Heritage terrace house on Neil Road going for $4.8 mil

SINGAPORE (EDGEPROP) - A two-storey terrace house with attic at 141 Neil Road is up for sale for $4.8 million, which translates to $1,503 psf on the land area. The house will be put up for sale via an expression of interest exercise conducted by Knight Frank Singapore.

The house sits on a land area of about 3,193 sq ft and has a gross floor area of close to 4,813 sq ft. The property will be sold with vacant possession. It is close to Outram Park MRT Station on the East-West Line, and the upcoming Cantonment Station on the Circle Line. The property will also be close to the planned Greater Southern Waterfront.

The property is located in the residential historic district of the Blair Plain Conservation Area in District 2, and it is part of a cluster of two- and three-storey shophouses and residential terrace houses. This cluster of buildings features diverse facades, rich ornamentation, and unique architectural styles. Most house designs are in the early/transitional/late shophouse and art deco styles. The area also has the strictest building conservation guidelines in the district.

“There are buyers who like to acquire conservation houses in their original condition as they can be renovated into aesthetically pleasing dream homes, so long as they fall within URA’s conservation guidelines,” says Mary Sai, executive director of investment and capital markets at Knight Frank Singapore.

“There has been a dearth of such residential heritage houses in the CBD fringe area for sale, as these are likened collector’s gems which are very much sought after. Fully refurbished heritage terrace houses in the Cairnhill vicinity are currently calling for more than $10 million per building, depending on the land and floor areas,” she says, noting that refurbished heritage houses on Blair Road that each sit on 1,500 sq ft plots have asking prices of $5.5 million ($3,666 psf).

The EOI exercise will close on Nov 13.