Kovan 999-year Leasehold Site for Sale – A 999-year leasehold resident in the Kovan estate, Singapore District 19, has been put up for sale. The asking price for this condominium starts from $18 million. This residential site is located at 48 Hillside Drive and it comes with a site area of 1,955.2 sq m. The marketing agent solely responsible for the sale of this condominium is Edmund Tie.
The marketing agency in charge of the sale of this residence has revealed that the property is ideal for a multi-generational family. It was also stated that the property is suitable for high-net-worth individuals. This property can be redeveloped into several landed housing types. It can also be transformed into boutique residential development averaging 100 sq m for 27 apartment units.
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This residential property is close to MRT interchanges like Serangoon MRT and Kovan MRT. The property is also close to expressways and major roads like Yio Chu Kang Road, Central Expressway, and Upper Serangoon Road. Resident can easily locate supermarkets and eateries like Heartland Mall, NEX, MyVilla, and Chomp Chomp Food Centre. The property is also surrounded by reputable educational institutions such as Zhonghua Primary School, Rosyth School, Australian International School, and International French School.
Executive Director of Investment Advisory at Edmund Tie, Swee Shou Fern, said the property will be great to a lot of potential buyers because of its various redevelopment possibilities and affordable bite-sized quantum. The property is also on a well-located site.
This project can be redeveloped into a boutique apartment development. It can also be subdivided the site into multiple landed homes. They also expect attraction from multi-generational families looking to purchase for their stay or high-net-worth individuals.
The property is unique and great to live in. The executive director of investment advisory at Edmund Tie also believes that this property may be the last available plot for sale along the district.
The current new launches in the same district include projects like Affinity at Serangoon by Oxley, The Florence Residences by Logan and not forgetting The Garden Residences by Keppel Land. Some of the upcoming launches in the neighbourhood include Parc Rampai by Wee Hur as well as Bliss @ Hillside Drive.