Freehold Semi Detached House Li Hwan View Sale 559 Mil
A freehold semi-detached house situated at Li Hwan View in the Golden Hill landed estate is now available on the market for $5.59 million. Currently, the property is being offered for sale by Edmund Tie and will be part of their upcoming auction on August 28.
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Sitting on a rectangular plot that spans 3,615 square feet, the property has a frontage of 11.6 meters. The guide price for this freehold semi-detached house is $5.59 million, which translates to a land rate of $1,546 per square foot. The house is a two-storey residence that also includes a basement, with a total built-up area of approximately 4,500 square feet.
According to Joy Tan, the executive director of auction and sales at Edmund Tie, the house is over 23 years old and remains mostly in its original condition. She suggests that redeveloping the property could be beneficial as it would allow for the construction of a new 3½-storey home, maximizing the allowable built-up area. This option provides the new owner with greater flexibility in designing a tailored home to fit their lifestyle and living needs.
The surrounding area is primarily dominated by two- and three-storey detached and semi-detached houses and is adjacent to Ang Mo Kio Avenue 1 and Lorong Chuan. The property’s location is ideal because it is next to Lorong Chuan, but the plot is above the road, providing a greater level of privacy.
Based on URA caveats, most of the landed houses in the Golden Hill estate that have changed hands in the past few months have smaller plots of less than 3,000 square feet. For instance, a 1,680 square feet semi-detached house in Li Hwan Terrace was sold for $3.5 million ($2,083 per square foot) in April. Other transactions within the vicinity this year include the sale of a 2,016 square feet intermediate terrace at Mei Hwan Crescent for $4.3 million ($2,133 per square foot) in February and a 1,678 square feet intermediate terrace at Li Hwan Place for $3.52 million ($2,098 per square foot) in January.
In November last year, a house adjacent to the property was sold for $4.7 million. This residence sits on a 3,621 square feet plot, and the price translates to a land rate of $1,298 per square foot. Also, a 3,926 square feet semi-detached house in Li Hwan View was sold for $5.28 million ($1,344 per square foot) in November 2020.
Tan notes that finding a freehold landed property for redevelopment in the Golden Hill and Serangoon Gardens area is not a common occurrence. She adds that the site’s appeal is further enhanced by its location on a cul-de-sac and its close proximity to numerous amenities and schools, making it an attractive option for potential landed homeowners.
The Golden Hill estate is conveniently located near a variety of amenities and dining options in Serangoon Gardens. These include Serangoon Gardens Market on Serangoon Garden Way, Chomp Chomp Food Centre on Kensington Park Road, and myVillage shopping mall on Maju Avenue.
The property is also expected to attract families with school-age children as it is within 1km of four primary schools, including CHIJ Our Lady of Good Counsel, St Gabriel’s Primary School, Yangzheng Primary School, and Zhonghua Primary School. Additionally, the Nex shopping mall, which is connected to Serangoon MRT Station on the North East Line and Circle Line, is also close by. The nearest MRT station to the semi-detached house for sale is Lorong Chuan on the Circle Line, just 400 meters away.