GCB at Binjai Park going for $40 mil

By
/ EdgeProp
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January 23, 2019 4:11 PM SGT
A seven-year-old Good Class Bungalow in the exclusive Binjai Park GCB area is on the market for $40 million. Located at 98 Binjai Park, the freehold property sits on a 27,320 sq ft plot which includes a 45m road frontage. The guide price translates to $1,464 psf on the land area.
The house has a total floor area of 13,986 sq ft across two storeys, and features seven en suite bedrooms, two study rooms, a dining room, an entertainment room, a gym, and two helper’s rooms. A large car porch and garage accommodates 20 cars.
Located at 98 Binjai Park, the freehold property sits on a 27,320 sq ft plot which includes a 45m road frontage (Picture: CBRE)
The GCB is being sold with vacant possession and is available for immediate occupation. The house is an “optimal choice” for multi-generational families, given the lavish communal spaces and large number of rooms, as well as the privacy that comes with a low-density neighbourhood, says Sammi Lim, director of capital markets at CBRE, the marketing agent.
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“Due to its scarcity and exclusivity, the GCB market in Singapore has always been a unique asset class that is consistently sought after by high net worth individuals,” she says. The GCB market has also proven to be a resilient asset class through property market cycles, and “strong underlying fundamentals” will support GCB demand and its capital appreciation, she adds.
The public tender will close on March 1.