Uncompleted GCB on Chestnut Drive going for $38.88 mil

An elevated two-storey detached house with a basement and an attic located on Chestnut Drive in Bukit Panjang, is now up for sale for a whopping $38.88 million. According to PropNex Realty, the sole marketing agent for this 999-year leasehold Good Class Bungalow (GCB), this translates to approximately $2,677 per square foot on the 14,526 sq ft land area.

This property falls within the Chestnut Avenue GCB area, the only demarcated GCB neighbourhood in the immediate vicinity. The developed GCB is expected to attain its Temporary Occupation Permit (TOP) in 2021, and will come with six The Myst ensuite bedrooms, a theatre hall, a swimming pool with cascading water feature, a fully-equipped wet and dry kitchen as well as provisions for solar panels and a smart home system.

Henry Benjamin, head of GCB and Prestige Landed at PropNex, shares that when compared to GCBs found in District 10 and District 11, this site presents one of the lowest prices in the market. Meaning that this is a great entry point into the prestigious GCB segment.

Notably, brand-new GCBs remain highly sought after and there is a limited stock of available GCBs on the market. The $38.99 million price tag translates to approximately $1,996 psf based on the estimated built-up area of 19,481 sq ft. The sale of this property is by private treaty.