Artist's impression of the proposed Gallop Park Road Bungalow (Picture: JDB Design and Build)
A proposed bungalow on a freehold plot along Gallop Park Road is up for sale, according to a June 16 press release by marketing agent Huttons Asia. The new-build property is priced at $49 million, which translates to $3,304 psf on its land area of 14,832 sq ft.
Alternatively, buyers who wish to design and build their own bespoke home may opt to purchase the site as a land-only acquisition at $32 million, says Huttons. The price works out to a land rate of $2,157 psf.
The proposed bungalow for the site is a two-storey house with a built-up area of 25,200 sq ft. It features five ensuite bedrooms, a helper’s room, and formal living and dining areas that overlook a swimming pool and garden.
Read also: Hedge fund manager’s Good Class Bungalow at Gallop Park sold for $58 mil
Other features of the home include a car porch that can accommodate up to six vehicles, separate wet and dry kitchens, and a double-volume entrance foyer. There is also a family lounge, an outdoor entertainment pavilion, and an ensuite guest wing.
The property is located within the Gallop Road-Woollerton Park Good Class Bungalow (GCB) area, where transactions are rare, according to Mey Lim, associate division director at Huttons Asia. “Properties within the Gallop Road-Woollerton Park GCB area are among the most tightly held in Singapore," she says.
Lawrence See, senior group district director at the company, adds that the last caveated transaction in the area was for a detached house that sold in January. The freehold property with a land area of 15,257 sq ft fetched $31.5 million ($2,065 psf).
Last year, EdgeProp Singapore reported the sale of a GCB at Gallop Park for $58 million. Spanning a land area of 16,306 sq ft, the price worked out to $3,557 psf.
Located in District 10, the property is within walking distance of the Singapore Botanic Gardens, while retail and lifestyle options at Holland Village and Orchard Road are a short drive away. In addition, Hwa Chong Institution, Nanyang Primary School, Raffles Girls' Primary School and St Margaret's School are located within 1 to 2 km of the property.