24, with the official launch scheduled for early September — after the Hungry Ghost Month (from July 29 to Aug 26), says Cheng. The units are priced at an average of $2,700 to $2,800 psf, she estimates. Three-bedroom apartments range from $2.7 million to $3.2 million, while four-bedroom apartments start from $3.5 million. 

According to PropNex’s Lee, the pricing of units at Enchanté is “reasonable”, given that it’s a freehold project located in prime District 11 and within the catchment area of popular schools such as Anglo-Chinese and St Joseph’s. 

After all, Amo Residence at Ang Mo Kio Avenue 1 saw 359 out of 372 units sold over the weekend of July 23-24 at an average price of $2,106 psf, according to caveats lodged. The 99-year leasehold development is a suburban condominium in the Outside Central Region in District 20. It is within a 1km range of popular schools such as Ai Tong School and St Nicholas Girls’ School, as well as 400m from the Mayflower MRT Station. 

Amo Residence even saw prices hit a high of $2,406 psf when the biggest penthouse in the development, a 2,497 sq ft, five-bedroom unit, fetched $6.008 million at the VIP preview in the lead-up to the launch. Meanwhile, the starting price of Enchanté is upwards of $2,400 psf, Prop-Nex’s Lee points out.

Artist’s impression of the entrance into Enchanté (Picture: Victory Land)

Directly opposite Enchanté is another boutique development, 10 Evelyn by Amara Holdings. The 56-unit, five-storey, freehold project has a mix of one- to three-bedroom apartments, with sizes ranging from 527 sq ft to three-bedroom duplex penthouses of 1,432 q ft. Launched in January 2019, about 14 units have been sold at an average of $2,510 psf, based on caveats lodged. 

“The Evelyn Road neighbourhood is relatively exclusive, quiet, with mainly boutique non-landed developments and private houses,” notes ERA’s Ong. 

Cheng of Victory Land is familiar with the private residential enclave of Evelyn Road-Gilstead Road-Buckley Road, located just off Newton Road and Dunearn Road. After all, she was involved in the development of 35 Gilstead, a boutique condominium project with just 70 units located on Gilstead Road. The project is by Amcorp Global (former Tee Land), where Cheng was last assistant general manager of property development, before she left in 2018. She had spent 15 years with Tee Land. 

Cheng is therefore keen on building up Victory Land’s portfolio, and is already actively looking for more development sites. She intends to focus on 999-year leasehold or freehold sites in the prime districts of 9, 10 and 11. Outside of these prime neighbourhoods, she is open to options in the East Coast (District 15) and in the Bartley area of District 19. 

Cheng wants to stick to what she knows best:  boutique developments ranging from 25 to 100 units, she says. 

Check out the latest listings near Enchanté, Amo Residence, Evelyn Road, Orchard Road, Newton MRT Station, Mayflower MRT Station, Anglo-Chinese School, St Joseph’s Institution, Ai Tong School

The exterior of the three-storey, six-bedroom bungalow that was built in 2014 (Credit exterior shot to: K2LD/Patrick Bingham Hall)

SINGAPORE (EDGEPROP) - In the private landed housing enclave of the Bukit Timah/Dunearn Road area, there is a cluster of eight bungalows at Jalan Bahasa, a quiet road just off University Road and Chee Hoon Avenue. These eight detached houses sit on a plot of land where Hill Park, a development with 26 double-storey townhouses, once stood. It was built in 1977 by the former Trade and Industrial Development (now TID). 

Read also: Relic hunter’s Good Class Bungalow for sale at $63 mil

Hill Park was the maiden residential project by TID, a joint venture established in 1972 by Hong Leong Holdings and Japanese developer Mitsui Fudosan. Hill Park was demolished in December 2008, according to EdgeProp Inspector, with written permission granted in June 2012 for the land to be subdivided into nine plots, with each plot to be developed into a detached house. 

“It provided a rare opportunity for owners who wanted to develop their own dream bungalow,” says Stephen Ho, vice president of residential services at CBRE Singapore. 

