The 12,560 sqft site near the MRT station could be redeveloped.
A freehold bungalow plot at Sixth Avenue is up for sale at $16m, JLL said. The 12,560 sq ft property can only be bought by Singapore citizens as it is a landed residential site within the Good Class Bungalow (GCB) area.
According to an announcement, the site is currently occupied by a single-storey bungalow and is apt for redevelopment. It is only 350 meters away from the Sixth Avenue MRT station and is also nearby the Bukit Timah school belt.
Considering the asking price, the property reflects a land rate of $1,274 psf. It is one of about the estimated 2,800 GCB blots island-wide.
"At $16m for the land, this offering is an attractive price for buyers looking to enter the GCB market," JLL senior consultant Karamjit Singh said.
The Expression of Interest (EOI) for the property will close on 31 July.
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