A freehold residential side at 29A Jalan Hajijah is on the market for $15.25 million
Read more: Property at 18 Mount Elizabeth on the market for $170 mil
A freehold residential section located at 29A Jalan Hajijah, situated off Upper East Coast Road in District 16, is available to sale via the expression of interest process at the amount of $15.25 million which is $1,298 per sq ft on the land.
The site is 11,746 square feet and is situated in the end of a cul-de-sac in Jalan Hajijah. According to the marketing agency Savills Singapore the site is located at an average depth for plots of 25m, and an average plot width of around 32m, which allows for maximum effectiveness in design after the driveway.
This freehold site is designated for residential use and has an area ratio of 1.4 according to the URA 2019 Master Plan. Savills says that the site could be transformed to create a bungalow or boutique apartment that can accommodate as many as 15 apartments subject to approval for planning from the authorities.
“This is an opportunity that is not often available for both the end-user and developers to buy a substantial freehold cul-de-sac in an area that is wealthy,” says Sophia Lim as director of capital markets and investment sales in Savills Singapore.
“The fundamental demand for homes that are landed remains fairly robust within District 16 and numerous families and individuals with high net worth are searching for good-located landed properties due to the favorable long-term prospects for this class of property,” she adds.
The property is situated just 600m from Siglap MRT Station and the Bayshore MRT Station on the Thomson-East Coast Line, which is set to be operational in 2024. Its East Coast Park (ECP) Expressway is also accessible.
Nearby facilities are East Coast Park and eateries at East Coast Lagoon Food Village and East Coast Seafood Centre. The property is located close to the top educational institutions, such as Victoria Junior College, Victoria School, Temasek Junior College and Temasek Secondary School, all within 2km of the site.
The exercise to express interest for the property will end on November 1 at 3 pm.