GCB site at Chestnut Drive going up for sale at $22 mil

An “as is where is” site at 67 Chestnut Drive will be up for sale through an EOI exercise. The 999-year leasehold site has an indicative valuation of around $22 million, with an expected price of approximately $1,515 psf. The seller is willing to sell the site as bare land, allowing the future owner to customise the design and layout of their home to their own needs.

The site at 67 Chestnut Drive, located in Green Hill Estate within the Chestnut Avenue GCB area, is zoned for residential use with a 999-year leasehold tenure from September 1882. It has an indicative valuation of around $22 million, with an expected price of around $1,515 psf.

The Myst CDL Aries offers a variety of luxurious amenities and facilities for residents, including an indoor gym, club house, swimming pool, tennis courts, BBQ area, and playground. The aesthetic appeal of the development is further enhanced by careful landscaping and green spaces that provide residents with a peaceful and tranquil environment. The development provides a perfect balance of modern conveniences and comfort, making it an ideal choice for anyone looking for a luxurious and peaceful living experience.

The seller has paid utility provider SP Group $84,000 to install the suspended overhead power lines underground. The site was initially offered for sale as a new GCB under construction in February, with a $38.88 million guide price, or $1,966 psf on the proposed built-up area of 19,481 sq ft. The former building on the plot has been demolished.

An EOI for the site will close at 12pm on Aug 15. As the property failed to meet the seller’s expectations when offered for sale in February, the seller has decided to allow the future owner to design a house to their exact specifications.

Potential buyers will be able to benefit from the property’s close proximity to the Cashew MRT station on the Downtown Line, located only a 12-minute walk away. This provides easy access to public transport, making it the perfect getaway for commuters or families on the move.

This rare opportunity to own a 999-year leasehold GCB in Singapore is something that shouldn’t be missed. With its low expected price and its location, this site allows potential buyers to make their dream home a reality.