Image: 25 Branksome Road. (Source: Colliers International)
A freehold redevelopment site at 25 Branksome Road in District 15 will be put up for sale by auction at the end of this month, according to marketing agent Colliers International.
The 13,844 sq ft site is located within a landed housing enclave between Tanjong Katong Road and Crescent Road, and is currently occupied by an old single-storey bungalow.
Under the Master Plan 2014, it is zoned residential and within a “two-storey semi-detached landed housing vicinity”.
According to Colliers, the indicative price for the plot is in the range of $15 million to $17 million, which translates to a psf price of $1,083 to $1,227.
The consultancy noted that the median price of detached houses in District 15 stood at $1,246 psf on the land area in Q2 2015.
“A landed housing site of this size – and one with redevelopment potential – in District 15 is rarely made available for sale. Transactions of similar large sites were last recorded two years ago – a 13,632 sq ft site at Seraya Lane that was sold for $17 million ($1,247 psf) and a 12,525 sq ft site at Goodman Road that changed hands at $16.38 million ($1,308 psf),” said Grace Ng, Deputy Managing Director at Colliers.
“The site has potential for sub-division to accommodate either two detached houses or one detached house and a pair of semi-detached houses,” added Ng, who expects to see keen interest from owner-occupiers and developers.
The subject property is close to shopping malls such as Parkway Parade, 112 Katong and the upcoming The Flow @ East Coast, as well as reputable schools like Tao Nan School and Tanjong Katong Girls’ School. Dakota MRT, as well as the future Amber and Marine Parade MRT stations are also in the vicinity.
The Colliers auction takes place on 30 September at the Amara Hotel.