Strata house on Barker Road up for mortgagee sale at $3.18 mil

A strata-titled, semi-detached house will be put up for auction by Edmund Tie & Co (ET&Co) on Aug 29. The freehold, three-storey house with basement is one of eight houses that make up the Barker Ville development, completed in 2010. The property has a total floor area of 3,864 sq ft and will be sold in a mortgagee sale with a guide price of $3.18 million, or about $822 psf on the floor area.

This will be the third time the property is scheduled for auction with ET&Co. It first went under the hammer in May.

The unit has five en-suite bedrooms and is served by a lift with access to all floors. The basement houses an en-suite guest room, two store rooms, a household shelter and two private car park lots. The first floor comprises living and dining areas, a powder room, as well as a kitchen with a yard. It also has direct access to the lap pool. The master bedroom is on the second floor, along with the second bedroom, and two more bedrooms are on the third floor.

The house has been vacant for more than a year, and some renovation works are required because of natural wear and tear, says Joy Tan, head of auction and sales at ET&Co.

The maintenance fee for each strata unit at Barker Ville is about $1,000 a month, which is “a little on the high side”. Tan explains that this is due to the mechanised car park and the small number of units in the development.

This property is ideal for homebuyers looking to start a family because the development is close to many notable schools in the area, says Tan. Barker Ville is located on Barker Road in prime District 11. It is just beside Anglo-Chinese School (Barker Road) and Anglo-Chinese School (Primary). Other nearby schools include Singapore Chinese Girls’ School, St Joseph’s Institution and Catholic Junior College.

Other interested homebuyers could be cash-rich en bloc beneficiaries in the area who want to continue to stay in a familiar neighbourhood, says Tan. For instance, privatised HUDC estate Chancery Court on nearby Dunearn Road was sold en bloc for $401.8 million ($1,610 psf) in May. The residential owners are expected to walk away with proceeds of $1.8 million to $3.5 million.

As the Barker Ville house has a freehold tenure, the property can be passed down to future generations and is an attractive asset for investors looking for capital appreciation, says Tan.