The GCB at Joan Road in Caldecott Hill Estate that gets on the marketplace for $48 million

At Caldecott Hill Estate, a Good Class Bungalow (GCB) along Joan Road has been put up for sale. The six-bedroom, double-storey cottage was built in the 1960s as a family members residence. The yard has fruit trees and a badminton court, which has long been disused.

The Panorama Ang Mo Kio Floor Plans

The Panorama is located in an established residential neighbourhood in Ang Mo Kio. It is situated on a 99-year-leasehold site of 198,942 square feet. Moreover, the development is within easy reach of amenities such as Ang Mo Kio MRT station, Anderson Junior College, Nanyang Polytechnic, and James Cook University campus. Hence, it’s convenient for residents to commute to different parts of the city. Please see Condo Launch showflat here

The Panorama Ang Mo Kio is a 99-year-leasehold condominium located at Ang-Mo-Kio Avenue 2, District 20 of Singapore. It is developed by PINEHILL INVESTMENTS PTE LTD and consists of 698 mixed-use units. Each unit comes with a 99-year lease period starting April 2013 and ending in 2019. The development features a clubhouse and spa on the ground floor. The Panorama is set on 198-square-meters of land, allowing for generous landscaping.

The initial owner is a distinguished accounting professional that was also an independent supervisor of several noted companies well right into his 90s. Now a centenarian, he has handed over the home to his 3 kids, providing each a one-third share.

The owners have chosen to offer the building as there are only 3 elderly persons residing in the house, claims Mary Sai, executive supervisor of capital markets at Knight Frank, the exclusive advertising and marketing firm for the residential property. “Some of the relative have emigrated, others have residences of their own,” she says.

The home remains on an acreage of 29,483 sq ft and also has gotten in-principal approval for potential sub-division and redevelopment right into two GCBs (Photo: Albert Chua/EdgeProp Singapore).
The cottage remains on a property site of 29,483 sq ft. The residential or commercial property has a 53m frontage as well as a depth of 55.4 m, according to EdgeProp Inspector. The asking rate of the residential or commercial property is $48 million ($ 1,628 psf).

The proprietors have obtained in-principle authorization to redevelop the website right into two smaller GCBs. The property would certainly appeal to those looking for cottage plots of regarding 30,000 sq feet, with the possibility for redevelopment right into 2 cottages for extensive families that want to live next to each other, believes Sai.

The truth that the site can be subdivided right into two GCBs will additionally attract home designers, she includes. While the existing accessibility to the home is from Joan Road, the future owner can develop a second accessibility point from Olive Road, based on approval from authorities, according to Sai.
The old badminton court in the garden.

The neighbouring Olive Road has seen two record-breaking GCB bargains over the past 12 months. In April, a GCB remaining on an estate, 27,909 sq ft site transformed hands for $50.24 million ($ 1,800 psf), identical to the greatest purchase in the neighbourhood in absolute terms. In June in 2014, one more GCB remaining on a 23,424 sq ft, estate site fetched $36 million ($ 1,537 psf).

Since last June, 8 bungalows have transformed hands at Caldecott Hill Estate completing $184.58 million, based upon cautions lodged to day. 3 of the eight were transacted in simply the first 4 months of 2022.

Sai sees Caldecott Hill Estate bring in even more rate of interest as a result of the potential redevelopment of the former 752,021 sq ft Caldecott Broadcast Centre right into 15 GCBs of a minimum of 15,070 sq ft by developer-owner Perennial Holdings. These GCBs will be 99-year leasehold rather than freehold.

The GCB at Joan Road has a 53m frontage and depth of 55.4 m.
” There is a market for such leasehold GCBs, especially among brand-new Singapore citizens,” keeps in mind Sai. She expects the redevelopment of the previous Caldecott Broadcast Centre to boost the exclusivity of the Caldecott Hill Estate. The improved infrastructure, with the nearby Caldecott MRT Station coming to be an interchange for the Circle Line and also upcoming Thomson-East Coast Line, will certainly additionally make it extra obtainable as well as hence enhance the value of the location, she adds.

” Well-located GCBs like the one on Joan Road remain extremely searched for as they are snugly held for lasting riches preservation and also resources admiration,” according to Sai.

Provided the restricted schedule of prime landed residences, combined with solid need from international ultra-high-net-worth families that are willing to pay rental premiums for such buildings, Nicholas Keong, head of private office, Knight Frank Singapore, expects the GCB “to attract strong rate of interest”.
The GCB at Joan Road is readily available up for sale by personal treaty.

At Caldecott Hill Estate, a Good Class Bungalow (GCB) along Joan Road has been put up for sale. The adjoining Olive Road has seen two record-breaking GCB bargains over the past 12 months. In April, a GCB resting on a freehold, 27,909 sq feet website altered hands for $50.24 million ($ 1,800 psf), parallel to the greatest deal in the area in outright terms. In June last year, an additional GCB resting on a 23,424 sq ft, freehold website brought $36 million ($ 1,537 psf).

The GCB at Joan Road has a 53m frontage and depth of 55.4 m.
” There is a market for such leasehold GCBs, especially particularly new Singapore citizensPeople” notes Sai.