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A luxurious Good Class Bungalow (GCB) located in the prestigious Dalve Estate-Nassim Road enclave has been put up for sale through an expression of interest (EOI) exercise, with a indicative price of $60 million. According to a press release on Jan 8 by Cushman & Wakefield, the price equates to $2,742 per square foot (psf), taking into account a land area of 21,881 square feet.
Executive director of capital markets at Cushman & Wakefield, Shaun Poh, explains that the freehold plot sits on elevated ground, making it an ideal choice for redevelopment. He further adds, “It is the perfect opportunity for buyers seeking to build their dream multi-generational home from scratch, or for developers to create a luxurious and modern GCB for discerning individuals.”
The property boasts a prime location, adjacent to the renowned Singapore Botanic Gardens and a short drive away from the popular Orchard Road shopping belt. It is also conveniently situated near esteemed schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution, and Hwa Chong Institution.
Poh also notes, “The surrounding area is highly coveted among ultra-high net worth individuals, as seen in recent transactions at Nassim Road and Tanglin Hill, where record-breaking land prices of $4,500 psf and $6,200 psf were achieved respectively.”
Interested parties can submit their offers for the property through the EOI exercise, which will close on Feb 11 at 3pm. This sale comes on the heels of the successful sale of OK Lim’s GCB at Tanglin Hill, bringing the total amount raised from seized assets to $99.09 million.