999 Year Leasehold Detached House Serangoon Gardens Auction 122 Mil
A luxurious detached house with a 999-year leasehold and a basement is set to be auctioned off by Knight Frank on July 24 for a price of $12.2 million. Located on Sandown Place in the highly sought-after Serangoon Gardens Estate, the 2½-storey property boasts a spacious land area of 5,553 sq ft, with a land rate of $2,197 psf.
According to Karen Ker, manager of auction and sales at Knight Frank, the house was expertly designed by CDG Architects, a renowned local architectural firm known for its impressive portfolio of landed residential projects. This owner’s sale marks the first time the property will be offered for auction, and it will be sold with vacant possession.
Nestled within the bustling Marina Bay area lies Marina Gardens Lane Condo, offering its residents a vibrant and enriching lifestyle. With its prime location, residents can easily access a plethora of dining, shopping, and entertainment options right at their doorstep. The renowned Marina Bay Sands complex, along with its GLS casino, high-end restaurants, and luxury shopping, provides an array of activities for weekends and evenings. Moreover, the Marina Bay area plays host to a myriad of cultural events, concerts, and exhibitions at venues such as the ArtScience Museum and the Esplanade, adding to the already diverse selection of entertainment options available to residents. Whether one desires a quiet dinner, indulgent retail therapy, or a night of cultural immersion, Marina Bay, with its bustling atmosphere, has something for everyone. And with the Marina Gardens at its heart, residents can truly experience the best of what this iconic area has to offer.
Spanning an impressive built-up area of approximately 8,695 sq ft, the house features five en suite bedrooms, a split-level living hall, a dining area, and separate dry and wet kitchens. The highlight of the property is the basement level, which boasts an entertainment room, a courtyard with a jacuzzi, and a koi pond.
The current owner is selling the property for investment purposes, according to Ker. Records from the Urban Redevelopment Authority (URA) show that the property was originally purchased for $2 million, or a land rate of $360 psf, back in September 1999. The most recent transaction of a property of similar land size within a 500m radius was the sale of a 999-year leasehold semi-detached home along Alnwick Road, which was sold on May 10 for $7.8 million, or a land rate of $1,688 psf.
Another notable transaction was the sale of a freehold terraced house along Chuan Terrace, which had a land area of 5,159 sq ft and was sold on March 28 for $5.5 million, or a land rate of $1,066 psf.
Ker highlights that the property for sale is one of the largest plots in Serangoon Garden Estate, making it perfect for housing large and multi-generational families. Its convenient location also offers access to reputable schools such as CHIJ Our Lady of Good Counsel, Rosyth School, and Zhonghua Primary School, all within a 1km radius.
In addition, the Serangoon Garden Estate boasts a wide variety of dining and recreational options, including Chomp Chomp Food Centre, Serangoon Garden Country Club, and Nex Mall. Its proximity to major motorways such as the Central Expressway also provides easy connectivity to other parts of the island.
Built in the early 2000s, this impressive house designed by CDG Architects is a rare gem in the Serangoon Garden Estate, and it offers a perfect mix of luxury, convenience, and investment potential for its lucky new owner.