Pinewood Grove detached house going for $3.75 mil

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/ EdgeProp
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September 16, 2018 8:30 PM SGT
The house features a courtyard at the centre, which lets in natural light and promotes airflow (Credit: Knight Frank Singapore)
A double-storey detached house at 35 Pinewood Grove, in Woodlands, will be put up for auction on Sept 19 by Knight Frank Singapore at a guide price of $3.75 million ($581 psf).
The 99-year leasehold property, in District 25, occupies a 6,458 sq ft site. It will be sold partially furnished and with tenancy, which ends in December. The house has five bedrooms: two on the first level and three on the second level. This is the third time it has been put up for auction. At the last auction in July, it had an opening price of $4.1 million ($635 psf), but was withdrawn as there were no bids.
The house is atypical of Singapore landed homes, says Noelle Tan, auction and sales manager at Knight Frank Singapore, who is marketing the property. The layout is U-shaped and features a courtyard at the centre, which lets in natural light and promotes airflow, she adds. The property was designed by Singaporean architect Richard Ho, who is famous for his design of houses and won the President’s Design Award in 2013.
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The house at 35 Pinewood Grove is part of nine houses built by private boutique developer Davis Pinegrove 22 years ago. Over the years, five of the houses have been sold and four have been leased.
The living room of the house, with the courtyard on the left (Credit: Knight Frank Singapore)
The houses on Pinewood Grove are near Woodgrove Estate, which was developed by Far East Organization more than two decades ago. The houses on Pinewood Grove and in Woodgrove Estate are mainly large detached houses that are popular with expatriate families, given their proximity to the Singapore American School, which relocated to its Woodlands campus in 1996. Amenities in the area include Causeway Point mall and dining outlets at The Woodgrove.
The owner is a “serious seller”, says Sharon Lee, senior director and head of auction and sales at Knight Frank, who is jointly marketing the property with Tan.
The houses on Pinewood Grove developed by Davis Pinegrove have a common theme: an exterior of red terracotta bricks against white walls, with wooden doors and window frames.
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According to Lee, the price of $581 psf for the detached house on Pinewood Grove is considered attractive, as construction of bungalows today typically costs $400 to $500 psf. And that is excluding land cost, she adds.
The house is currently tenanted by a Singaporean family on a two year lease, at $7,500 monthly. So far, 35 Pinewood Grove has largely drawn interest from investors, but the rental yields of houses in the Woodgrove area are not attractive enough, Lee says. She believes the houses should appeal to owner-occupiers “who appreciate the slower pace of life in the area”.