UNDER THE HAMMER: Inter-terrace in Joo Chiat going for $3.38 mil

/ EdgeProp
September 23, 2018 11:00 AM SGT
The property up for auction is in a neighbourhood of low-rise development and Peranakan shophouses (Credit: Knight Frank)
A three-storey intermediate terraced unit at 146 Langsat Road, in the Joo Chiat area, was put up for auction on Sept 19 by Knight Frank Singapore at an opening price of $3.38 million ($1,904 psf). The property received two offers close to what the owner asked for, says Sharon Lee — senior director and head of auction and sales at Knight Frank — who is marketing the property. This is the second time the house came under the hammer.
The sale has yet to go through at publishing time. Lee hopes the house will be sold, failing which it will be put up for sale via private treaty.
The freehold property, off Changi Road, occupies 1,775 sq ft of land. It is in “new” condition as no one has moved in before, says Lee. The property received the Certificate of Statutory Completion in 2013, but was left vacant for five years. The owner initally engaged a contractor to build the house for his own stay, but later decided to reside at his alternative residence in Bukit Timah.
At the previous auction on June 19, it had an opening price of $3.5 million ($1,972 psf), but was withdrawn as there were no bids.
The house has an air-well across all three floors (Credit: Knight Frank)
The house is well lit although it is an intermediate terraced unit, says Lee. There is an air-well that extends from the bottom floor to the top, allowing natural light in, she adds. It was also built to face northsouth to block the harshest sunrays. The car porch fits two cars.
Altogether, there are five bedrooms: a guest room on the first floor; a master bedroom and junior suite on the second floor; and the remaining two bedrooms on the third floor. Both bedrooms on the second floor have a balcony. All the bedrooms have timber flooring, while the kitchen, living and dining areas have marble flooring.
Located in District 15, the house is a 10-minute walk from Eunos MRT station. It is set within a neighbourhood of landed houses, low-rise apartment blocks and Peranakan shophouses. Lee estimates that potential owners would be able to collect rents of $6,500 to $7,000 a month.
So far, those who have enquired about the property are interested in buying it for their own stay. Some of them have requested for a lift to be built in the house, Lee says.
Correction: Sept 24, 2018 An article on Sept 23 incorrectly stated the land area of 146 Langsat Road as 3,935 sq ft, which is the built-up area. The property occupies 1,775 sq ft of land.
The psf price of the property has also been updated to reflect the land area. It was previously based on the built-up area of 3,935 sq ft.