_Prime freehold Good Class Bungalow with redevelopment potential on Joan Road for sale

Knight Frank is pleased to offer a prestigious freehold Good Class Bungalow (GCB) on Joan Road for sale. Located in prime District 11 and within the serene Caldecott Hill estate, the GCB sits on a regular-shaped land parcel of close to 30,000 square feet (sq ft) with a wide frontage of 53 metres and depth of 55 metres. The subject site has strong potential to be subdivided into two lots for two separate GCBs. Its indicative guide price is S$48.0 million which works out to approximately S$1,628 per square foot (psf).

Nestled in tranquillity, the subject site on Joan Road is situated near the MacRitchie Nature Trail, as well as the MacRitchie Reservoir Park. It enjoys excellent connectivity with its strategic location that has direct access to both the Circle line and Thomson-East Coast line, and a short 10-minute drive to the city centre and other urban and lifestyle amenities. The land parcel is also close to the former Caldecott Broadcast Centre site which has been tentatively earmarked for redevelopment into 15 full-fledged leasehold GCBs which will boost the exclusivity and ambience of Caldecott Hill area with its modern designs and improved infrastructure.

Ms Mary Sai, Executive Director of Capital Markets, Knight Frank Singapore, shared, “Well-located GCBs like these remain highly sought after as they are tightly held for long-term wealth preservation and capital appreciation. Within the Caldecott Hill estate, the most recent transaction was a GCB at Olive Road which sold at a record price of $50.2 million, reflecting about S$1,800 psf on a land area of 27,909 sq ft. Additionally, there was another transaction for a GCB at Olive Road which sold for S$36 million, or approximately $1,537 psf on a land area of 23,424 sq ft.”

Mr Nicholas Keong, Head of Private Office, Knight Frank Singapore, added, “According to Knight Frank’s latest Global Buyer Survey, Singapore homebuyers have shown a preference for larger indoor and outdoor space. The subject development’s regular layout, large turfed garden, as well as high ceilings are ideal for those looking to build their perfect family home, as they are free to expand their creativities to build and suit their needs. Given the limited availability of prime landed homes, coupled with strong demand from foreign ultra-high-net-worth families that are willing to pay rental premiums for such properties, we expect this listing to draw strong interest.”

For further information, please contact:

Mary Sai, Executive Director, Investment and Capital Markets, Knight Frank Singapore

(E) mary.sai@sg.knightfrank.com (D) +65 6228 6886 (M) +65 9388 7879

Nicholas Keong, Head, Private Office, Knight Frank Singapore

(E) Nicholas.keong@sg.knightfrank.com (D) +65 6228 6870 (M) +65 9839 9361

Hector Tan, Head, Marketing & Communications, Knight Frank Singapore

(E) hector.tan@sg.knightfrank.com (D) +65 6228 7358

Jane Sng, Assistant Manager, Marketing & Communications, Knight Frank Singapore

(E) jane.sng@sg.knightfrank.com (D) +65 6228 6827