Uncompleted GCB on Chestnut Drive going for $38.88 mil

A Good Class Bungalow (GCB) which is un-completed, located on Chestnut Drive in Bukit Panjang, has been put up for sale for $38.88 million. Sole marketing agent, PropNex Realty, released a press statement on February 2, revealing that the property will be sold at a per square footage of $2,677, based on the land area of 14,526 square feet. This 999-year leasehold site is part of the Chestnut Avenue GCB area, which happens to be the closest demarcated GCB neighborhood. Additionally, the landed housing zones within close proximity to the site are primarily three-storey mixed landed estates, found along Cashew Road and Petir Road.

Henry Benjamin, head of GCB and prestige landed at PropNex, stated that $38.99 million translates to about $1,996 psf based on the estimated build-up area Senja Close EC of 19,481 sq ft. Furthermore, out of the 39 GCB areas available across Singapore, Chestnut Avenue GCB area is among the most economical options of Districts 10 and 11. Offering an entry point into this prestigious segment of the real estate market, brand-new GCBs continue to be highly sought after.

The property will be available for sale via private treaty and will include six en-suite bedrooms, a theatre hall, cascading water feature for the swimming pool, fully equipped wet and dry kitchen, in addition to a gym and entertainment space. Moreover, upon attainment of Temporary Occupation Permit (TOP) next year, the development will have provisions for solar panels as well as a smart home system.

It is no wonder why this un-completed GCB is so highly sought after, given its convenient location and features. With a price tag of $38.88 million, this could be one great opportunity for potential property buyers to get in on the esteemed GCB market.