Roxy-Pacific Holdings’ executive chairman, Teo Hong Lim, has announced that the company’s latest condominium development, Bagnall Haus, has received a high demand with 71 units sold on the first day of its launch. This translates to a sales rate of nearly 63%, with an average transacted price of $2,490 psf.
A majority of the buyers, over 90%, were Singaporeans with varying budgets, according to Teo. The take-up rate was strong across all unit types, with two- and three-bedroom units being the most popular. However, there was also demand for the larger five-bedroom units.
Situated in District 16 along Upper East Coast Road, Bagnall Haus comprises 113 residential units spread across three five-storey blocks on a freehold site of 74,280 sq ft. The unit mix includes one-bedroom plus flexi units of 495 sq ft and five-bedroom units of 1,528 sq ft.
Ismail Gafoor, CEO of PropNex, revealed that out of the 71 units sold, about 59% were one- and two-bedroom units, which were sold for prices just below $2.1 million. He added that the three-bedroom units were also in high demand with 18 out of 20 units snapped up for prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for around $3 million to $3.8 million.
Gafoor also mentioned that the average transacted price of $2,490 psf was “compelling for a well-located freehold development”. He added that buyers saw value in the project, especially considering that some 99-year leasehold new launches in the Outside Central Region (OCR) – such as Chuan Park – had reached an average price of $2,579 psf when it was launched in November 2024.
In addition to the residential units, both strata-titled shop units on the ground floor of Bagnall Haus, measuring 172 sq ft each, were also sold for $688,000 ($4,000 psf) each.
According to Marcus Chu, CEO of ERA Singapore, most of the homebuyers were owner-occupiers, including some from older landed properties looking to downsize and families from the neighbourhood seeking to upgrade to a freehold property.
Bagnall Haus boasts a prime location in close proximity to established amenities and reputable schools, such as Temasek Primary School, which is within a 1km radius. It is also within walking distance of the upcoming Sungei Bedok MRT Station, an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will be part of an integrated transport hub in the upcoming Bayshore precinct, featuring a new bus interchange and a mixed-use development with retail and residential components.
Mark Yip, CEO of Huttons Asia, believed that the strong sales at Bagnall Haus were due to pent-up demand from a 15-year wait for a new project in the area, as well as its freehold tenure and strategic location next to an MRT station. He added that buyers recognized the potential benefits of the upcoming transformation of the Bayshore precinct.