One of the buyers of the land plots was a couple who purchased, not just one, but two, adjacent sites and amalgamated them to create a larger plot of 10,682 sq ft. Written permission was obtained in October 2013 for the land to be developed into a two-storey detached house with a basement and a swimming pool. 

The couple purchased two adjacent sites and amalgamated them to create a larger plot of 10,682 sq ft and commissioned K2LD to design their new 8,531 sq ft, six-bedroom house (Credit: K2LD/Patrick Bingham Hall)

Before moving to Singapore, the owners had lived in Hong Kong, London and Tokyo. While they had purchased houses in each of those cities, “it always felt like a compromise because we were buying someone else’s house”, says the owner. “What was really nice about the sites here was that we had a blank canvas.” 

The couple engaged award-winning, Singapore-based architectural firm K2LD to design their new home. K2LD was also the architect for three other bungalows at Jalan Bahasa located behind the couple’s property. The three houses are also part of the eight detached houses that were built on the former Hill Park townhouses site.  

However, the two plots purchased by the couple “have the best views”, says Charlotte Wong, senior associate of K2LD. The site sits at the top of a hillslope, which was partially excavated to create the basement level of the house, she adds. 

The entire process from design to completion of the house took about two years, according to the owners, and they moved in sometime in November 2014. “The house has three levels and is designed for those who value privacy,” says K2LD’s Wong. There is a row of Bucida trees that are both ornamental and act as a privacy screen to shield the house from the view of passers-by.

The basement level contains the covered garage and driveway that can park five cars. Even though it is considered the basement, it is in fact at street level, says CBRE’s Ho.

The central courtyard garden that is visible from all parts of the house, and from every level of the house (Photo: Samuel Isaac Chua/EdgeProp Singapore)

The central feature in the basement is the courtyard garden, accessible via glass sliding doors from three sides of the house. The courtyard garden is visible from every part of the house, including the upper floors. “We stressed to K2LD that privacy was very important to us,” says the owner. “Our kids are grown up now, but when they were young, they used to love playing in the courtyard garden undisturbed.” 

At the basement are two guest rooms — one with a double bed and the other a twin bed — with a shared bathroom. It was designed to accommodate visiting family members or friends. “They can have their privacy and their own space, as this part of the house in the basement opens out to the courtyard garden as well,” says the owner. 

The basement was also designed as the recreational area, with a music room, where the children had music lessons when they were young; a home theatre with sliding doors that can be closed off for privacy; a wine cellar; a gym with a view of the courtyard garden; and an attached Japanese onsen-style bathroom and steam room. The helpers’ quarters and utility area are also situated at the basement level. There is also plenty of concealed storage space at this level.  

According to CBRE’s Ho, the basement also functions as an indoor-outdoor entertainment area, especially if all the glass doors leading to the courtyard are open. 

The living room with glass sliding doors opening out to the swimming pool and the pool deck (Photo: Samuel Isaac Chua/EdgeProp Singapore)

The first level of the house is the family area. There is a dining room, with sliding glass doors opening out to a landscaped deck. Adjacent to the dining room is the dry and wet kitchen. Next to the dining room is the living room, with sliding glass doors on two sides leading out to the swimming pool and the pool deck. “The swimming pool is shielded by trees for privacy, and as it’s elevated, you have a view of the treetops and the rooftops — it’s like living in a high-rise,” says K2LD’s Wong.  

The house was designed in the contemporary tropical style with full-height glass sliding doors that have UV protection and low-E glazing that can be opened to allow cross-ventilation. Louvres and screens shield the interior of the house from the heat and provide privacy too. “In fact, we leave the windows open all day until late afternoon,” says the owner. “On a clear night, the sunset is really nice, and I like it when there’s a rainstorm too.” 

Located just off the living and dining area is the library, which doubled as a study area for the children when they were younger. The owner has a dedicated home office just off the library, while his wife has her own office on the other end of the library. 

