Round up of recent good class bungalow Transactions

98 Binjai Park

This property transacted at $36 million, which translates into a land rate of $1,318 psf.

According to a property title search, the buyers of the GCB at Binjai Park is Ng Siew Moi, a director of Inter-Continental Oils & Fats (ICOF), a merchandiser and distributor of sustainable palm oil and palm oil derivative products, and Lim Jing Yi Clara, Karim.

31 Swettenham Road

This Good Class Bungalow was also transacted at $36 million at a land rate of $1,954 psf.

The buyer of the GCB at Swettenham Road, based on a property title search, is Gregory Alva Ng Yong He. According to his bio from an article in New Naratif published in Aug 2019, Ng is a writer and researcher based in Singapore. He is a graduate with a B.A. in Ethnicity, Race & Migration from Yale University, and at that time, was enrolled in the Performance Studies M.A. programme at New York University. Ng is said to be one of the sons of Philip Ng, CEO of one of Singapore’s largest property groups, Far East Organization.

24 Coronation Road West

This GCB changed hands at $36 million at a land rate of $1,500 psf.

In a story that ran in EdgeProp on May 14, the orientation of the property at 24 Coronation Road West can be changed. It will front Jalan Sampurna, and will become part of the Oei Tiong Ham GCB estate. The buyer has the option to purchase the strip of state land of about 8,000 sq ft adjacent to the property at Coronation Road West. However, approval from Singapore Land Authority is needed for the amalgamation with the existing GCB site to create a larger land plot.

27 Olive Road

Probably the most publicised GCB transaction, this was sold at $36 million at a land rate of 1,537 psf. 

The buyer and co-founder of Secret Lab, Ian Ang, is said to have looked at many of the GCBs that were on the market before zooming in on the one at Olive Road. This is because the GCB sits on a freehold plot of 23,424 sq ft with a sloping terrain. Given the way the site is situated, it commands a 270-degree prospect of the Caldecott Hill Estate, the Mount Pleasant area and the Singapore Polo Club.


Source: EdgeProp Singapore

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