This is a review of a freehold, landed property in Greenbank Park which is currently marketed by Estate Magnates. This is to provide potential buyers with a more in-depth view of the property and have all the details needed to make a well-informed decision. The full listing can be found here on PropertyGuru. Should you require more information, feel free to write to estatemagnates@gmail.com or contact Joshua Loo at +6596329840!
UPDATE: House has been sold. Thank you for reading.
Technical Specifications
✅ Freehold
✅ District 21
✅ House is built-in
✅ 3 1/2 stories bungalow with a basement, slightly elevated land
✅ House has an elevator to all levels
✅ The land is elongated in shape w a nice wide frontage of 131m
✅ Beautiful mature garden
✅ Land Size: 18,758sq ft (Biggest in Greenbank Park)
✅ Built-up approx 10,000sf (With the potential for increase subject to PE endorsement)
✅ 1st Level - Big living and dining area with 1 big bedroom with en-suite & 1 helper’s room with separate bathroom.
✅ 1st Level - Wet & dry kitchen
✅ 2nd Level - Huge master bedroom ensuite with a walk-in wardrobe, 2nd huge bedroom ensuite
✅ 3rd Level - Self-contained w Living & Dining
✅ 3rd Level - 2 common rooms en-suite and 1 huge master bedroom en-suite
✅ The basement has 5 bedrooms and 1 huge entertainment room
✅ Total bedrooms: 11 bedrooms
✅ Asking $14,188,888 million
✅ Valuation in 2020 is $18 Million
Note: All land and build areas are estimated and subject to final on-site survey and verification
Introduction
Greenbank Park is often overshadowed by other more popular landed housing areas such as the nearby Mayfair Park, Hong Kong Park and the GCB areas Binjai Park, Swiss Club Road and Kilburn Estate. These landed housing areas have better accessibility and prestige.
With this in mind, why will anyone be interested in the Greenbank Park landed housing area? There are some attractive qualities to this landed property that I am marketing, so let’s get started!
Largest, Only Detached Housing in Greenbank Park
From the control plans for Greenbank Park, most of the land plots will be semi-detached houses will be up to 3-stories. However, this property being marketed is a detached house with no shared party wall.
Attractive Price
In comparison to nearby landed housing estates, Greenbank Park boasts one of the lowest average PSF. For Hua Guan Gardens, this area should not be in comparison to Greenbank Park as it has mostly smaller terrace houses.
The last valuation done for this detached landed home at Greenbank Park is $18 million (2020). Therefore, an asking price of $14.18 mil (Negotiable) should be very attractive to the right buyer.
Interior Profile
There are no pictures in some areas of the house such as the bedrooms. The house is currently owner-occupied and sensitive areas are not shown. Do contact me if you are interested in viewing.
The interiors are kept in exceptional condition given the current age of the building (2001). High-quality materials such as marble flooring and timber are used. In my opinion, these provide a timeless look but younger buyers might prefer a more updated look.
There is a home lift that provides access to all levels of the home.
Driveway/Car Porch
Currently, there is a sheltered area for the residents to park up to three cars under the shelter. The entire driveway will enable you to park more cars, about 4-5 in total.
Garden
This is probably the stand out feature of the land, as it shows a sprawling 10,000 sqft of land! This makes it a suitable piece of land for buyers who have a preference for landscaping over maximising potential GFA.
Other options, subject to authority’s approval,
An extensive car porch for car lovers (potentially 10-12 cars or more!)
Lap pool of approximately 75 metres
Rebuild Potential/ Works Required
Although it was last rebuilt in 2001, the house is still in good condition with exquisite, high-quality fittings. If you are still intending for works to be done on it, do take note that the full 18,758 sqft land area of approximately ~7,800 sqft can be used for the rebuild. The total rebuild can potentially be close to ~20,000 sqft, which is still entirely spacious. This is based on an assessment of 3 Storeys with attic and basement.
From the image above, possible expansion of the GFA can be done here, subjected to further assessment of architects and builders.
The reason why such a huge build-up can be done is because the property is located in a 3-storey semi-detached area. There are not many 3-storey semi-detached areas in Singapore, and most are only up to 2-storeys.
Furthermore, this land is classified as a detached property, which makes the potential built-up even bigger.
However, do take note that the Garden area is not approved for works that might increase the GFA.
If you are intending to proceed with building works, be prepared to spend a ballpark figure of approximately ~$5 million. Do take note that this cost is a rough approximation and you should always consult an architect/builder of the costs.
If you require a referral to qualified builders, feel free to contact me.
The house has been kept in good condition; however, the interior design might look a little dated to some due to the combination of dark wood furniture and fittings. I believe this is easily rectified without many additional costs by hiring a good interior designer to “modernize” the look.
My approximation of such interior works can be placed between $200-$500k, depending on the number of works and quality of materials.
To reduce cost, I feel that the marble flooring should be left as it is.
Located Beside PIE
As the property is located along the PIE (26 metres away), do expect some traffic noise. However, the current owners of the property have mentioned that it is silent inside the house.
Noise barriers are installed throughout the entire length of the expressway which will helps tremendously.
If you feel that this might be a concern, feel free to come down for on-site viewing.
Poor Accessibility
Walking to King Albert Park will take you half an hour, so it is not advised. Residents are highly encouraged to have their transportation options.
Conclusion
Properties within Greenbank Park belongs to a selected niche of high-net-worth individuals who prefer living quietly away from the city. Landed houses in Greenbank Park are seldom available on the market, and interested parties should seize this opportunity.
This sprawling piece of land enables future buyers to build the house of their dreams, at the fraction of what a land size of this property will usually cost.
However, the interiors are slightly dated and that some work might be required.
Increasing the overall GFA should be possible, but do take note that the elongated portion of land is not approved for works.
Did you enjoy reading this review? Allow me to provide something similar to your property! I provide long-form articles as a form of extended listing for my sellers, and I find them to be effective in standing out in the property market.
If you are an interested buyer, feel free to contact me at +6596329840 or Joshua.loo@orangetee.com to arrange for on-site viewing.
The views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee, or other group or individual. The author does not accept any responsibility whatsoever for any harm or loss arising from accessing or relying on information contained in this blog post.