A chic bungalow at Chee Hoon Avenue is for sale by auction

Bid could fetch over $20 million.

Savills announces the auction sale of No. 8 Chee Hoon Avenue – a prime good class bungalow site within the prestigious Chee Hoon Good Class Bungalow Area.

No.8 Chee Hoon Avenue has a land area of 15,184 sq.ft. and is nestled in the heart of the  Chee Hoon GCB area. It enjoys a wide 37 m frontage, is regular shaped and well elevated  grounds. It is easily accessible via Adam Rd, Lornie Rd, Dunearn Rd.

The site is within  walking distance to the Botanic Gardens, Cluny Court and Serene Centre. The Botanic  Gardens MRT station which is located a stone’s throw away offers easy connectivity across  the island and is just a 2 station away to Holland Village, which is otherwise just a short 5 –10 minute drive away. There are no lack of exclusive upscale and casual restaurants in  nearby Dempsey Village and the ever popular Holland Village.

The Anglo Chinese School,  Nanyang Primary School, Raffles Girls’ Primary School and Singapore Chinese Girls’ Primary School are located closeby.  

Savills expects the property to fetch in excess of S$23 million.

“I am expecting this property to be well received. It’s difficult to find a good class bungalow that ticks all the boxes. With this property, one gets regular shaped, well elevated land with a  wide frontage; a north-south orientation and best of all, a prized address. This is an ideal site  for someone who desires a beautiful piece of GCB land to build their dream home on.” says  Samuel Eyo, Director of Savills Prestige Homes.  

“Profile of GCB buyers tends to be end-users. Although they own multiple properties and  would incur additional stamp duties in their GCB purchase, the extra costs when averaged  out over the period of stay would be insignificant. As GCB is a highly exclusive market with
limited supply, being able to buy into a choice property is a more important consideration to  purchasers than the extra transaction costs.” says Steven Ming, deputy managing director for  Savills Singapore.

The auction is on 27 th February 2013.