Freehold semi-detached house at Lilac Road on the block for $3.98 mil

By
/ EdgeProp Singapore
|
April 1, 2021 9:01 AM SGT
SINGAPORE (EDGEPROP) - The owner of a freehold semi-detached house at Lilac Road, off Nim Road in District 28, is selling the property for $3.98 million. The house will be offered at Edmund Tie’s upcoming auction on April 28 and it will be the first time the property will be sold through an auction.
The two-storey property features a car porch that can fit two cars and the ground floor of the house includes a guest bedroom, a living area, and a dining room that extends onto the rear porch. The second floor comprises a master bedroom with ensuite bathroom, two bedrooms, and a common bathroom.
lilac - EDGEPROP SINGAPORE
The freehold house could be redeveloped into a new 3½-storey home. (Picture: Edmund Tie)
The property for sale is in a three-storey mixed landed housing estate within Seletar Hills which comprises low density landed housing estates. The area’s connectivity is primarily served by the Central Expressway and major roads such as Ang Mo Kio Avenue 5 and Yio Chu Kang Road.
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Nearby amenities include Seletar Mall, Greenwich V, and Ang Mo Kio Hub. The house is also within 2km of Rosyth School, Jing Shan Primary School, Fernvale Primary School, and Sengkang Green Primary School. Nearby educational institutes include Anderson Serangoon Junior College, Nanyang Polytechnic and ITE College Central.
The semi-detached house sits on a land area of 4,173 sq ft and the guide price translates to $954 psf on the land area. The house has a built-up area of approximately 2,800 sq ft.
Recent resale transactions - EDGEPROP SINGAPORE
According to Joy Tan, head of auction & sales at Edmund Tie, the current guide price based on the land area is “very reasonable” given recent transactions in the area. “Recent resale transactions in the area show that most properties have changed hands for more than $1,100 psf,” says Tan.
Based on URA caveats, a freehold terrace house at 11 Lilac Drive was sold for $2.4 million ($1,117 psf) on Nov 6, 2020, while another freehold terrace house at 4 Lilac Walk was sold for $2.5 million ($1,151 psf) on Sept 11, 2020.
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Nearby, a 999-year leasehold semi-detached house at 16A Nim Drive was sold for $4.1 million ($1,726 psf) on July 13, 2020, and the neighbouring semi-detached house at 16 Nim Drive fetched $4.05 million ($1,706 psf) on March 26, 2020.
semi-detached house - EDGEPROP SINGAPORE
The semi-detached house features a spacious rear porch and garden that connects to the indoor dining room. (Picture: Edmund Tie)
“The freehold tenure of the house at Lilac Road makes it an attractive proposition for landed home buyers who are keen to acquire a freehold asset. The subject property is also primed for redevelopment into a 3½-storey property, and it sits on a sizeable land area of 4,731 sq ft with a wide street frontage of about 13m,” says Tan, adding that the house also features a generous outdoor area with a good-sized garden and a spacious porch area suitable for outdoor entertaining.
Given these attributes, Tan expects the property to appeal to homeowners looking for a freehold home for their family, or boutique developers with a keen eye for properties with redevelopment potential.
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