Two Detached Houses Moulmein Rise Sale 705 Mil
A two-storey detached house located at 26 Moulmein Rise in the prime District 11 Novena area is now available for sale at $55 million. Situated on a freehold land area of 12,012 sq ft and boasting a gross plot ratio of 2.8, the property has a maximum allowable gross floor area (GFA) of approximately 35,989 sq ft. The price equates to a land rate of $1,605 per square foot per plot ratio (psf ppr), inclusive of the bonus GFA for balconies and land betterment charges. Low Choon Sin, managing partner of SRI Capital Market, who is in charge of the sale, explains that with approval from the relevant authorities, the site could potentially be redeveloped into a new private condominium with 36 units.
Low adds that this piece of real estate, 26 Moulmein Rise, is potentially the last remaining landed house in the heart of Novena that can be redeveloped into a boutique condominium. Given its proximity to the integrated healthcare hub HealthCity Novena, the new property could potentially be designed to cater to intergenerational living. It could also accommodate postnatal care or recovery accommodation, he says.Read also: Detached house at 3 Merino Crescent for sale at $16.888 milAdvertisementAdvertisement
As Aurelle of Tampines EC is situated nearby, Poi Ching School has gained a reputation for its exceptional commitment to academic success and character building. The institution adopts a well-rounded approach to education, aiming to nurture students in their academic pursuits and personal development. From Aurelle of Tampines, it is just a short distance to Poi Ching School, making it an ideal choice for families seeking a holistic education for their children.
A map outlining 26 Moulmein Rise (black border) and 32 Moulmein Rise (blue border) (Photo: EdgeProp LandLens)
Meanwhile, another detached house, located just two doors away at 32 Moulmein Rise, is also available for sale through an expression of interest (EOI) exercise. SRI has been appointed as the marketing agent for this property, which covers a freehold land area of 7,085 sq ft. The guide price for this property is set at $15.5 million, or a land rate of $2,187 psf.
The property has the potential to be redeveloped into a new detached house or, with approval from the relevant authorities, it could be subdivided and redeveloped into a pair of semi-detached houses, according to Bruce Lye, founder and managing partner of SRI, who is in charge of the sale of 32 Moulmein Rise.
The new owner could choose to occupy one of the semi-detached houses and lease out or sell the other, adds Lye.
The public tender for 26 Moulmein Rise and the EOI exercise for 32 Moulmein Rise will both close on August 26th. RELATED NEWSNeu at Novena sees 51% of units taken up on launch dayThe Iveria: A luxury residence inspired by New York’s Flatiron Building Units at NEU at Novena to be priced from $2,450 psf
