[UPDATE] La Salle Street bungalow for sale at $22 mil

SINGAPORE (EDGEPROP) - A freehold bungalow at 22 La Salle Street, off Frankel Avenue in District 15, is on the market with an asking price of $22 million, or $1,991 psf on the land area.

The house sits on an 11,050 sq ft site. It is on an elevated plot, which allows the upper levels of the house to have unobstructed views of its surroundings. Based on caveats lodged, the owners purchased the property in May 2007 for $7.72 million ($699 psf).

The owners tore down the original house on the site — a two-storey detached house built in the early 2000s — to build a new two-storey bungalow with a basement and attic. Completed in 2015, it has a built-up area of 19,000 sq ft. The house was designed by Khairudin Saharom, principal and director of Kite Studio Architecture, who is on URA’s “20 under 45” list of emerging architects. The house has six en suite bedrooms, including a master suite on the attic floor. It also has a private cinema, multiple family areas, helpers’ quarters, a lift and a car porch that can fit eight cars.

"Given the house's recent completion and contemporary design, the future owner needs to do minimal work before moving in," says Tan Hong Boon, executive director of JLL Capital Markets. The new owner would therefore save on renovation costs and be able to move in more quickly. “Building a new house of such a size will be very costly at today's construction costs and can easily take more than a year or even a couple of years to complete, during which time you may need to pay for alternative housing,” he adds.

22 La Salle Street sits within Frankel Estate, a private landed housing enclave within the prime Siglap area in District 15. Recent transactions in the estate have been of detached homes sitting on smaller plots of less than 10,000 sq ft. In March, a detached house on Ettrick Terrace with a land area of 4,068 sq ft was sold for $6.9 million ($1,696 psf). Last December, a detached house on a 4,461 sq ft site along Frankel Street fetched $8.5 million, or $1,906 psf. The same month, a bungalow at Siglap View with a land area of 7,945 sq ft was sold for $13.94 million ($1,754 psf).

The last transaction of a detached house with a land area of over 10,000 sq ft in Frankel Estate was in September 2021. The home on Siglap Road was sold for $10.5 million ($872 psf) based on the 12,046 sq ft land area. In August 2021, a detached house on Siglap Bank with a land area of 11,186 sq ft fetched $12.3 million ($1,100 psf). The house on Siglap Road was built in 1999, while the one on Siglap Bank was completed in 1973. Brilliance Capital’s founder and executive director Sammi Lim says the properties will likely be redeveloped into new homes, adding that the transacted psf prices reflect just the land price.

Meanwhile, Lim says the La Salle Street property will appeal to owner-occupiers who want a multi-generational home. “This home is also ideal for families who are already residing in the East but are looking to upgrade into a bigger home with larger land in the same vicinity,” she adds.