District 15 corner terraced freehold home listed for $4.2 million
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A freehold corner terraced home situated off Tanjong Katong Road in District 15 is expected to be on the block during Edmund Tie’s upcoming auction on the 24th of May. A sale for the owners The two-storey home has a price guide of $4.2 million. The property is situated on an approximate 2,770 sq feet plot which is a total build-up area of approximately 1,800 square feet. The cost is $1,516 per sq ft of property’s land.
The corner terraced house is situated on Green Lane, that is bordered with Tanjong Katong Road and Lim Ah Woo Road. The entire landed estate is the combination of inter-terrace and corner houses that are located along Pebble Lane, Gray Lane, Sandy Lane, and Green Lane.
Based on the property listing, the property to be sold is a two-story home with three bedrooms as well as three bathroom. The house is located in a North-South direction and the site is an average area ratio of 1.4 in accordance with the most recent Master Plan. One advantage of the vast land area is the huge garden area adjacent to the house.
Because of the state of the house and the condition of the house, the Edmund Tie auction team recommends this as a redevelopment or an addition and modification (A&A) plan for the homeowner who is about to move in.
The property is located about 300m away distant from City Plaza and Kinex shopping malls within The Paya Lebar precinct. It is also approximately 500m away from Tanjong Katong Complex and PLQ3 is one of three office towers located in Paya Lebar Quarter (PLQ). PLQ also includes PLQ Mall and it is located near Paya Lebar Square and Singapore Post Centre.
The proximity of this property implies there is a closest MRT stations to the property is Paya Lebar MRT Interchange on the East-West and Circle Lines. The second closest MRT station to this property can be found at Dakota Station on the Circle Line.
Primary schools within a radius of 1km from the house include Haig Girls School, Kong Hwa School and Tanjong Katong Primary School. Other primary schools located in the area comprise CHIJ (Katong) primary School, Geylang Methodist School (Primary), Maha Bodhi School and Tao Nan School. Secondary schools in the vicinity are Tanjong Katong Secondary, Tanjong Katong Girls School, Chung Cheng High School as well as Broadrick Secondary.
The area located in District 15 — which is the Geylang East subzone according to the planning zone it is booming with activity in the purchase market because of the three new projects that have been launched in the region. The latest one to be seen are the Continuum which is an 816-unit condominium by Hoi Hup Real Estate and Sunway Property on Thiam Siew Avenue just 100m from the property.
Developers City Developments (CDL) and MCL Land launched the 638-unit Tembusu Grand along Jalan Tembusu on April 8. Buyers bought 334 units (53%) at an average price of $2,465 for a psf.
The area will then be the site for the 1 008 unit Grand Dunman on Dunman Road. Developer SingHaiyi Group was awarded the leasehold for 99 years site following the submission of a top price in the amount of $1.28 billion ($1,350 in plots) in June of last year.
Based on URA restrictions, only three of the landed homes on Green Lane have changed hands within the last six years. The most recent one was a freehold, inter-terrace property located at 4B Green Lane which was sold for $2.25 million, which is the land value of $1,124 per square foot, in September of 2019.
A semi-detached property located at 10B Green Lane was sold for $6.8 million in June of 2018 which is equivalent to the land rate of $2,026 per sq ft. A semi-detached home situated at 7 Green Lane was also sold for $6.8 million in May 2017 which is a land value of $1,664 per square foot.
In the nearby Sandy Lane, a freehold terraced house located at 3D Sandy Lane was sold for $2.6 million in March 2020. That translates to $1,313 psf for the land.