A freehold re-development site measuring 8,666 sq ft at 13 Brighton Crescent in Serangoon is up for auction, Colliers International announced today.
Offered as an estate sale, the rectangular site is currently occupied by a single-storey detached house. Under the 2014 Master Plan, it is zoned for “two-storey mixed landed” use, and the indicative price is $7.7 million, which is about $890 per sq ft.
According to Deputy Managing Director of Colliers International Grace Ng, a new detached house of around 4,300 sq ft in Serangoon can fetch $6 million or more, which translates to about $1,400 per sq ft.
“Prices of landed properties continue to hold firm – despite the recent government curbs in the residential market – because there is still an underlying interest for landed properties. It remains every Singaporean’s dream to own a landed property,” she said.
The site can be subdivided to house either two bungalows of around 4,333 sq ft each or three terrace houses measuring 2,000 sq ft to 3,000 sq ft each.
Nestled among single-storey houses, two-storey detached and semi-detached houses, the site is accessible via Serangoon Garden Way.
The auction will be conducted by Colliers International on 24 September 2014 at The Amara Hotel.
Image by Colliers International