Updated from : The Business Times, 9 Mar 2021
TWO adjoining Good Class Bungalows (GCBs) on Ewart Park and Holland Road have been put up for sale with an indicative price tag of S$35 million and S$31 million respectively, said sole marketing agent Edmund Tie on Monday.
Both freeholds have a total site area of 32,800 square feet (sq ft) – the GCB on Ewart Park occupies an area of 17,300 sq ft, while the Holland Road GCB spans 15,500 sq ft. This brings the average price per square foot (psf) to about S$2,023 and S$2,000 respectively.
Featuring a double-storey bungalow with four en-suite bedrooms and a swimming pool on both sites, the two GCBs situated on a cul-de-sac will allow owners the best of privacy and exclusivity, said Edmund Tie in a statement.
The bungalows are situated within a one-kilometre proximity from Methodist Girls’ School and Henry Park Primary School, with amenities such as shopping and dining readily available in the immediate vicinity at Holland Village, Chip Bee Gardens and King Albert Park.
Swee Shou Fern, executive director of investment advisory at Edmund Tie, recommended the property, which is nestled in the Ewart Park GCB Area, for multi-generational families wanting to live close to one another.
“There is a limited supply of only about 2,500 Good Class Bungalows located within 39 gazetted Good Class Bungalow Areas,” said Ms Swee.
“Opportunities to acquire adjoining Good Class Bungalows as such do not come by often.”
Sales momentum for GCBs have been buoyant, with some S$424 million of deals in GCB Areas being transacted in the first two months this year – nearly 40 per cent of the tally for the whole of last year. Some notable transactions include 24 Gallop Road bought by the Haidilao family at S$42 million, or S$1,940 psf on land area, the highest land price for a GCB in that area, and one on King Albert Park which transacted at nearly S$43.4 million.
The adjoining bungalows are available via an expression of interest exercise which will close on April 14 at 3pm. Buyers may bid for either one or both of the properties.