Freehold Detached Bungalow and Strata Retail Shop launched for sale

SINGAPORE – – Knight Frank is pleased to offer two freehold properties in key regions in Singapore for sale by Expression of Interest (EOI). One is a splendid, 2-storey detached house in District 10, whilst the other is a strata retail shop along Upper Thomson Road.

2-Storey Detached House in Holland Park

Situated within the Good Class Bungalow area at Holland Park, a two-storey detached house with a basement is up for sale at a guide price of S$17 million to S$18 million.

Holland Park Detached home. Picture: Knight Frank Singapore.

According to REALIS, sales of landed properties in Q2 2019 has inclined by close to 34.5% quarter-on-quarter to 394 units, from 293 units in Q1 2019. This is despite prices for landed homes remaining largely unchanged.

Ms Mary Sai, Executive Director, Investment and Capital Markets, Knight Frank Singapore, says, “The pipeline supply of such prime, landed homes down the road is limited. Buyers seeking wealth preservation and strong capital appreciation over the long run will find properties such as this appealing, given current economic uncertainties.”

Surrounded by lush greenery, the District 10 home has a land area of 7,638 sq ft and total gross floor area of approximately 7,300 sq ft.

Interior, Holland Park Detached home. Picture: Knight Frank Singapore.

Built 3 years ago, the exceptional, architectural house was built with opulence and comfort in mind. The spacious property has 2 living rooms, a dining room and a family TV room on the ground floor, all built with a ceiling height of 5 metres. The second storey comprises 7 bedrooms, 6 of which are en suite, and offers relaxing views of the indoor garden it overlooks.

Up at the green rooftop, solar panels and a vegetable and fruit garden occupy the vast space. At the basement below, a plethora of amenities are available – 8 carpark lots with electric car charging points, 4 meeting rooms, an outdoor reading area, a helper’s bedroom, 2 toilets and a shower room. The entire interior of the home, including the bathroom walls, has been fitted with marble tiles and features tempered glass sliding doors.

Other interesting home features include an indoor garden with simulated brook, a koi pond, lap pool, jacuzzi, 9-metre high green walls, an automated garden irrigation system, and in-built remote-controlled lighting, sound and fan systems, as well as CCTV systems.

Freehold Strata Retail Shop along Thomson Road

Thomson Imperial Court. Picture: Knight Frank Singapore

Located within Thomson Imperial Court along Upper Thomson Road, the strata shop has a large floor plate of approximately 11,000 sq ft and is currently tenanted as a supermarket.

Ms Sai shares, “Well-located supermarkets generally act as good crowd pullers for shopping malls, and those with the potential for conversion into restaurant or food courts are actively sought after by both investors and food operators.”

Transactions of large strata retail spaces sized upwards of more than 4,000 sq ft are few and far between, as owners of such big units tend to partition them into smaller units to maximise rental yields and to hold them for investment.

Thomson Imperial Court. Picture: Knight Frank Singapore

The last sizeable transaction of a large strata retail space was a food court unit at the basement level of mixed-use development City Gate, which had a 99-year leasehold tenure and strata floor area of 4,693 sq ft. In August 2014, it was then sold for $16 million, translating to approximately S$3,409 per square foot (psf).

The guide price for the strata retail shop is S$19 million to S$20 million, reflecting a rate of $1,727 psf to SS$1,818 psf.

The EOI for both properties will close at 3 pm on 24 September 2019.