King Albert Park GCB On Sale For $45.5mil
A Great Course Bungalow (GCB) at 22A King Albert Park has actually once again been put up for sale– although this time around via personal treaty– with a guide rate of $45.5 million or about $1,248 per sq ft (psf), reported Business Times (BT) pointing out exclusive marketing representative AGE Realty.
With an overall land area of around 36,446 sq ft, the estate residential property in Area 21 functions 5 rooms, a pool, and also a basement.
The two-storey bungalow is snuggled on the highest point of the hill at King Albert Park, giving the residential property a view of the lavish plant’s surroundings, Henry Lim, GCB Department Head at PERIOD, told BT.
He noted that the property’s set within an exclusive dead end makes it optimal for change, addition or perhaps redevelopment.
Lim added that the site could be partitioned into two GCB stories, subject to the Urban Redevelopment Authority’s authorization.
Bounded by Clementi Roadway, parc central residences floor plan, and Bukit Timah Roadway, the King Albert Park estate is near various malls including Bukit Timah Plaza, The Grandstand as well as Beauty Globe Centre. Nearby schools consist of Raffles Girls’ Primary School, Nanyang Girls’ Secondary School, Henry Park Primary School, Ngee Ann Polytechnic, Hwa Chong Institution, and also Singapore Institute of Administration.
The cottage at 22A King Albert Park was formerly offered through the expression of interest in June 2019 by Edmund Connection & Co, yet the asking rate was not revealed.
GCBs are one of the most prominent kinds of landed housing within Singapore as a result of preparing restraints targeted at preserving their low-rise character as well as exclusivity. Because of this, newly-created cottages within GCB Areas must have a minimal plot area of 1,400 square meters (15,070 sq ft).
The current caveated transaction for a King Albert Park website was in very early 2017 when Far East Organization got 16 King Albert Park, which has an acreage of 39,224 sq ft, for $43.8 million or about $1,117 psf.
And Also while 25A King Albert Park, which occupies 7,900 sq ft of land, was recently cost around $1,250 psf, no caveat has been lodged yet, noted BT.
SC Global Advancements marketed 26 King Albert Park in January 2016 for $25 million or $1,493 psf.
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