SINGAPORE (THE BUSINESS TIMES) - A freehold conservation bungalow at 759 Mountbatten Road in District 15 has been launched for sale with a guide price of $27 million, or $1,295 per sq ft.
Originally built in the 1920s, the colonial Victorian-style bungalow sits within the Mountbatten Road bungalow conservation area on a 20,847.54 sq ft site. A rear annex building was added in 1995 and its two pavilions were refurbished.
According to Century 21 and Huttons Asia, which are jointly marketing the property, the bungalow became a hotel after World War II and was owned in the 1950s by Chinese hotelkeeper Ong Tiow Kian.
Today, it is home to the 41-room Sing Hoe Hotel.
Within 2km of the site are the upcoming Katong Park MRT station and educational institutions such as Kong Hwa School, Chung Cheng High School, Dunman High School and Victoria Junior College, as well as East Coast Park, Old Airport Road Food Centre and Singapore Sports Hub.
The property is one of 15 conservation bungalows in the Mountbatten Road conservation area and offers prospective buyers three possible options - a family home, a hotel or strata-titled residential units.
Home owners can enhance it with a swimming pool and landscaping, with enough space for about 20 cars. Prospective buyers could also convert it into a place with a co-living concept, subject to relevant government approvals.
As a possible third option, the joint marketing agents said that the Urban Redevelopment Authority (URA) is willing to consider allowing the site to be converted into strata-titled residential flats. Prospective buyers could explore this option with URA and have the bungalow maintained by strata-titled residents.
Currently, there are condominiums that include conserved buildings on their premises. They are Grand Duchess at St Patrick's, A Treasure Trove, The Aristo @ Amber, The Red House, Tan Chin Tuan Mansion and Meyer Place.
The tender closes on May 24 at 3pm.