[UPDATE] GCB at Windsor Park sold for $21.25 mil

SINGAPORE (EDGEPROP) - A Good Class Bungalow (GCB) at Windsor Park was just sold for $21.25 million at the end of May. The GCB sits on a freehold, elevated site of 19,986 sq ft. Hence, the price works out to $1,063 psf. The deal was said to be brokered by Realstar Premier Group, a specialist agency in landed property in the prime districts.

The buyer had viewed the property at Windsor Park Road before the circuit breaker came into effect on April 7. “Negotiations continued during the circuit breaker via Zoom,” says William Wong, managing director of Realstar Premier. “The deal was secured last month during the circuit breaker too.”

Although the bungalow was built more than 30 years ago, the structure is still sound, according to Wong. There is also a pavilion, which serves as an observation deck for the owner to enjoy the uninterrupted view of the surrounding greenery — the nearby Windsor Nature Park, which connects to the MacRitchie Reservoir Park, the Singapore Island Country Club and the Lower Pierce Reservoir Park. “It’s this view of the greenery and the reservoirs, the elevated site, and the long frontage that attracted the buyer,” Wong adds.

It is still unclear at this stage whether the new owner intends to keep the existing house, or tear it down and rebuild.

Across the road, the new owner of another GCB intends to do just that: to redevelop the property. The buyer had also purchased the property along Windsor Park Road during the circuit breaker period. He paid $21.68 million ($1,028 psf) for the 21,098 sq ft, freehold site in April, in a deal brokered by SRI. The buyer had purchased the property without having viewed it.

This latest transaction means that two GCBs were sold during the circuit breaker. Coincidentally, both are neighbouring properties located in Windsor Park Estate, off Upper Thomson Road, a quiet enclave that hasn't seen any transactions for the past two years.