Uncompleted GCB on Chestnut Drive going for $38.88 mil
The prestigious Good Class Bungalow (GCB) segment in Singapore is getting a pricier entry point, as an uncompleted GCB on Chestnut Drive in Bukit Panjang has been put up for sale for $38.88 million. The sole marketing agent, PropNex Realty, Tengah Plantation EC revealed the price translates to about $2,677 psf on the land area of 14,526 sq ft.
Located in the Chestnut Avenue GCB area, the 999-year leasehold property is the only one of its kind in the area. Henry Benjamin, head of GCB and prestige landed at PropNex, says this is among the lowest prices compared to those in District 10 and District 11 and explains brand-new GCBs are highly sought after.
PropNex Realty also revealed the property will comprise six ensuite bedrooms, a theatre hall, a swimming pool with cascading water feature, a fully equipped wet and dry kitchen and provision for a gym or entertainment area. Additionally, you can look forward to solar panels and a smart home system.
Once completed, the new-build GCB is expected to attain its temporary occupation permit (TOP) next year, with a built-up area of 19,481 sq ft – translating to $1,996 psf.
The site is currently being sold via private treaty, presenting a rare opportunity to buy into the GCB scene.