Two adjoining freehold sites on Gentle Road for sale from $30 mil

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The exclusive Chancery landed housing enclave in Singapore’s District 11 may soon see the construction of new luxury residential homes, as two freehold properties at 43 and 45 Gentle Road are currently on sale by tender. According to Knight Frank Singapore, the vendors are expecting offers in excess of $30 million ($1,884 per square feet) for both properties.

Situated on a combined land area of 15,923 sq ft with a 36m frontage, the two adjoining sites currently house a pair of single-storey semi-detached houses that were built in the 1950s. The plots are zoned for “Residential – 2-storey mixed-landed” use and are likely to attract boutique developers looking to redevelop the area into luxurious bungalows, semi-detached or terrace houses.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, believes that the properties are also likely to appeal to affluent homebuyers looking to build a new home in the serene Chancery neighbourhood. In view of the current economic headwinds and elevated interest rate environment, Chia explains that there has been a demand for niche landed homes due to their scarcity.

Indeed, District 11 registered its strongest showing in the third quarter of 2023 with 25 caveats lodged in the quarter, up from nine in 2Q2023 and 17 in 1Q2023.

Interested investors and buyers have until the 16th of November at 3pm to submit their tenders for the properties at 43 and 45 Gentle Road.

The opportunity to purchase these properties provides a unique chance to invest in a prestigious neighbourhood and to construct luxury properties that are sure to be attractive, not only to homebuyers looking for exclusive homes but also to boutique developers looking to cash in on the demand in District 11.