House of pioneering eye surgeon goes on sale

Romesh NavaratnarajahMarch 26, 2015

Chancery Hill Rd bungalow

A prime landed property along Chancery Hill Road in the Thomson area has been launched for sale by expression of interest (EOI), revealed marketing agent Knight Frank.

The house was put on the market by the estate of the late Professor Arthur Lim. Considered Southeast Asia’s “father of opthalmology”, he played a key role in establishing the Singapore National Eye Centre, Singapore Eye Research Institute, and the Department of Opthalmology at the National University Hospital.

Measuring 12,772 sq ft, the property is zoned “Residential – two-storey mixed landed” under the 2014 Master Plan. Currently, a bungalow sits on the site.

According to Knight Frank, the indicative price is $19 million or approximately $1,488 psf. Last year, two bungalows at nearby Dyson Road and Gentle Road were transacted at $20 million and $13.1 million respectively.

Located close to the retail and medical hubs at Novena and Orchard, the property is also within proximity to Novena and the upcoming Mt Pleasant MRT stations.

Commenting, Mary Sai, Executive Director, Investment & Capital Markets at Knight Frank said: “The prospective buyer can either redevelop it into a luxurious new bungalow, two bungalows for multi-tier families or strata landed housing. Given its redevelopment potential, we would expect strong interest for this property.”

The EOI exercise closes on 21 April 2015.

Photo by Knight Frank.

 

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

POST COMMENT

You may also like these articles

Amber Skye condo relaunched, priced up to $2,500 psf

Although Singapore's lacklustre property market has caused developers to create smaller no-frills units at reduced prices, there are still many home buyers enquiring about larger apartments, according

Continue ReadingMarch 24, 2015

Knight Frank auction to offer 26 properties

A total of 26 residential and commercial units have been submitted for an upcoming public auction organised by Knight Frank, which will take place next Tuesday afternoon (31 March) at Amara Hotel.

Continue ReadingMarch 24, 2015

Developers show strong interest for Little India site

A 99-year leasehold residential site at Sturdee Road in the Little India district received 16 bids from developers after its tender closed on Tuesday, according to the Urban Redevelopment Authority (U

Continue ReadingMarch 25, 2015