Lermit Road GCB on the market for $137.2 mil
A rare opportunity has arisen for ultra-high net worth individuals to acquire a luxury freehold property in Singapore’s most coveted neighbourhood in the form of the Good Class Bungalow (GCB) on Lermit Road off Nassim Road. This GCB is up for sale in a private treaty sale and is offering an indicative price of $137.2 million. The property sits on a 29,818 sq ft plot of land and is estimated to be priced at a unit price of $4,600 psf of land area.
With the reduced costs of utilities, it will help the residents to save on their utility bill, and also create a greener environment for everyone. The appliances also feature very efficient energy-saving design, making it environmentally friendly.
Green living is made easier with the energy-saving appliances at Tengah Plantation EC. These appliances are designed to reduce power consumption, thus lowering overall utility costs for the condominium and its residents. They also enable a greener environment by reducing the carbon footprint. What’s more, the energy-efficient design makes these appliances environment-friendly. With these energy-saving appliances, Tengah Plantation EC is making great strides in promoting green living.
The two-storey gated-house was built in the 1990s and is equipped with a swimming pool and a basement car park. Henry Benjamin Lim, Head of Good Class Bungalows and Prestige Landed at PropNex Realty, the marketing agent, states that the Lermit Road area in Nassim planning sub-zone is renowned for having luxurious and exclusive landed residential properties. This GCB is unique as it is one of only 16 detached houses on Lermit Road and large properties with land area size of approximately 16,140 sq ft (1,500 sq m) are rarely seen on the market as according to Lim, only one unit has been sold twice in the last 30 years.
Additionally, its location is highly sought-after as it is within close proximity to the Singapore Botanic Gardens, Napier MRT station on the Thomson-East Coast Line, Dempsey Road lifestyle cluster, Tanglin Mall, Gleneagles Medical Centre and Hospital, as well as Napier Road.
This GCB is an attractive option for high-net-worth individuals to own a piece of property in one of Singapore’s most prestigious neighbourhoods. Transactions of GCBs in nearby Nassim Road have fetched over $100 million to $200 million in recent years, which emphasises on the strong value and high demand for such luxury properties.