“Nobody would have envisaged that we would be working from home,” says the owner. “But that’s worked out quite well for us. It’s nice to have fresh air while working from home. I like looking at the trees and having the light come in. But in the evenings, when we want privacy, we can put the blinds down.” 

During the lockdown last year, the recreational area in the basement was well-used. “We have the PlayStation, the AV room, the onsen, steam room and the gym down there, so it wasn’t so bad,” he adds. 

The swimming pool and deck outside the living room with the yoga deck on the second level (Photo: Samuel Isaac Chua/EdgeProp Singapore)

The second level of the house has a powder room, as well as four en suite bedrooms, including the master bedroom. The children’s bedrooms are identical in size and are a mirror image of each other, with their own dressing area and en suite bathroom. The master suite has a generous walk-in wardrobe and master bathroom. The master bedroom opens out to a yoga deck that is also heavily landscaped for privacy. 

Even though the house was completed seven years ago, it is ideal for current times, says K2LD’s Wong. “Unlike a lot of contemporary bungalows that typically have an open plan, this house works well as the spaces are connected, yet separate,” she adds. “So you have the flexibility of enjoying your privacy or joining the rest of the family members in the communal areas.” 

The house has been well-maintained over the years and still looks relatively new. For ease of maintenance, the flooring on the basement level is of ceramic tiles. However, the upper floors have timber flooring made from American walnut. Even the wall panels, staircase and doors are of American walnut. 

No expense was spared when it came to the materials used for the house. For instance, the exterior of the house is clad with granite stone. The master bathroom is of Crème Marfil marble tiles from Spain, while the freestanding bathtub is from the UK bespoke brand Claybrook. The feature sink in the onsen-style bathroom is carved out of a single block of solid granite, while the walls are of yellow rustic granite in natural split finish. 

“We felt really comfortable with K2LD as they understood the Japanese high standards and attention to detail when it comes to construction,” says the owner. 

The dining room and dry kitchen on the first level of the house (Photo: Samuel Isaac Chua/EdgeProp Singapore)

The owners are now looking to sell the property, with CBRE’s Ho as the marketing agent. “We would love to stay here, but from next September, both our children will be in university in Europe, so we want to be closer to them. It’s a shame to have to sell it, because this house is literally everything we wanted,” says the owner.

Even though the property is for sale, the owners continue to maintain it. For instance, they are re-varnishing the timber flooring in the living room, the dining area and the library. “We have maintenance work done on a regular basis,” says the owner. “For us, we want it to be perfect. We are not going to let the house deteriorate just because we are selling it.” 

The three-storey house has a built-up area of about 8,531 sq ft, and six bedrooms. The asking price is $27 million, or $2,528 psf based on the freehold land area of 10,682 sq ft. 

“This property will appeal to a home buyer who wants a house that is in move-in condition,” says CBRE’s Ho. “The new owner would not need to undertake any major additions or alterations. Especially with the shortage of labour and the higher cost of construction in the Covid era, building a new house is becoming ever more expensive.”

K2LD’s Wong reckons construction costs of bungalows have increased about 20% over the past year, due to disruption in the global supply chain as well as difficulty in finding skilled labour.  

As the swimming pool is elevated, it has a view of the rooftops of the houses and treetops (Photo: Samuel Isaac Chua/EdgeProp Singapore)

A couple of streets away, a bungalow sitting on a freehold site of 13,906 sq ft on Chee Hoon Avenue changed hands for $25.5 million ($1,834 psf), according to a caveat lodged with URA Realis. However, the house on the site is a single-storey bungalow built in 1958, and the new owner is likely to tear down and rebuild it. Hence, the $1,834 psf reflects the price of the land alone, notes Ho.  

CBRE’s Ho points to another transaction in prime District 11 which is of comparable age to the one at Jalan Bahasa. It is for a bungalow sitting on a freehold land area of 10,529 sq ft on Lornie Road in Caldecott Hill Estate. The property changed hands for $26.8 million ($2,545 psf), according to a caveat lodged at the end of September. The previous owner who purchased it in 2014 for $13.68 million ($1,299 psf) had obtained written permit for the property to be redeveloped into a new double-storey detached house with a basement and attic, back in June 2015, according to EdgeProp Inspector. 

