Seletar Hills bungalow up for private sale at $15m

Located at the corner of Begonia Crescent and Begonia Terrace, the freehold property has a land area of 10,027 sq ft. The $15 million asking price is the highest in the area for a single landed property.
Located at the corner of Begonia Crescent and Begonia Terrace, the freehold property has a land area of 10,027 sq ft. The $15 million asking price is the highest in the area for a single landed property.PHOTO: SAVILLS SINGAPORE

A large corner bungalow off Seletar Road in the Seletar Hills estate is up for sale via private treaty for $15 million.

The freehold property, located at the corner of Begonia Crescent and Begonia Terrace, has a land area of 10,027 sq ft.

It is one of the larger parcels in the area, said Mr Philip Ng, associate director of investment sales at Savills Singapore.

"Looking at a 2km radius, there were 10 transactions made for landed property from 8,000 sq ft to 11,000 sq ft in the past year," he said.

"Some time early this year, a nearby property in excess of 8,000 sq ft was sold at a unit land rate of $1,500 psf, which amounted to over $12 million."

Based on a similar unit land rate, the asking price of $15 million for this detached house is the highest in the area for a single landed property, he added.

The tranquillity of the neighbourhood has long been a draw for residents in the area. There are parks and playgrounds within walking distance.

Residents can also head down to the nearby Greenwich V shopping mall and food establishments in the Jalan Kayu area to eat, drink and unwind.

The Straits Times understands that the seller is a retired businessman in his late 50s or early 60s with grown-up children.

He bought the property 20 years ago and has been living there with his family since.

If he manages to find a buyer, there are plans for the owner to move to a bigger property, said Mr Ng.

Sole marketing agent Savills said the owner had received several expressions of interest in recent months from unsolicited parties before he decided to sell the property.

rjscully@sph.com.sg