For sale at $2.8 million is a heritage bungalow inside Torieview Mansions

, ,

Check this out: Branksome Road freehold detached home listed for $10.8 million

Branksome Road freehold detached home listed for $10.8 million

A two-storey house located in the Torieview Mansions which is an apartment complex that is freehold located on Lorong 29 Geylang, will be auctioned off by the auctioneers at Knight Frank Singapore on April 20. A auction house, this property has a surface of 2,271 square feet and a suggested price that is $2.8 million. This is equivalent to $1,233 per square foot in the floor area.

The three-bedroom strata-landed home was one of the two conserving bungalows located on the freehold site prior to when the complex of apartments was built. Torieview Mansions which included two houses as well as an apartment block with eight floors was completed in the year 1995.

The access to the bungalows is via a double volume access point and a driveway which runs through the block of apartments.

A handful of renovated sites in Singapore are able to share this blend of old conservation structures and new residential developments, and the majority of them are condos rather than apartments, according to Knight Frank’s director of auction and sales for auctions as well as sale Sharon Lee. Redevelopments that incorporate conservation buildings include the luxurious Grand Duchess of St Patrick’s on St Patrick’s Road, Mountbatten Lights on Mountbatten Road, The Sea View at Amber Road, Draycott Eight at Draycott Park and Klimt Cairnhill on Cairnhill Road. A large number of the preserved bungalows were converted into clubhouses during these developments.

The 28,353 square feet site located at Torieview Mansions is categorised as an “site with buildings that are conserved” in the Geylang Secondary Settlement by URA. It is also among many conservation sites within Geylang Road Conservation Area. Geylang Road conservation area, that is bounded with Sims Way and Paya Lebar Road. A mixture of bungalows with low-rises and rows of shophouses are the main features of the architecture of the conservation area.

The time that Torieview Mansions was completed in 1995, the geometric pilaster was a feature of the bungalows. It featured beautiful grooves, grand capitals with moulded lines, and an amalgamation of modern and traditional styles. It was retained to fulfill the conservation need of the buildings.

Knight Frank’s Lee believes that this distinctive property is a great choice for owners who are attracted to the glamour and style of living in an historic property as well as investors who wish to add a small part of Singapore’s architectural history in their portfolio.

Additionally, the limited inventory of conservation properties offers buyers to benefit from an appreciation in capital property property can produce in the long term Lee says Lee. Lee says the property is also available to buyers from abroad.

Based on URA restrictions that neither bungalow has been sold in longer than twenty years. The house in the estate sale was purchased prior to 1995, however sales records for purchases made prior to this year aren’t available since they were not yet digitalized. The house next door was bought for $718,000 ($319 per sq ft) in 1999.

Torieview Mansions has recorded strong price increases over the last two decades. The month of March in 2003 saw the median price for the property was $412 per square foot. It climbed to $542 psf by March 2012, and then increasing to $1,085 psf in March of this year.

The efforts to conserve and restore in the Torieview Mansions were recognised at the URA Architectural Heritage Awards in 1996.