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Landed Property at Chancery Hill Road Launched For Sale

27 March 2015

Knight Frank Singapore is pleased to announce the launch for sale a landed property located along Chancery Hill Road by Expression of Interest.

The property is put up for sale by the estate of the late Professor Arthur Lim. The late Professor Lim played a key role in establishing the Singapore National Eye Centre, Singapore Eye Research Institute, and the Department of Ophthalmology at the National University Hospital. Being known as Southeast Asia’s “father of ophthalmology”, he had trained over 5,000 specialists in this field. In 2014, SNEC and Duke-NUS Graduate Medical School Singapore established the Arthur Lim Professorship in Ophthalmology in his honour.

The property has a land area of approximately 12,772 sq ft and is zoned “Residential – 2-storey mixed landed” under the 2014 Master Plan.

The property is located within an exclusive enclave of prime landed residential housing in the Chancery area. It enjoys the convenience of being located in close proximity to the retail and medical hubs at Novena and Orchard. Retail, dining and entertainment facilities are conveniently located at the nearby Velocity @ Novena Square, Square 2 and United Square Shopping Centre. The shopping and entertainment belt of Orchard Road is just a short drive away.

The property is located within proximity to the nearby Novena and the upcoming Mt Pleasant MRT Stations. It is also well served by major arterial roads and expressways such as Pan Island Expressway (PIE) and Central Expressway (CTE), providing excellent connectivity to the rest of Singapore.

Established schools such as Anglo-Chinese School, St Joseph’s Institution Junior, CHIJ Primary (Toa Payoh), Singapore Chinese Girls’ Primary School, Catholic Junior College and Chinese International School are located within the vicinity.

There is currently a two-storey detached house sitting on the site. The property is suitable for addition and/or alteration works or redevelopment. Approval from the authorities has been obtained for subdivision of the property into 2 bungalows.

“The property is located within the prime Chancery area. The prospective buyer can either redevelop it into a luxurious new bungalow, 2 bungalows for multi-tier families or strata landed housing. Given its redevelopment potential, we would expect strong interest for this property,” says Ms Mary Sai, Executive Director, Investment & Capital Markets.

The indicative price for the property is $19 million or approximately $1,488 per square ft. A bungalow located along Dyson Road was transacted at $20 million or $1,493 psf in April 2014. Another bungalow along Gentle Road changed hands for $13.1 million or $1,493 psf in March 2014.

The Expression of Interest closes on 21 April 2015, Tuesday at 3 pm.

For further information, please contact:
Ms Mary Sai, Executive Director, Investment & Capital Markets
(E): mary.sai@sg.knightfrank.com  (D) +65 6228 6886 / (M): +65 9388 7879