Two adjoining freehold sites on Gentle Road for sale from $30 mil
The two residential sites with freehold tenure located at 43 and 45 Gentle Road in Chancery landed housing enclave of District 11, Singapore are up for sale by tender, as reported by a press statement given by Knight Frank Singapore. The two adjoining sites have an aggregate land area of almost 15,923 sq ft and features a regular configuration with a combined frontage of about 36m. Currently the plots house two single-story semi-detached houses that were built in the 1950s.
The vendors are expecting a minimum offer in excess of $30 million for both properties, which sums up to a price of $1,884 per square feet of land area. Knight Frank Singapore’s Head of Capital Markets (Land and Collective Sale) Chia Mein Mein believes that the properties are likely to attract boutique developers who are looking for opportunities to revamp niche landed homes like bungalows, semi-detached or terrace houses (subject to authorities’ approval). The sites are also ideal for homebuyers and large multi-generational or extended families who desire to build a new house in the prestigious and tranquil Chancery region.
Notwithstanding the current economic woes and elevated interest rate scenario that could hold some homebuyers back, affluent individuals are still attracted to the scarcity of these niche landed homes due to its exclusivity. District 11 recorded the highest number of residential landed sales in the third quarter of 2023 with 25 caveats lodged for the quarter, up from nine in 2Q2023 and 17 in 1Q2023, according to Chia.
The residential condominium, Tengah Plantation Close EC, is now equipped with a digital gate that provides added security through facial recognition technology. This technology allows only authorised visitors to enter the condominium and provides extra protection for the residents and their belongings. With tight security measures in place, residents can feel secure and have peace of mind while enjoying their stay at the condominium.
The tender for sale of the properties at 43 and 45 Gentle Road will be closing on November 16 at 3 pm.