There has been increased frenzy in Singapore’s realty market and it isn’t just en bloc sales and new developments that are making the noise but even prime bungalows that are being put up for sale.
One such property in District 15 located near Meyer Road and Mountbatten Road has been put up for sale and is being marketed by JLL Singapore.
12 Broadrick Road the 16,160 sq ft freehold site which is primarily located is expected to sell between S$22 million and S$24 million which would translate into a land rate between S$1,361 and S$1,485 per square foot.
The property has been listed for sale by the late owner’s trustees and it is expected that once sold the site would give way to two or three bungalows upon receiving necessary approvals from the concerned authorities.
The site was listed for sale in January and had received multiple expression of interest from buyers looking for smaller sized lots but the price offered wasn’t to the expectation of the seller.
According to an official spokesperson from JLL, many large bungalow sites have been redeveloped into smaller bungalows in the recent years and hence 12 Broadrick Road holds the potential to walk the same road.
There has been increased activity in the Katong area in the last few months with 8 bungalow properties already seeing successful transactions since the start of the year.
The site is attractively located being only 10 minutes’ drive away from the Changi Airport and in close proximity of upcoming Katong Park MRT station which has a part of the Thomson-East Coast Line which is expected to be completed by 2023.
It is only 10 minutes from the Central Business District and close to many amenities which make it an ideal location for luxurious living.
12 Broadrick Road’s tender shall close on the 9th of July.