Good Class Bungalow in Bukit Panjang and shophouse at Neil Road up for auction

The GCB at 7 Chestnut Crescent is up for auction with an asking price of of $9 million (Credit: Colliers International)
SINGAPORE (EDGEPROP) - A Good Class Bungalow (GCB) at 7 Chestnut Crescent in Bukit Panjang and a conservation two-storey shophouse at 65 Neil Road will be put up for auction on Sept 30. There are 39 gazetted GCB areas in Singapore, of which the highly sought-after locations are the Nassim, White House Park and Dalvey neighbourhoods.
“GCBs are seen as the crème de la crème of the Singapore property market and this presents a rare chance to own a GCB at a relatively affordable price. A key attraction lies in its redevelopment potential – from the current single-storey home to a 2½- storey luxury property,” says Steven Tan, director of capital markets and investment services at Colliers International.
Subject to relevant approvals, the buyer may also acquire an adjacent state land that spans 263.5 sq m (about 2,836 sq ft), which could help to lower the overall effective land rate below $975 psf, notes Tan.
The GCB put up for auction is set in a tranquil neighbourhood. It is a short drive from the Dairy Farm Quarry and Bukit Timah Nature Reserve. Other amenities in the vicinity include Hillion Mall, Petir Park, Pang Sua Pond, and schools such as Bukit Panjang Primary School, Assumption English School, CHIJ Our Lady Queen of Peace, and Fajar Secondary School.
The property is close to several train stations such as Cashew and Bukit Panjang MRT Stations on the Downtown Line, and Pending LRT Station.
For price trends, recent transactions, other project info, check out the GCB at Chestnut Crescent and Shophouse at Neil Road research page
The conservation two-storey shophouse with attic that will be up for auction is in Outram and within the Chinatown-Tanjong Pagar Conservation Area (Credit: Colliers International)
Meanwhile, the conservation two-storey shophouse with attic also up for auction is in Outram and within the Chinatown-Tanjong Pagar Conservation Area. The owner is asking for at least $8 million ($2,800 psf). The shophouse has a gross floor...