SINGAPORE - A good Class Bungalow (GCB) at 24 White House Park will go under the hammer on Aug 27.
The indicative price for the freehold property, being marketed by DTZ, is around $26 million or $1,516 per square foot (psf) based on its land area of 17,151 square feet.
On site is a two-storey old bungalow with a basement and a large open green field. The property has five bedrooms and will be sold with vacant possession. Located in a quiet cul-de-sac, the property is accessible from White House Road, off Stevens Road, and a short distance from the Stevens MRT station being built as part of the Downtown Line.
Recent GCB transactions include a house at Belmont Road which was sold for about $1,525 psf and another property in Holland Park that changed hands at $1,893 psf.
The Holland Park property comprised a conservation bungalow which had been restored, connected to a newly built house.
The Belmont Road property is said to have been sold by seasoned bungalow investor Thomas Chan. Newsman Realty is believed to have brokered the transaction, as well as the recent sale of a 21,388-sq-ft vacant site in Leedon Park for $36.88 million, which works out to $1,724 psf.
As for 24 White House Park, DTZ will include the property in its Aug 27 auction at Amara Hotel.
Other recent transactions in Good Class Bungalow Areas (GCBAs) include those for two adjoining freehold properties at Jalan Asuhan in the Chee Hoon Avenue GCBA that sold for a total of $54.186 million or $1,200 psf on land area. They are understood to have been bought by the children of Popiah King Sam Goi.