52 Belmont Road (Picture: JLL)
SINGAPORE (EDGEPROP) - Two adjoining Good Class Bungalows (GCBs) at 52 and 54 Belmont Road are up for sale by expression of interest. The freehold properties sit on two separate land lots with a total land area of approximately 41,741 sq ft.
The vendors of the properties are expecting offers of $2,100 psf on the land areas, says Tan Hong Boon, executive director at JLL, which is marketing the GCBs. 52 Belmont Road has a land area of 24,178 sq ft, while 54 Belmont Road occupies 17,563 sq ft. This means the prices of the properties work out to $50.77 million and $36.88 million, respectively, or around $87.7 million collectively.
Map showing 52 Belmont Road (as marked). 54 Belmont Road is located to its right ((Source: EdgeProp LandLens)
The GCBs at 52 and 54 Belmont Road, situated near a cul-de-sac in Belmont Park, were built in the 1970s. 52 Belmont Road is a single-storey bungalow, while 54 Belmont Road is a single-storey house with a lower level. Both homes feature their own pools.
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“Potential buyers looking for large adjoining GCB plots in this highly desirable neighbourhood are well aware that such an offering is a rare find,” says Tan. He adds that potential buyers “are likely to redevelop the sites” to suit their needs and lifestyles.
Recent resale transactions on Belmont Road (Source: EdgeProp Research)
The expression of interest exercise for 52 and 54 Belmont Road will close on Oct 27 at 3pm.