News: King Albert Park GCB on sale for $45.5mil

Oct 21, 2020

The 36,446 sq ft freehold property in District 21 features five bedrooms, a swimming pool and a basement, and is priced at $45.5 million or around $1,248 per sq ft (psf). Image: Google Street View

A Good Class Bungalow (GCB) at 22A King Albert Park has once again been put up for sale – although this time via private treaty – with a guide price of $45.5 million or around $1,248 per sq ft (psf), reported The Business Times (BT) citing exclusive marketing agent ERA Realty.

With a total land area of around 36,446 sq ft, the freehold property in District 21 features five bedrooms, a swimming pool and a basement.

The two-storey bungalow is nestled on the highest point of the hilltop at King Albert Park, giving the property a view of the lush vegetation surroundings, Henry Lim, GCB Division Head at ERA, told BT.

He noted that the property’s position within a private cul-de-sac makes it ideal for alteration, addition or even redevelopment.

Lim added that the site could be subdivided into two GCB plots, subject to the Urban Redevelopment Authority’s approval.

Recommended article: Landed property in Singapore: Terrace houses, bungalows and semi-detached houses

Bounded by Clementi Road and Bukit Timah Road, the King Albert Park estate is near various malls including Bukit Timah Plaza, The Grandstand and Beauty World Centre. Nearby educational institutions include Raffles Girls’ Primary School, Nanyang Girls’ High School, Henry Park Primary School, Ngee Ann Polytechnic, Hwa Chong Institution and Singapore Institute of Management.

The bungalow at 22A King Albert Park was previously put up for sale via expression of interest in June 2019 by Edmund Tie & Co, but the asking price was not disclosed.

GCBs are the most prestigious type of landed housing within Singapore due to planning constraints aimed at preserving their low-rise character and exclusivity. As such, newly-created bungalows within GCB Areas should have a minimum plot area of 1,400 square metres (15,070 sq ft).

The latest caveated transaction for a King Albert Park site was in early 2017, when Far East Organization acquired 16 King Albert Park, which has a land area of 39,224 sq ft, for $43.8 million or around $1,117 psf.

And while 25A King Albert Park, which occupies 7,900 sq ft of land, was recently sold for around $1,250 psf, no caveat has been lodged yet, noted BT.

SC Global Developments sold 26 King Albert Park in January 2016 for $25 million or $1,493 psf.

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Lim Willy
Associate Division Director
ERA REALTY NETWORK PTE LTD
limwilly.era@gmail.com
CEA Licence No.:
L3002382K / R017209C
+(65) 9824 4469