{"id":80683,"date":"2018-02-22T10:49:06","date_gmt":"2018-02-22T03:49:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/bungalow-of-elderly-widow-duped-by-ex-tour-guide-on-sale-for-over-35-million\/"},"modified":"2018-02-22T11:03:01","modified_gmt":"2018-02-22T04:03:01","slug":"bungalow-of-elderly-widow-duped-by-ex-tour-guide-on-sale-for-over-35-million","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bungalow-of-elderly-widow-duped-by-ex-tour-guide-on-sale-for-over-35-million\/","title":{"rendered":"Bungalow of elderly widow duped by ex-tour guide on sale for over $35 million"},"content":{"rendered":"


\nThe sprawling 31,882 sq ft site (pictured) could be redeveloped to accommodate 11 landed homes. (Photo: Savills Singapore)
\n2F Gerald Crescent, a sprawling single-storey bungalow in Seletar Hills that has been the subject of much controversy, has been put up for sale by tender, with an asking price of about $35.07 million. This works out to around $1,100 psf on the land.
\nNestled on a 31,882 sq ft site, the house was previously owned by an elderly widow who was duped by ex-China tour guide Yang Yin. With the help of the widow\u2019s niece, Yang was convicted of criminal breach of trust and sentenced to an extended jail term of nine years, reported the Straits Times.
\nMarketing agent Savills Singapore noted that the site, which was zoned for three-storey mixed landed residential use under the 2014 Master Plan, can potentially \u201caccommodate 11 landed homes comprising two detached houses, a pair of semi-detached and seven terraces\u201d.
\n\u201cA 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,\u201d said Savills Singapore investment sales senior director Suzie Mok.
\nShe expects the site to attract the interest of a diverse group of buyers considering its multiple redevelopment options.
\n\u201cIt 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,\u201d she noted.
\nThe tender for 2F Gerald Crescent will close on 22 March.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Bungalow of elderly widow duped by ex-tour guide on sale for over million<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The sprawling 31,882 sq ft site (pictured) could be redeveloped to accommodate 11 landed homes....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-80683","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-kZl","jetpack-related-posts":[{"id":122448,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lee-hsien-yangs-caldecott-hill-bungalow-on-sale-for-16-8mil\/","url_meta":{"origin":80683,"position":0},"title":"Lee Hsien Yang\u2019s Caldecott Hill bungalow on sale for $16.8mil","date":"October 8, 2021","format":false,"excerpt":"\r The 9,888 sq ft two-storey detached house\u00a0is located in the Caldecott Hill GCB area. 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Located at 22 & 24 Jalan Lateh off\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-developer-pays-72m-for-prime-site-near-orchard-road\/","url_meta":{"origin":80683,"position":3},"title":"Malaysian developer pays $72m for prime site near Orchard Road","date":"June 8, 2017","format":false,"excerpt":"\r The 17,442 sq ft site could be developed into a new condominium of up to 36 storeys high. (Photo: Savills Singapore) Champsworth Development, a subsidiary of Malaysian property developer Selangor Dredging Berhad, has bought the prime freehold 1 Draycott Park apartment in District 10 for $72 million, said marketing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100098,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/serangoon-gardens-house-up-for-sale-at-11-5m\/","url_meta":{"origin":80683,"position":4},"title":"Serangoon Gardens house up for sale at $11.5m","date":"October 18, 2018","format":false,"excerpt":"\r The asking price for the single-storey property at Berwick Drive works out to a land rate of $1,085 psf. (Photo: Savills Singapore) A single-storey detached house at 18\/20 Berwick Drive has been launched for sale, with a price tag of $11.5 million, or $1,085 psf, revealed marketing agent Savills\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nassim-road-gcb-for-sale-for-175m\/","url_meta":{"origin":80683,"position":5},"title":"Nassim Road GCB for sale for $175m","date":"October 17, 2019","format":false,"excerpt":"\r The two-storey bungalow has a total floor area of about 13,839 sq ft and\u00a0is a mere five-minute walk to the Botanic Gardens, and is a 10 minutes\u2019 drive to the CBD. 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