With one of the largest plots facing onto The Address Montgomerie Dubai, this five bedroom villa is a golfer’s dream.
Set in, arguably, Dubai’s finest freehold development, Emirates Hills, it is on the market for Dh54 million. But the price is not just for the villa, swimming pool, landscaped grounds and views of the golf course but also for the neighbouring plot, which has the potential to be developed subject to approval.
The plots have no dividing wall and, in its current configuration, the ‘second’ plot is home to the swimming pool and pool house which also doubles as a gym.
The total size of the developed plot is 16,100 square feet with an identical size for the adjacent plot giving a total size of 32,200 sq ft. The sale has the potential for merging the two plots together to create a property of overwhelming size and substance or separating the two plots and selling either one independently.
While there is no written consent for the second plot to be developed, according to Knight Frank, the agent marketing the property, the developer Emaar has stated that any future development will have to include the 700 sq ft pool house, which is currently occupying the space.
Built in 2002 as Dubai’s first freehold project, Emirates Hills was sold off as plots rather than completed houses, allowing each buyer to create their own particular style.
The villa itself has a built-up area of 10,000 sq ft and includes five large bedrooms, four reception rooms with views over the garden and onto the Montgomerie golf course. There is also staff accommodation along with a kitchen and utility room.
To the front of the property, there is parking for numerous cars as well as a garage.
The second plot hosts a 700 sq ft pool house, which also comes with kitchen and bathroom facilities, a large private swimming pool, and landscaped gardens - ideal for entertaining guests and family events. For buyers that are also golf enthusiasts, the garden boundary offers 257ft of frontage to the Montgomerie Golf Course.
Greg Lewis, senior negotiator for Knight Frank, reveals more about the Dh54m villa in Dubai’s Emirates Hills:
Is this a good deal or a bad deal?
It’s a fantastic deal if you do the math. The price tag means you will be getting a major villa in one of the best developments in Dubai – that would cost about Dh35 million on its own. Plus there is the opportunity to either redevelop the whole plot, sell the villa you have just bought and develop your own, or keep the villa and sell the land for development, – whatever the buyer chooses, there is a bonus.
Can I not just buy the villa?
The US owner will not countenance selling the plots independently and the swimming pool, pool house/gymnasium and established gardens are an incredible attachment to the villa. Of the 620 villas in Emirates Hills, this has to have one of the largest frontages onto the Montgomerie Golf Course. While Emaar have not officially sanctioned development on the second plot, in conversations with the realtor it stated any development must include the 700 sq ft pool house that has already been built on the plot.
But the real estate market isn’t the best at the moment is it?
Super prime property – such as Emirates Hills – has actually seen an increase in transactions versus last year. The sector has averaged 18 transactions a month this year against 14 a month last year.
But the values are falling?
We have seen 2.3 per cent fall this quarter versus the third quarter.
Comments ( 0 )
Post a Comment