03 October 2024, Singapore -

PropNex today announced that it is exclusively marketing a freehold bungalow in Andrew Road, which is located within the Caldecott Hill Estate good class bungalow (GCB) area. The detached house in District 11 is offered for sale via private treaty and has a guide price of $21.8 million, which translates to an average price of around $2,008 psf based on a land area of approximately 10,858 sq ft (1,008.7 sq m).

The two-storey detached house with a basement, an attic and a swimming pool has a floor area of 9,643 sq ft (approximately 895.86 sq m). There are a total of eight bedrooms and common areas for family gathering in the property, which also features lush greenery. It has a 40-metre long frontage onto Andrew Road.

The first storey comprises the living room and dining area, two bedrooms (one with en suite bathroom), kitchen, common bathroom and the pantry. Meanwhile, the family area with adjoining balcony, the master bedroom with en suite bathroom and walk-in wardrobe, and four other bedrooms (all en suite) are on the second storey. On the attic level, there is another bedroom with en suite bathroom, a family area, common bathroom, and store room. The basement garage can accommodate up to five cars.

Henry Lim Choon Kheng, Associate District Branch Director, Head of GCB and Prestige Landed at PropNex, said, "There are limited buying opportunities for bungalows in GCB areas amid their tight supply and few motivated sellers. It appears there has been a pick-up in interest for homes in Caldecott Hill Estate since it was announced that the former site that housed the Caldecott Broadcast Centre in Andrew Road has been sold, and will be redeveloped into 15 (99-year leasehold) GCB plots. Following 5 years of rather muted market activity in Caldecott Hill Estate, we saw higher transactions with four deals done in 2022, and two transactions in 2023, according to URA Realis caveat data - perhaps buyers are excited about the upcoming plans for the area in view of developer-owner Perennial Holdings' upcoming redevelopment of the Caldecott Broadcast Centre site."

The two caveated transactions in Caldecott Hill Estate in 2023 are located in Caldecott Close, not far from the subject property that has been put up for sale in Andrew Road. The two deals comprised: a detached house on a 11,082.6-sq ft plot that fetched $22 million ($1,985 psf on land area) in August 2023; and another bungalow which was sold for $22.25 million ($2,036 psf on land area of 10,930.8 sq ft) in July 2023.

Mr Lim added, "We expect the bungalow that is offered for sale in Andrew Road to appeal to business owners, corporate executives, or high-net worth individuals who are seeking a large family home for multi-generational living. The detached house was built in 1998 and the buyer may also consider reconstruction, or addition & alteration works, subject to relevant approvals. Being located in an exclusive GCB enclave, we think the property offers a serene living environment. In addition, the successful buyer can also enjoy recreational activities, and the potential benefits that come with living near to nature, as the property is opposite the sprawling MacRitchie Reservoir and the Central Catchment Nature Reserve."

The site has easy access to major roads, given its location at the junction of Lornie Road and Andrew Road - it is about 20 minutes' drive to the central business district and around 10 minutes' drive to Orchard Road. The nearest MRT station is the Caldecott interchange station (Circle Line and Thomson-East Coast Line) that is situated more than 1 kilometre from the property. Meanwhile, retail and F&B offerings can be found at the neighbourhood centre in Toa Payoh, Zhongshan Mall in Balestier, as well as malls in Novena, such as Velocity @ Novena Square, Square 2, and United Square Shopping Mall.