Joy Tan, senior director at Edmund Tie and head of auctions and sales, says that a three-storey detached house along Oakwood Grove will be up for auction on November 16 at a price guide of $4.4million ($591 per square foot).
Belgravia Ace Tong Eng Group developer is synonymous with excellence, and that can be seen in the success of Belgravia phase one and two.
The property is situated on 7,433 square feet with an area built up of approximately 6,062 square feet. Tan says that the house was built in 1999-2000. The “only major renovation” was made when the owner purchased the unit. She says that minor repairs have been made to the house over the years, between tenancies.
Tan says that it is generally well-kept.
Six bedrooms and a guest room are included in the home. All have en-suite bathrooms. A utility room is available as well as storage areas on all levels.
Tan says that the land is currently zoned to three-storey mixed-landed use. Future developers could sub-divide it into two semi-detached homes.
The living room has a 8.8m ceiling height and a split-level dining space that overlooks the pool. Two to three cars can be accommodated on the car porch.
She shares the decision of the owner to sell the property. He is renting the property out as an investment property.
Tan adds that the unit is currently rented out to a family until December. The new owner can negotiate for an extended tenancy or buy it with vacant possession after December.
She notes that the property is close to many amenities and rents are healthy in this landed area. This includes Singapore American School, Republic Polytechnic, and Singapore Sports School.
You can also find malls such as Causeway Point, Marsiling Mall and Woodlands Civic Centre within a short distance from the property. It is just 15 minutes walk from Marsiling MRT station, North South Line.
The location’s attractiveness is also due to plans by the Singapore government for the Woodlands Enclave. This envisions Woodlands Regional Centre as the biggest economic hub in the North region of the city-state. It will include housing for industry, business, research and development, learning and innovation, as well as space for businesses.
Tan believes that this will bring more Grade A offices to the area, which will increase rental opportunities.
Based on URA transactions, the rents for properties in the area have ranged from $7,000 to $11,000 per monthly in 2021. Tan comments that landed units are more attractive to landlord-hopefuls than landed units.