Savills : Sale of 2F Gerald Crescent

Savills Singapore is pleased to announce the launch for sale by tender, 2F Gerald Crescent. Occupying a sprawling land of approximately 31,882 sq ft (2,962sq m), the old single-storey bungalow has a 45m frontage along Gerald Crescent. Under the 2014 Master Plan, the site is zoned for 3-storey mixed landed residential use. Potentially, the land can accommodate 11 landed houses comprising 2 detached houses, a pair of semi-detached and 7 terraces.

The site is nestled within the established landed neighborhood in Seletar Hills in District 28. The immediate surroundings consist predominantly low density landed homes of bungalows, semi-detached and terrace houses on freehold or 999-year tenure. Some latest additions of landed and strata-titled homes include Luxus Hills, Este Villa and Belgravia Villas. It is well-served by public transport plying Yio Chu Kang Road and enjoys good connectivity via the Seletar and Central Expressways.

2F Gerald Crescent is situated in a quiet residential enclave with great growth potential. Known for its serene and tranquil living environment, Seletar Hills is fast transforming and gaining popularity benefitting from a multitude of amenities in the vicinity such as F&B choices along Jalan Kayu and Seletar Aerospace Park, shopping convenience at Seletar Mall and Greenwich V in addition to recreational options such as The Punggol Park Connector. It is also near the reputable Rosyth School, Lycee Francais De Singapour and Australia International School. The neighbouring Seletar Aerospace Park is expected to boost demand for housing attracting both local and foreign professionals.

Suzie Mok, senior director of Investment Sales at Savills Singapore who is handling the sale, commented, 'A substantial 999-year/freehold landed residential pocket such as 2F Gerald Crescent is a scarce find in the Seletar area given that such plots are tightly held and seldom made available for sale. It is also a rare opportunity to secure a decent size plot under single ownership for immediate redevelopment'.

She added, 'The site is expected to draw interest from a diverse group of buyers given the multiple redevelopment options. It will appeal to developers for potential subdivision into landed conventional housing schemes, Singaporean families for own stay/multi-generational living and wealth preservation for future generations, investors/high network buyers for landbanking and capital appreciation not excluding the likes of philanthropists'.

The vendor is expecting a price exceeding S$1,100 per sq ft on land.

The tender for 2F Gerald Crescent will close at 2.30pm on 22 March 2018.