SINGAPORE, 7 JANUARY 2020 – EDMUND TIE, the sole marketing agent for the sale of 2F Gerald Crescent, is pleased to offer the sprawling redevelopment site for sale via a tender exercise.
Nestled within the established and exclusive Seletar Hills landed housing estate, the property occupies sprawling grounds with a site area of 2,962.0 sq m (approximately 31,882 sq ft). The 999-year leasehold site is currently occupied by a vacant bungalow. Under Master Plan 2019, the regular shaped site is zoned for 3-storey mixed landed housing and is well suited for a variety of landed housing types and combinations.
The property enjoys a serene and tranquil environment and is within an easy stroll to Sungei Punggol river and the Punggol Park Connector. Plans are also underway to transform the nearby Punggol Reservoir into an active space for recreational water activities as part of the current Master Plan.
Shopping, dining and recreational amenities are readily available in the immediate vicinity at Greenwich V, The Seletar Mall, shop clusters at nearby Jalan Selaseh / Jalan Kelulut, The Oval @ Seletar Aerospace Park, Seletar Country Club amongst others. Educational institutions nearby include Rosyth School, Nan Chiau High School, Nanyang Polytechnic, International French School and Australian International School.
Executive director of investment advisory, Ms Swee Shou Fern, commented: “Sizable redevelopment sites for landed housing are rarely available. The property, which is held by a single owner, also presents an exceptional opportunity for immediate redevelopment. Besides residential developers who will be keen to subdivide the site into multiple landed homes, we also expect interest from high-net-worth and multi-generational families looking to buy for their own stay.
“With limited supply of landed housing in Singapore, a growing trend for bigger homes due to work-from-home arrangements and a low interest rate environment, we expect demand for landed housing to remain strong. According to URA data, prices of landed homes inched up by 0.65% in 2020. Close to 1,950 landed homes were transacted in 2020, a 26% surge in transaction volume compared to 2019, indicating a strong interest in landed homes.”
The guide price for the property is $25 million, reflecting approximately $785 psf on the site area.
The tender exercise for 2F Gerald Crescent will close on Tuesday, 9 February 2021 at 3pm.
For further information, please contact:
Wong Wei Chen
Senior Manager, Corporate Communications
O: +65 6393 2369