{"id":110222,"date":"2019-08-27T09:48:59","date_gmt":"2019-08-27T02:48:59","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-panjang-gcb-up-for-auction-at-9m-asking-price\/"},"modified":"2019-08-27T10:04:41","modified_gmt":"2019-08-27T03:04:41","slug":"bukit-panjang-gcb-up-for-auction-at-9m-asking-price","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-panjang-gcb-up-for-auction-at-9m-asking-price\/","title":{"rendered":"Bukit Panjang GCB Up For Auction At $9m Asking Price"},"content":{"rendered":"


\nA 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
\nThe psf pricing compares favourably to a landed house at 29 Chestnut Crescent which was sold for $8.8 million or $1,103 psf in Q3 2018.
\nThe freehold property is situated within the GCB area in Bukit Panjang. Notably, there are only 39 clusters within the city state that have been gazetted for GCBs.
\n\u201cGCBs are seen as the cr\u00e8me de la cr\u00e8me of the Singapore property market and this presents a rare chance to own one of them at a relatively affordable price,\u201d said Steven Tan, director of capital markets and investment services at Colliers.
\n\u201cA key attraction lies in its redevelopment potential \u2013 from the current single-storey home to a two and a half-storey luxury property.\u201d
\nHe added that the buyer may also purchase \u2013 subject to relevant approvals \u2013 an adjacent state land measuring 2,836.3 sq ft, \u201cwhich could help lower the overall effective land rate below $975 psf\u201d.
\nLocated near several MRT stations such as Cashew and Bukit Panjang MRT stations, the property is also close to Pending LRT station and a short drive from Bukit Timah Nature Reserve and the Dairy Farm Quarry.
\nOther amenities within the area include Petir Park, Hillion mall and schools such as Assumption English School, Bukit Panjang Primary School, Fajar Secondary School and CHIJ Our Lady Queen of Peace.
\nThe GCB will be offered for sale at an auction on 30 September at Amara Singapore, Level 3, Connection Room.
\nLooking to buy a Singapore home 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…Bukit Panjang GCB Up For Auction At m Asking Price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A good class bungalow (GCB) at 7 Chestnut Crescent will be put up for sale...<\/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-110222","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-sFM","jetpack-related-posts":[{"id":109079,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/belmont-road-gcb-to-go-under-the-hammer\/","url_meta":{"origin":110222,"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":25909,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/leedon-park-gcb-could-fetch-over-70-million\/","url_meta":{"origin":110222,"position":1},"title":"Leedon Park GCB could fetch over $70 million","date":"September 13, 2016","format":false,"excerpt":"\r The 46,879 sq ft plot located on high ground can be subdivided into 3 GCBs, said JLL. A sprawling good class bungalow (GCB) located on one of the highest points of the Leedon Park GCB area has been launched for sale, revealed sole marketing agent JLL. Built in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93023,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-bungalow-at-sixth-avenue-up-for-sale-at-16m\/","url_meta":{"origin":110222,"position":2},"title":"Freehold bungalow at Sixth Avenue up for sale at $16m","date":"July 3, 2018","format":false,"excerpt":"\r The old single-storey bungalow near Sixth Avenue MRT station was built around the 1980s. (Photo: JLL) A freehold bungalow at 45 Sixth Avenue has been put up for sale carrying an asking price of $16 million or about $1,274 psf, revealed marketing agent JLL on Monday (2 July). Located\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139299,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-panjang-sees-first-million-dollar-hdb-resale-flat-mp-desmond-lee-comments-on-new-hdb-flat-classifications-and-more\/","url_meta":{"origin":110222,"position":3},"title":"Bukit Panjang Sees First Million-dollar HDB Resale Flat, MP Desmond Lee Comments on New HDB Flat Classifications, and More","date":"September 25, 2023","format":false,"excerpt":"\r Bukit Panjang Sees First Million-dollar HDB Resale Flat, MP Desmond Lee Comments on New HDB Flat Classifications, and More19 to 25 September 2023 A 1,367 sq ft HDB executive resale flat in Bukit Panjang changed hands for $1.02 million in September 2023, making it the first HDB resale flat\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/09\/singapore-hdb-view.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":111658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nassim-road-gcb-for-sale-for-175m\/","url_meta":{"origin":110222,"position":4},"title":"Nassim Road GCB for sale for $175m","date":"October 17, 2019","format":false,"excerpt":"\r The two-storey bungalow has a total floor area of about 13,839 sq ft and\u00a0is a mere five-minute walk to the Botanic Gardens, and is a 10 minutes\u2019 drive to the CBD. Image source: CBRE A two-storey conservation good class bungalow (GCB) at 40 Nassim Road has been put up\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":110222,"position":5},"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. 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