A freehold Good Class Bungalow (GCB) in Chee Hoon Avenue has been put up for sale via a tender exercise that closes on May 20.
The indicative value of the property is $25 million, which translates to $1,399 per square foot (psf) based on a land area of 17,868 sq ft.
“With its frontage of about 39m and an average depth of about 42m, it is suitable for additions and alterations or redevelopment to optimise the potential of this land,” CBRE said in a news release yesterday.
CBRE is the sole marketing agent for the tender exercise.
The property is located in Chee Hoon Avenue, in a cul-de-sac, off Adam Road.
It comprises a part one/part two-storey detached house, which was originally built in the 1960s and renovated in 2005.
The property’s built-up area is about 3,300 sq ft (excluding car porch and rear terrace of about 1,000 sq ft) with two bedrooms and a study.