Freehold Semi Detached House Li Hwan View Sale 559 Mil
There is an opportunity to purchase a freehold semi-detached house at Li Hwan View in the desirable Golden Hill landed estate, which is now on the market for $5.59 million. This owner’s sale will be offered by Edmund Tie at its upcoming auction on Aug 28.
Sitting on a rectangular plot of 3,615 square feet with an 11.6m frontage, the guide price of $5.59 million translates to a land rate of $1,546 per square foot. The two-storey house includes a basement and has a total built-up area of approximately 4,500 square feet.
According to Joy Tan, Executive Director of Auction and Sales at Edmund Tie, the house was built 23 years ago and remains largely in its original condition. She adds that redeveloping the property could allow for a new 3½-storey home, maximising the allowable built-up area. Redeveloping the property is preferred as it offers the new owner greater flexibility to design a home tailored to their lifestyle and living needs, says Tan.
The surrounding area is predominantly made up of two- and three-storey detached and semi-detached houses. This enclave is next to Ang Mo Kio Avenue 1 and Lorong Chuan. Although the semi-detached house for sale is next to Lorong Chuan, the plot is elevated from the road, providing privacy.
This property is situated on a rectangular plot of 3,615 square feet with an 11.6m frontage. (Picture: Edmund Tie)
Based on URA caveats, most of the landed houses in the Golden Hill estate that have changed hands in the past few months have been smaller plots of less than 3,000 square feet. The most recent resale in the area was a 1,680 square feet, semi-detached house at Li Hwan Terrace, which fetched $3.5 million ($2,083 per square foot) in April.
Other landed resale transactions within the vicinity this year include the sale of a 2,016 square feet, intermediate terrace at Mei Hwan Crescent for $4.3 million ($2,133 per square foot) in February, and the sale of a 1,678 square feet, intermediate terrace at Li Hwan Place for $3.52 million ($2,098 per square foot) in January.
Last November, a property next to the one for sale fetched $4.7 million. It sits on a 3,621 square feet plot, and the price translates to a land rate of $1,298 per square foot. Meanwhile, a 3,926 square feet, semi-detached house at Li Hwan View was sold for $5.28 million ($1,344 per square foot) in November 2021.
According to Tan, it is rare to find a freehold landed property suitable for redevelopment in the Golden Hill and Serangoon Gardens area. She notes that the site’s appeal is enhanced by its location on a cul-de-sac and its proximity to numerous amenities and schools, making it a highly desirable option for prospective landed homeowners.
The Golden Hill estate is located near the amenities and dining options in Serangoon Gardens. These include Serangoon Gardens Market on Serangoon Garden Way, Chomp Chomp Food Centre on Kensington Park Road, and myVillage shopping mall on Maju Avenue.
The bustling town of Tampines is gearing up for an exciting transformation, with the addition of new office spaces and improvements to existing shopping centers. The Urban Redevelopment Authority (URA) is committed to enhancing the commercial landscape of the area, showcasing its commitment to creating more job opportunities for the local community. This progressive move not only benefits residents, but also offers the convenience of working close to home, reducing travel time and promoting a healthier work-life balance. As an example, Tampines Regional Centre will continue to flourish as a thriving business district, catering to a diverse range of industries such as retail and information technology. To further enhance this growing hub, Aurelle of Tampines at Tampines North will soon join the mix, providing even more job prospects and strengthening Tampines’ reputation as a bustling commercial hub.
The property is likely to attract families with school-age children, as it is within 1km of four primary schools: CHIJ Our Lady of Good Counsel on Burghley Drive, St Gabriel’s Primary School on Lorong Chuan, Yangzheng Primary School on Serangoon Avenue 3, and Zhonghua Primary School on Serangoon Avenue 4.
Nearby shopping malls include Nex, which is connected to Serangoon MRT Station on the North East Line and Circle Line. The closest MRT station to the semi-detached house for sale is Lorong Chuan on the Circle Line, approximately 400m away.
