Since selling off a portion of land from Eden Hall plot in 2001, more land around the British High Commissioner's home in Nassim Road is on the market again.
The British government has carved out two freehold land plots from its Nassim Road garden land for wealthy buyers keen on owning some of the plummiest land in Singapore.
Plot A is indicatively priced at $40.964 million, or $2,200 psf. The plot is approximately 18,620 sq ft and has about 36m of Nassim Road frontage.
Plot B is about 15,634 sq ft. It comes with a Nassim Road frontage of about 8m and is prospectively priced at $31.268 million or $2,000 psf.
Land for Good Class Bungalows (GCBs) in the tree-lined boulevards of Nassim Road is tightly held and scarcely available. With Eden Hall steeped in history, the sale of the two plots present a landmark sale in the GCB market. The properties are selling on a vacant site basis.
Before the 2001 sale, the land plot was originally more than 200,000 sq ft. in area.
Recent Nassim Road GCB History
Roughly 109,000 sq ft of part of the Eden Hall land parcel were bought for $50.4 million in April 2001 by motoring tycoon Peter Kwee and "Popiah King" Sam Goi.
Kwee took the larger part of about 63,300 sq ft and subsequently resold it to the below buyers:
- 39,383 sq ft of the plot (now 28M Nassim Road) went to Oei Siu Hoa for $25.5 million in 2003.
- The other plot of 23,922 sq ft was sold to Tay Liam Wee for $47.84 million in 2012.
Goi continues to own 28G Nassim Road, a 45,754 sq ft site.
After the two plots are sold, the Eden Hall site will retain a land size of about 63,893 sq ft.
Nassim Road has chalked up only three GCB sales over the last eight years.
In April 2013, a company controlled by Wing Tai chairman Cheng Wai Keung and his wife put up a GCB at 33 Nassim Road for sale for about $250 million to $300 million. The plot of 84,839 sq ft land site has yet to secure a buyer.
Source: Straits Times