Golden Hill Estate: Freehold Semi-Detached Property Hits Auction Block

A rare chance has surfaced in Singapore’s esteemed Golden Hill landed estate: a freehold semi-detached house at Li Hwan View is scheduled for auction. With a reference price of $5.59 million, Edmund Tie will offer this property at their forthcoming auction on August 28.

Comprising a rectangular 3,615 square foot plot with an 11.6 m frontage, the property is an owner’s sale. This comes to a land rate of $1,546 psf at the current guide price. Comprising a basement, the two-storey house has a total built-up area of around 4,500 square feet.

Executive director of Edmund Tie’s auction and sales, Joy Tan offers perspective on the property’s possibilities. “The house was built over 23 years ago and remains basically in its original condition,” Tan says. She says redevelopment might uncover great value and enable a new 3½-storey house that best uses the allowed built-up space.

“Redeveloping the property offers the new owner greater flexibility to design a home tailored to their lifestyle and living needs,” Tan says, stressing the attraction for potential purchasers.

Mostly two- and three-storey detached and semi-detached homes surround here. Although the land for sale runs alongside Lorong Chuan, its high elevation guarantees solitude.

Recent purchases on the Golden Hill estate help to explain the present offer. Over the past three months, most sold landed homes have been on smaller lots less than 3,000 square feet. Selling for $3.5 million ($2,083 psf), a 1,680 sq ft semi-detached property at Li Hwan Terrace was the most recent resale in the area.

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Other noteworthy transactions in the area this year include a 1,678 square foot intermediate terraced house sold for $3.52 million ($2,098 psf) in January and a 2,016 square foot intermediate terraced property at Mei Hwan Crescent, sold for $4.3 million ($2,134 psf) in February.

By comparison, last November a nearby property for sale changed hands for $4.7 million. Comprising a 3,621 square foot area, this sale represented a land rate of $1,298 psf. At Li Hwan View, a 3,926 square foot semi-detached property sold for $5.28 million ($1,344 psf in November 2021).

Tan notes how rare it is to come across a freehold plot fit for redevelopment in the Golden Hill and Serangoon Gardens area. The fact that the property is on a cul-de-sac and close to several schools and businesses adds to its attraction to possible house owners.

The Golden Hill estate gains from its closeness to Serangoon Gardens’ eating and conveniences. Attractions close by include myVillage shopping mall, Chomp Chomp Food Centre, and Serangoon Gardens Market.

The property’s proximity to four main schools – CHij Our Lady of Good Counsel, St Gabriel’s Primary School, Yangzheng Primary School, and Zhonghua Primary School – appeals to families with school-age children especially.

Connectivity-wise, Lorong Chuan on the Circle Line is the closest MRT station, about 400m away. Additionally within reach is Nex shopping mall, connected to Serangoon MRT Station on both the North East Line and Circle Line.

This Golden Hill property presents a great prospect in Singapore’s competitive real estate market as the auction date draws near, giving potential purchasers the chance to acquire a large freehold asset in a highly sought-after area.

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