A 999-year leasehold residential site at 48 Hillside Drive has actually been offered with an overview price of $18 million or about $855 per sq ft (psf) on the website location, disclosed single advertising and marketing representative Edmund Tie.
Situated within the mature Kovan estate, the 1,955.2 sq m (21,046 sq ft) site is zoned for domestic use under the 2019 Master Plan with a story ratio of 1.4 and also is held by a single owner.
The advertising representative noted that the home is excellent as a grand residence of a high-net-worth person or a multi-generational family member. It can likewise be redeveloped right into various landed real estate kinds or as a boutique household advancement with approximately 27 house units balancing 100 sq m.
Just a stone’s throw out to both Kovan MRT as well as Serangoon MRT Interchange, the residential property is accessible by means of significant roads and expressways such as the Upper Serangoon Roadway, Yio Chu Kang Road, Ushift, and Central Expressway.
It is also near dining establishments and also grocery stores at NEX, Heartland Mall, Chomp Food Centre, and also MyVillage. Educational institutions such as Rosyth Institution, Zhonghua Primary School, International French College, and also Australian International Institution are likewise nearby.
” With an affordable bite-sized quantum, and also numerous redevelopment possibilities for the well-located site, the building will interest a variety of prospective purchasers,” claimed Swee Shou Fern, Exec Director of Financial Investment Advisory at Edmund Tie.
” Besides residential programmers that will certainly be keen to partition the site into several landed homes or redevelop into a boutique apartment advancement, we likewise expect interest from high-net-worth as well as multi-generational households aiming to purchase for their own stay.”
With huge single-owner redevelopment plots securely held, she thinks the home “may perhaps be the last readily available story offer for sale along Hill Drive”.
The tender for 48 Hill Drive closes on 23 March.