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Kovan Estate residential land for sale at guide price of $18 million

The sale of Kovan Estate residential land at 48 Hillside Drive is offered via a tender exercise (image: EDMUND TIE)

EDMUND TIE, announced on 18 Feb that it has been named as the the sole marketing agent for a Kovan Estate residential land. The sale of Kovan Estate residential land at 48 Hillside Drive is offered via a tender exercise which will close on Tuesday, 23 March 2021 at 3.00 pm. Nestled within the mature Kovan estate, the regular plot has a site area of 1,955.2 sq m (approximately 21,046 sq ft). The 999-year leasehold site is zoned for Residential use at a plot ratio of 1.4 under the Master Plan 2019.

Kovan Estate residential land
The sale of Kovan Estate residential land at 48 Hillside Drive is offered via a tender exercise (image: EDMUND TIE)

The Kovan Estate residential land, which is held by a single owner, is ideal as a grand residence for high-net-worth individuals, a multi-generational family, or may be redeveloped into a variety of landed housing types or as a boutique residential development of up to 27 units based on an average apartment size of 100 sq m.

The Kovan Estate residential land enjoys convenient access to a plethora of amenities, with a wide array of eateries and supermarkets at the nearby Heartland Mall, NEX, MyVillage and Chomp Chomp Food Centre. The well-located Property also enjoys excellent accessibility with both Kovan MRT and Serangoon MRT Interchange located within a stone’s throw away, while major roads and expressway such as Yio Chu Kang Road, Upper Serangoon Road and Central Expressway (CTE) provide easy connectivity to other parts of Singapore. Educational institutions nearby include Rosyth School, Zhonghua Primary School and international schools such as Australian International School and International French School.

EDMUND TIE’s Executive director of investment advisory, Ms Swee Shou Fern, commented: “With an affordable bite-sized quantum, and various redevelopment possibilities for the well-located site, the property will appeal to a wide range of potential buyers. Besides residential developers who will be keen to subdivide the site into multiple landed homes or redevelop into a boutique apartment development, we also expect interest from high-net-worth and multi-generational families looking to buy for their own stay. Large single-owner redevelopment plots are tightly held and are rarely available. This may arguably be the last available plot for sale along Hillside Drive.”

“Held by a single owner, potential purchasers can be assured of certainty in deal completion timeline. It also presents an exceptional opportunity for immediate redevelopment without having to wait for a sale order which is common in a collective sale.”

The guide price for the Kovan Estate residential land is $18 million, reflecting approximately $855 per sq ft on the site area.

The tender exercise for the Kovan Estate residential land at 48 Hillside Drive will close on Tuesday, 23 March 2021 at 3pm.

Accessibility

48 Hillside Drive is right at the midpoint of everything that matters in Singapore. Driving to the Central Business District, Marina Bay, Orchard Road, or Changi Airport will take you less than 15 minutes.

The development is within the hub of main arteries such as Upper Serangoon Road, Tampines Road, Tampines Expressway, Kallang-Paya Lebar Expressway, and Central Expressway, so travelling by car will be a hassle-free experience. In addition, the Kovan MRT Station (North-East Line) is just a 10-minute walk away.

Leisure and Lifestyle

Modern living won’t be complete without nearby malls and supermarkets, so there are several within your reach. You’ll be very near Heartland Mall, Nex, Hougang Mall, and Upper Serangoon Shopping Centre. You’ll never have a dull moment with their year-round attractions, like restaurants, boutiques, cinemas and others. For your daily needs, you can shop at the nearby Fairprice, Cold Storage, or Prime Supermarket.

There are sports facilities too, like Kovan Sports Complex, Hougang Stadium, and Serangoon Stadium. The nearest neighborhood parks in the area are Surin Avenue Park and Serangoon Community Park, either of which you can easily walk to from your new home. Punggol Park is also just a six-minute drive away.

Schools

48 Hillside Drive is all about quality family living, so the developers made sure it’s a good, safe neighborhood where there are a lot of schools. You won’t have to sit in traffic for hours just to take your kids to school and back.

You can take your little ones to Pat’s Schoolhouse, Camberley Pre-school, PCF Kindergarten, or TPBC Kindergarten. The older kids can go to Xinghua Primary, Rosyth Primary, Zhonghua, or Holy Innocents Primary

Your teens can gear up for Maris Stella High School, Holy Innocents Secondary, Paya Lebar Methodist Girl’s School, Peicai Secondary, DPS International School, or Serangoon Junior College. For their tertiary education they can choose between Stansfield College, Uptrend (Hougang Campus), and Dimensions International College.

Wise Investment

Mr Paul Ho, chief mortgage officer at iCompareLoan, said: “A high-quality residential land like 48 Hillside Drive isn’t that common in Singapore, so it’s always a good investment. You can live with the peace of mind you can only have in a gated community at the edge of the city, and at the same time enjoy proximity to everything you need.”

But if you would rather live elsewhere, 48 Hillside Drive is still a must-buy. With its proximity to the CBD, Marina Bay, and other centers of business, you’ll have a lot of potential tenants and expatriate families looking to rent a home in the area. For you, that would mean a generous income from rent.

Mr Ho added, “Buyers of landed properties should also do their homework if they qualify for the best home loans to enable their purchase. A good home loan with the best interest rates could potentially save the buyers tens of thousands of dollars.”

Written by Ravi Chandran

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