“The transacted price of the bungalow on Lornie Road is in line with the asking price of the property at Jalan Bahasa,” says Ho. “The property at Jalan Bahasa is ideal for a multi-generational family, and the spaces are flexible enough to be converted for alternative uses.” The bungalow is available for sale by private treaty.  

Check out the latest listings near Jalan Bahasa, Hill Park, Lornie Road

Watten Estate Condominium could potentially be redeveloped into a new 286 unit new residential project based on the minimum average size of 100 sqm or f 1,074 sq ft (Photo: Samuel Isaac Chua/EdgeProp Singapore)

SINGAPORE (EDGEPROP) - A joint venture between UOL Group and Singapore Land Group has emerged as the buyer of Watten Estate Condominium located on Shelford Road in the prime Bukit Timah area. They won the site with a bid of  $550.8 million. 

Built in 1983, Watten Estate Condominium has 104 units, comprising townhouses and apartments. It sits on an elevated freehold site measuring 220,241 sq ft zoned for residential use with a gross plot ratio of 1.4 under the Urban Redevelopment Authority’ 2019 Master Plan. The site could potentially be redeveloped into a new condominium with 286 units based on the minimum average size of 100 sqm (1,076.4 sq ft). 

As the site is located amid a predominantly low-rise, landed housing estate, the new units in the proposed development could potentially enjoy unblocked views of the surrounding greenery, says JLL's Tan. “A popular District 11 address, Watten Estate Condominium is located within 1km of two sought-after primary schools, namely Nanyang and the Raffles Girls’,” he adds.

The condo was first put up for en bloc sale in July 2019 at a price of $536 million. (See potential condos with en bloc calculator)

In September, the condo was put up again for collective sale via tender with a minimum price of $500 million.

The $550.8 million bid was accepted by the members of the sale committee on Oct 27. At this bid price, the owners could expect to receive gross sales proceeds of between $3.1 million and $6.5 million per unit, adds Tan.

At the bid price of $550.8 million, the owners could expect to receive gross sales proceeds of between $3.1 million and $6.5 million per unit (Photo: JLL)

Over 80%  the owners have consented to the sale, which is subject to several conditions being met, including an order of sale by the Strata Titles Board or the court, where applicable.

Of the total consideration, 5% (including the tender fee) will be paid within seven business days from the award of the tender. Another 5% will be paid within seven business days from the notice of receipt of sale approval, while the remaining 90% will be paid upon legal completion.

According to UOL Group and Singapore Land Group, the consideration will be financed primarily from bank borrowings and internal resources.

Source: EdgeProp Inspector

The 80:20 joint venture company, named United Venture Development (No. 4) or UVD4, is formed by UOL Venture Investments, a wholly-owned subsidiary of UOL Group and Singland Residential Development, a wholly-owned subsidiary of Singapore Land Group.

Under the JV, UOL Venture has 40 ordinary shares at $1 apiece, representing an 80% interest, while Singapore Land Group is interested in 10 ordinary shares, or a 20% interest in the JV.

The JV was incorporated in Singapore on Dec 3, 2012.

In connection with the acquisition, both companies will enter into an agreement to formalise the terms of the JV.

The agreement will see that each shareholder will be entitled to nominate directors to UVD4’s board. The parties will also undertake to provide sufficient funds to enable the completion of the acquisition.

The JV is considered an interested person transaction, under the terms set out in the SGX listing manual.

Wee Cho Yaw is the chairman, director and controlling shareholder of SingLand and UOL. Wee Ee Lim, who is the son of Wee Cho Yaw, is a director of SingLand and the deputy chairman and a director of UOL. Liam Wee Sin is a director of SingLand and UOL and the group CEO of UOL.

The total value of all transactions year-to-date for the current FY entered into with UOL is approximately $382.1 million.

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Check out the latest listings near Watten Estate Condominium, 36 Shelford Road