{"id":109649,"date":"2019-08-05T13:41:07","date_gmt":"2019-08-05T06:41:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/belmont-road-gcb-relaunched-at-lower-price\/"},"modified":"2019-08-05T14:11:10","modified_gmt":"2019-08-05T07:11:10","slug":"belmont-road-gcb-relaunched-at-lower-price","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/belmont-road-gcb-relaunched-at-lower-price\/","title":{"rendered":"Belmont Road GCB relaunched at lower price"},"content":{"rendered":"


\nAfter failing to sell at an auction, a Good Class Bungalow (GCB) at 80 Belmont Road has been re-launched for sale through private treaty, with the guide price lowered to $40.8 million.
\nAccording to a report on The Business Times, the property, which was owned by The Stratech Group\u2019s Chew family, was put up for sale via an auction on 23 July, carrying a guide price of $42 million.
\nA Knight Frank spokesman said last month\u2019s auction had a $40.5 million opening price. While there were 150 attendees, no bids were placed then.
\n\u201cBut after the auction, a few offers have been made and are now undergoing private negotiations,\u201d noted the spokesman.
\nIt is a mortgagee sale, or one in which a bank forecloses a property after its owner defaults on the mortgage, and then puts the property up for sale to recover the debt.
\nIt was previously reported that married couple David Chew and Leong Sook Ching, who used to control Stratech Group that is now in liquidation, are the bungalow\u2019s registered owners with Deutsche Bank as the mortgagee.
\nThe couple were declared bankrupts in October 2018 after a petition by Zana Asia Fund II.
\nWith the bungalow boasting a freehold land area of 27,000 sq ft, the new guide price works out to about $1,511.11 per sq ft (psf).
\nThe two-storey property has an estimated gross floor area of 15,714 sq ft and is nestled on a two-tiered land featuring a basketball court, lift, playground, swimming pool and parking space for up to 10 cars.
\nNearby food establishments, retail facilities and other amenities can be found along Holland Road and Sixth Avenue.
\nLooking to buy a Singapore home instead but not sure where to start? Get insight on the best locations for your new home with our\u00a0AreaInsider\u00a0Guides.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Belmont Road GCB relaunched at lower price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After failing to sell at an auction, a Good Class Bungalow (GCB) at 80 Belmont...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-109649","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-swx","jetpack-related-posts":[{"id":109079,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/belmont-road-gcb-to-go-under-the-hammer\/","url_meta":{"origin":109649,"position":0},"title":"Belmont Road GCB to go under the hammer","date":"July 17, 2019","format":false,"excerpt":"\r A Good Class Bungalow (GCB) at 80 Belmont Road is set to be auctioned on 23 July (Tuesday), carrying a guide price of $42 million or around $1,557 per sq ft (psf), reported The Straits Times citing Knight Frank Singapore. Situated near the Holland Village enclave, Sixth Avenue as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78941,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentosa-cove-penthouse-up-for-auction\/","url_meta":{"origin":109649,"position":1},"title":"Sentosa Cove penthouse up for auction","date":"February 5, 2018","format":false,"excerpt":"\r The last owner paid $5.64 million, or $1,919 psf for the four-bedroom unit in 2011. (Photo: Edmund Tie and Co) A two-level penthouse on the sixth storey of The Berth by the Cove will be placed under the hammer on 28 February at The Amara Hotel Singapore, revealed Edmund\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111465,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yarwood-avenue-gcb-to-enter-the-market-again-with-23m-price\/","url_meta":{"origin":109649,"position":2},"title":"Yarwood Avenue GCB to enter the market again with $23m price","date":"October 9, 2019","format":false,"excerpt":"\r The two-storey bungalow comes with five en suite bedrooms, a basement, sheltered terraces, a car porch, a landscaped garden, a koi pond and a swimming pool. Image source: Knight Frank. A good class bungalow (GCB) in District 21 will once again be put up for public auction on 16\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-panjang-gcb-up-for-auction-at-9m-asking-price\/","url_meta":{"origin":109649,"position":3},"title":"Bukit Panjang GCB Up For Auction At $9m Asking Price","date":"August 27, 2019","format":false,"excerpt":"\r A good class bungalow (GCB) at 7 Chestnut Crescent will be put up for sale via auction next month, with the owner asking $9 million for the property or $975 per sq ft (psf) based on the total land area of 9,232.2 sq ft, revealed Colliers International.\u00a0 The psf\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108264,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-good-class-bungalows-up-for-sale\/","url_meta":{"origin":109649,"position":4},"title":"Two Good Class Bungalows up for sale","date":"June 19, 2019","format":false,"excerpt":"\r Good Class Bungalows (GCBs) are the most prestigious type of landed housing in Singapore that only Singaporeans can buy. Shown is a\u00a0two-storey bungalow at 22A King Albert Park. Two good class bungalows (GCB) within District 10\u2019s Bin Tong Park and District 21\u2019s King Albert Park GCB areas have been\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/06\/5-Bin-Tong-Park.jpg?fit=810%2C540&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":112296,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oei-tiong-ham-park-gcb-to-go-under-the-hammer-for-23m\/","url_meta":{"origin":109649,"position":5},"title":"Oei Tiong Ham Park GCB to go under the hammer for $23m","date":"November 12, 2019","format":false,"excerpt":"\r The property features six ensuite bedrooms, a patio entrance and a private swimming pool. It also has a garage that can house three cars and which can also be used as a playroom. A good class bungalow (GCB) at Oei Tiong Ham Park in District 10 will be put\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/109649"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=109649"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/109649\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=109649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=109649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=109649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}