SINGAPORE, 8 MARCH 2021 – EDMUND TIE as the sole marketing agent is pleased to offer two adjoining freehold good class bungalows (“GCB”) located at Ewart Park and Holland Road for sale via an Expression of Interest exercise.
Nestled within the tranquil and exclusive Ewart Park Good Class Bungalow Area, the offering comprises two adjoining good class bungalows – one located on a cul-de-sac at Ewart Park and another on a cul-de-sac at Holland Road. The site areas of the two freehold good class bungalows are approximately 17,300 sq ft and 15,500 sq ft respectively, adding up to a total site area of 32,800 sq ft. Each site accommodates a double-storey bungalow with four en-suite bedrooms and a swimming pool. Ideally located on a cul-de-sac, the two good class bungalows enjoy the best of privacy and exclusivity.
Shopping, dining, and recreational amenities are readily available in the immediate vicinity at Holland Village, Chip Bee Gardens and King Albert Park. The bungalows are also located within 1 km to Methodist Girls’ School and Henry Park Primary School. Other reputable educational institutions in the vicinity include Anglo-Chinese School, Nanyang Girls’ High School, Hwa Chong Institution and National Junior College.
Executive director of investment advisory, Ms Swee Shou Fern, commented: “Good class bungalows represent the most prestigious and coveted landed housing type in Singapore. There is a limited supply of only about 2,500 good class bungalows located within 39 gazetted good class bungalow areas. Opportunities to acquire adjoining good class bungalows as such do not come by often. This is ideal for multi-generational families wanting to live close to one another.”
In recent months, demand and sales momentum for good class bungalows has been buoyant, with a number of transactions recording new highs. Some of the notable transactions include 24 Gallop Road bought by the Haidilao family at $42m or $1,940 per square foot on land area, the highest land price for a GCB in that area. 5 Swettenham Close changed hands in January 2021 for $34.8m or a land rate of $2,893 psf. In the same month, a good class bungalow at King Albert Park transacted at $43.35m, reflecting $1,222 psf.
With increasing demand coming from the ultra high-net-worth local families looking to acquire a good class bungalow for their children or grandchildren, the new rich as well as new Singapore citizens, transaction volume and prices of good class bungalows are poised for further increase in 2021.
Interested parties may bid for either one or both the properties. The guide price is $35m for the good class bungalow at Ewart Park, and $31m for the one at Holland Park.
The Expression of Interest exercise will close on Wednesday 14 April, 2021 at 3pm.
For further information, please contact:
Wong Wei Chen
Senior Manager, Corporate Communications
O: +65 6393 2369