JLL launches trustee sale of Chee Hoon Avenue bungalow
JLL launches for Expression of Interest campaign for a bungalow within Chee Hoon Avenue GCBA
SINGAPORE, 14 September 2022 – JLL, as sole marketing agent, today launched a sale by expression of interest of a bungalow house in District 11 at No. 46 Chee Hoon Avenue in Capitol Park Estate. The property is being sold with vacant possession and on an “as is where is” basis.
The subject property is a two-storey detached house and is being offered for sale by the trustees of the property. Under the 2019 URA Master Plan, the 11,064 sq ft site is within the Chee Hoon Avenue Good Class Bungalow Area (GCBA) with a North -South orientation and is located in the cul- de- sac road of Chee Hoon Avenue.
“The property has a coveted address and is suited for families who appreciate living in a serene, low-density community with the convenience of many surrounding popular schools and amenities. This trustee sale serves as an opportunity to own a property that can uphold its value and appreciate over time. It is also an asset that is worth passing down for many generations to come. The property is well kept and in move-in condition allowing for minimal renovation or an immediate stream of rental income. Furthermore, the subject property sits on a fairly regular plot with a 41m frontage and depth of up to 28m, allowing for easy redevelopment, “ says Mr. Nicholas Ng, Senior Director at JLL.
The property is located in a GCBA enclave and is a short walk to University Road Park, 600m to the Singapore Botanic Gardens, a UNESCO site and an eight-minute drive to Bukit Timah Nature Reserve. It is well connected to other parts of Singapore via the Pan Island Expressway and major roads such as Dunearn Road, Bukit Timah Road and Farrer Road. It is also short 10-minute drive to the famed Orchard Road Shopping Belt via Stevens Road.
Established shopping amenities, popular eateries and hip cafes are readily accessible within the Bukit Timah precinct. The Adam Road Food Centre, Sixth Avenue Centre, Guthrie House, Second Avenue Junction, Coronation Shopping Plaza, Serene Centre and Cluny Court are all located in close proximity to the subject property.
There are many popular primary schools in proximity. Nanyang Primary School is within 1km radius of the site while Singapore Chinese Girls’, Raffles Girls’ Primary School are within 1-2 km radius.
Other reputable schools such as Methodist Girls’ School, Hwa Chong International School, Hwa Chong Institution, Nanyang Girls’ High School, Henry Park Primary School, Pei Hwa Presbyterian Primary School, Saint Margaret’s Secondary School, National Junior College and NUS Bukit Timah Campus are in proximity. Prominent international schools include Singapore Korean International School, Hollandse School and Swiss School are located nearby.
Complementing the choice of schools, connectivity to the central business district and other parts of Singapore, is within easy reach. The Botanic Gardens MRT Interchange is approximately 680m from the site and it connects directly to the Downtown Line and Circle Line, bringing great accessibility to the downtown, one-north cluster and other parts of the island.
“With only 3 transactions taking place in the last 10 years in Chee Hoon Avenue, we expect keen interest from buyers who know the scarcity value and appreciate the proximity to the various education choices and amenities,” continues Mr. Ng.
The trustees of 46 Chee Hoon Avenue are expecting offers in the region $27 million, which works out to $2,440psf on the land area.
The expression of interest for 46 Chee Hoon Avenue closes on Thursday, 19 October 2023, at 12.00 p.m.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.