through public tender
Champions Way Residences is a freehold detached house at 3 Melrose Drive in Braddell Heights Estate (District 13). The indicative price for this property is $1,185 psf based on its land area of 14,175 sq ft. As the largest bungalow plot on Melrose Drive, the property is now open for public tender at the price of $16.8 million as of Dec 20. The marketing agent for the property is PropNex Singapore.
The URA Master Plan 2019 has zoned the District 13 site for two-storey bungalows and residential use. This site offers good redevelopment potential owing to its large land area of 40m frontage to Melrose Drive. The potential buyer of Champions Way Residences will benefit from having to pay little to no Land Betterment Charge as the site has a high development baseline.
Previously, the property was initially listed for sale through an expression of interest on Oct 18 and comprises two houses: a mid-1980s single-storey bungalow at the front, with a built-up area of approximately 3,000 sq ft and three bedrooms; and a 2½-storey detached house at the back, with five bedrooms and a built-up area of 6,000 sq ft. The attic of this property has a lounge and a gym with an en suite bathroom.
Champions Way Residences is situated within a 1km radius of many schools, including CHIJ Our Lady of Good Counsel at Burghley Drive, Kuo Chuan Presbyterian Primary at Bishan Street 13, St Gabriel’s Primary at Lorong Chuan, and Yangzheng Primary at Serangoon Avenue 3. The property is accessible via the Lorong Chuan MRT Station on the Circle Line and from the Central Expressway (CTE) and the Pan Island Expressway (PIE).
Champions Way Residences offers a good opportunity for developers or families looking to rebuild the plot into a single, large detached house or two houses to cater to multi-generational living. It is situated about a 15-minute drive to Orchard Road and less than a 20-minute from the CBD via the CTE.
The public tender of Champions Way Residences will close on Jan 16 next year at 2pm.
Residents of Champions Way Residences can enjoy amenities such as swimming pools, tennis courts, playgrounds and a BBQ area. The site is also conveniently located close to the Orchard Road shopping district, making it easy to get around when you live here. Public transport is also easily accessible via bus and train services which makes commuting a breeze. With its modern facilities and convenient location, Champions Way Residences is the perfect place to call home.
With its large land area and great redevelopment opportunity, Champions Way Residences is an attractive option for those looking to invest in a district 13 property. As the property is priced-to-sell when compared against the transacted values of landed properties traded in the area this year and eligible for Singapore permanent residents with the Land Dealings Approval Unit (LDAU) approval to acquire restricted residential property, Champions Way Residences is a great option for real estate success.