An expression of interest (EOI) exercise has been launched to sell a Good Class Bungalow (GCB) in the coveted Dalve Estate-Nassim Road enclave. The property, marketed by Cushman & Wakefield, has an indicative price of $60 million, which translates to $2,742 per square foot (psf) based on its land area of 21,881 sq ft.
According to Shaun Poh, executive director of capital markets at Cushman & Wakefield, the freehold plot sits on elevated ground and is ideal for redevelopment. He believes it will appeal to buyers looking to build their dream multi-generational home or developers seeking to create a luxury GCB for discerning individuals.
The GCB is situated next to the renowned Singapore Botanic Gardens and is just a short drive away from the bustling Orchard Road shopping district. It is also within 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 notes that the neighborhood is highly sought-after by ultra-high net worth individuals, evident from recent record-breaking transactions in neighboring Nassim Road and Tanglin Hill, with land rates reaching $4,500 psf and $6,200 psf respectively.
Interested parties can submit their EOI for the property by 3pm on Feb 11.