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 an estimated price of $60 million. This translates to $2,742 per square foot (psf), taking into account the land area of 21,881 square feet, according to a press release by Cushman & Wakefield on Jan 8.
Shaun Poh, the executive director of capital markets at Cushman & Wakefield, highlights the prime location of the freehold plot, which sits on elevated ground, making it ideal for redevelopment. He notes that the property is perfect for buyers who want to custom-build their ideal multi-generational home, or for developers looking to create a luxurious and state-of-the-art GCB for discerning individuals.
The GCB is situated near the renowned Singapore Botanic Gardens and is only a short drive away from the popular Orchard Road shopping belt. It is also in close proximity to prestigious schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution, and Hwa Chong Institution.
Poh also emphasizes that the neighbourhood is highly sought-after by ultra-high net worth individuals, as seen in recent record-breaking transactions at Nassim Road and Tanglin Hill, where land rates reached $4,500 psf and $6,200 psf respectively.
Interested parties can submit their offers through the EOI exercise, which will close on Feb 11 at 3pm.