A two-storey freehold semi-detached home located on Jalan Belibas, off Upper Thomson Road in District 20, will be auctioned off at Edmund Tie’s upcoming auction on the 25th of October. This is an owner’s sale and has a price guide at $7.2 million (about $2,123 per sq ft).
Lentor Mansion condo price bid of $276,360,000 is a significant investment demonstrates the developer’s unwavering confidence and vision for transforming Lentor Mansion.
The property is the first to be sold at auction after it was purchased from the property’s owner back in 2012 at $3 million. The property is situated in Thomson Park. Thomson Park neighbourhood and is currently leased. The lease is set to expire in November and the property is scheduled to be sold with vacant possession.
The house that faces southwest is on a freehold rectangular plot, with the total area of approximately 3,391 square feet and a built-up area of approximately 3,200 square feet, subject to the final survey. The property has a frontage of around 12.5m and is situated within an cul-de-sac that provides peace and privacy to its inhabitants.
On the top floor on the top floor is an outdoor car port and an outdoor garden and a room for a grandmother as well as a dining room, as well as a home office are situated inside. The home also has an office, as well as a kitchen enclosed that extends into the kitchen open the yard. On the second floor is one master bedroom with an ensuite bath, 3 bedrooms as well as a common bathroom.
The home is also walking distance to Thomson Plaza, the Upper Thomson MRT Station on the Thomson-East Coast Line, Thomson Plaza and restaurants along Upper Thomson Road.
The land is zoned to be a two-storey semi detached house in the Urban Redevelopment Authority (URA) 2019 Masterplan. Based on Joy Tan, head of auctions and sales with Edmund Tie, buyers are likely to consist of a mix of owners as well as developers who are looking to redevelop. The agent also suggests that some owner-occupiers might be thinking about making minor modifications and additions to the current property instead of developing it.
On the basis of URA caveats that were lodged with the URA, four freehold properties located in Thomson Park, where the property is situated, changed hands in the past year. In April one of them, a 1,674 square feet terraced home was sold for $3.5 million or $2,091 per square foot. A terraced home with 1,608 square feet and an attached semi-detached house that covered 2,444 square feet of land was purchased to the public for $3.88 million ($2,413 per sq ft) as well as $4.6 million ($1,882 per sq ft) in the respective. In August the 1,708 square feet terraced house was sold to a buyer for $4.25 million, which is $2,488 per square foot.
Thomson Park properties located at Thomson Park typically resell for an average of $2,219 per square foot, calculated based on a table of residential resales in the past 12 months from EdgeProp Singapore. Based on rental information from the same time period the landlords can enjoy rents ranging between $1.80 each month (pm) up to $4.20 per sq ft, which is an implied yield of around 1.4%.