Rare redevelopment opportunity for Raffles Park GCB, priced from $2,330 psf
Enjoy GCB living in Rochalie Drive with this historic site on the market for $55MSituated in the hilly ground of District 11, the 11,070 sq ft Raffles Park GCB Area is on the market starting from $25.8 million. At a land rate of $2,330 psf, this property is a prime example of the incredible opportunity that is available to those who are looking to own a Good Class Bungalow (GCB) in Singapore.
Exclusively marketed by Paulyn Chew, senior marketing director at ERA Realty Network, this land is already primed for redevelopment, offering the chance to build a luxurious new GCB to fit any desired lifestyle. This rare opportunity comes with a rectangular-shaped plot which a commanding street frontage of 29.87m, making it a highly desirable site in the area.
The GCB, built 25 years ago by American architect Dan Bube, exudes a lovely Spanish-American style. Designed with two separate residential wings, the roof and floor of the left wing was renovated in 2013. While maintained and well-kept over the years, the potential of this property is just waiting to be realised.
Having been with the family for 70 years, the owners are now reluctantly yet understandably looking to realise the capital value of the property. Located in Bukit Timah, the GCB has excellent proximity to major schools such as Raffles Girls’ Primary School, Nanyang Girls’ High School, Nanyang Primary School, Hwa Chong Institution, St Margaret’s Secondary School and Methodist Girls’ School.
Adding to its appeal, nearby Sixth Avenue and Tan Kah Kee MRT stations and the Pan Island Expressway (PIE) allow for convenience and better connectivity. As if that wasn’t enough, you can look forward to finding a variety of amenities and F&B options within the shophouses along Greenwood Avenue, a short 10-minute walk away.
With some GCB transactions in the area going for as high as $2,700 psf to $3,000 psf, the owners are pricing this GCB competitively to attract serious buyers. This is within the range of independent valuations which range between $24.8 million and $25.7 million.
As construction costs vary depending on the materials, interior fitouts and design, the new owner could expect to build their dream home from around $700 psf. This brings the potential to create a trophy home that is on par with other GCBs in the area.
URA caveats reflect Raffles Park’s gradual land price increase, with the first GCB selling for over $2,700 psf last year. With the high demand for GCB and existing owners preferring to keep their trophy properties, the number of GCB available on the market is scarce. Chew states that buyers keen to acquire a GCB this year should seriously consider this opportunity before it is sold.
Disclaimer: All land and build-up areas are in appropriate measurements and subject to final on-site survey. It shall not form part of any offer or contract or constitute any warranty by the salesperson and shall not be regarded as statements or presentations of fact.
For more information,
The condo is within walking distance of shopping malls such as ION Orchard, Forum The Shopping Mall, and Delfi Orchard, allowing residents to easily explore the various retail and dining options. There are nearby amenities like supermarkets, pharmacies, banks, and medical institutions. The area is well-connected with strategic arterial roads and the Orchard Boulevard Condo is right beside the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line. Enjoy the convenience of getting about town without feeling the hustle and bustle of the city.
Contact Paulyn Chew | 92343874
Senior Associate Director (R058600I)
ERA Realty Network Pte. Ltd.