A freehold Good Class Bungalow (GCB) site at 53 Windsor Park Road is up for the sale by public tender. The indicative price is S$27 million, or S$1,280 psf.
The part single storey and part double storey bungalow occupies a land area of 21,091 sq ft. Built in the 1950s, it sits on elevated grounds.
The tender closes at 3pm on Oct 21.
Around its vicinity are other landed housing and low-rise condominiums. The property enjoys proximity to Thomson Plaza, Sin Ming Plaza, and shop-houses along Upper Thomson Road.
There are only 34 GCB plots in the area. Rarely do any of these GCB come up for sale. In the past few years, only two recorded transactions in the area were recorded.
January 2013 - A 22,481 sq ft site sold for S$25.3 million;
December 2012 - A 19,280 sq ft property sold for S$27 million.
Caveats for 25 GCB deals worth a total of S$543 million were lodged in 2014.
So far, 20 GCBs with a total value of S$485 million have been transacted this year. The numbers are expected to grow, given a rise in activity for this segment lately, on the back of more realistic asking prices from sellers.
Source: The Business Times