New Reporter
18-03-24, 12:31
Versace-inspired Good Class Bungalow on Old Holland Road hits the market at $66.7 mil
Mar 14, 2024
https://i.imgur.com/KzWyi7J.pnghttps://i.imgur.com/NN62REb.pnghttps://i.imgur.com/ZEYaeys.png
One of the most opulent Good Class Bungalows (GCBs) on Old Holland Road is on the market for $66.7 million. The GCB is designed in the neo-classical style, featuring a gabled entrance and car porch that can fit 10 cars.
The house has six en suite bedrooms, a palatial living room with an 8.2m ceiling height and a $100,000 hanging chandelier featuring Swarovski crystals. The formal dining room has an elaborate stained-glass design on the ceiling. The house has a vast swimming pool, a sauna, and a pavilion large enough to fit about 30 people. The previous owner was said to be businessman Robert Heng, founder of Orchard Credit Group. Heng built the 12,000 sq ft GCB on a 23,148 sq ft freehold plot in 1994.
A property title search showed that the current owners are Teo Hock Seng, executive chairman of Komoco Holdings automotive group — the distributor of Hyundai, Jeep, Ferrari, Maserati and Alfa Romeo — and his wife, Chua Hwee Meng. URA Realis caveats showed that the couple paid $11.58 million ($500 psf) for the GCB in 2007. That was 17 years ago.
“We know the original owner of the house; they are family friends,” says Trevor, the eldest of Teo’s three adult children.
‘No expense spared’
“No expense was spared because the previous owner had built the house for his own stay,” says Mrs Teo, the co-owner of the house. “The most amazing thing is these two pillars in the living room, which are entirely clad in Italian marble.”
Besides the pillars, the living and dining room flooring, the entire kitchen and all the bathrooms are clad in marble. The master suite has a balcony with a view of the swimming pool. It also has a staircase to the den below. The spacious marble-clad master bathroom has a jacuzzi bathtub with a skylight, separate bidet and shower compartments, and a double sink vanity top. “The taps are gold, and the bidet has a gold finish, too,” Trevor points out. “It’s very Versace.”
Given the Italianate style of the house, the Teos had to purchase furniture pieces to complement the interiors. The house is ideal for those who enjoy entertaining at home. “We throw parties here, too,” says Trevor. “The biggest party we had was during Chinese New Year, with 700 people. We had to put boards on the field opposite to allow people to park their cars and then arrange for buggies to bring them to the house.”
Enhancements made to the house include the installation of a home lift and reinforcing the wall and the ground near the swimming pool, which cost “several hundred thousand”, says Mrs Teo.
“The house has good bones,” remarks Trevor. While the Teos have enjoyed living in the home for the past 17 years, they feel it is time to right-size. Hence, they have decided to put the property up for sale with Sammi Lim, founder and director of Brilliance Capital, as the exclusive marketing agent.
The regular-shaped, freehold plot has a 45.5m frontage along Old Holland Road and a depth of nearly 60m.
“The GCB has been well-maintained over the years and allows a new buyer to move in and occupy the home immediately,” says Lim. “Alternatively, some may wish to carry out additions and alterations to the house, while others may undertake redevelopment to customise the new home to suit their lifestyle.”
A dearth of transactions since 2021
Old Holland Road is part of the Brizay Park GCB Area in prime District 10. Based on caveats lodged, the last GCB transaction on Old Holland Road was in 2021. That year saw three GCBs on Old Holland Road change hands. In May 2021, a GCB on Old Holland Road, just two doors from the Teos’ home, was sold to Cheryl Wee, founder of Cheryl W, a wellness and weight management business. Wee paid $32.5 million ($1,259 psf) for the GCB built in 1994 and sitting on a 25,810 sq ft freehold site.
Wee is the daughter of Jean Yip, the entrepreneur behind the Jean Yip Group hair and beauty salons and an expanding property development and investment portfolio. Yip lives in a GCB just a few doors away on Old Holland Road.
Another GCB sitting on a smaller plot of 16,569 sq ft changed hands for $23.2 million ($1,400 psf) in April 2021. The GCB is just one of seven in a cluster of detached houses developed by MCL Land, hence its name, Seven Oaks. According to a property title search, the buyer is cardiothoracic surgeon Dr Su Jang Wen.
In February 2021, a GCB on Old Holland Road sitting on a 20,345 sq ft, freehold site fetched $28 million ($1,376 psf). The buyer was Ali Maghami, chief commercial officer of Danish shipowner Unifeeder, based on a property title search. Maghami was formerly the chairman of Singapore-based marine logistics provider Feedertech Group, in which Unifeeder acquired a 77% stake in December 2019.
Old Holland Road is accessible via Bukit Timah Road and Holland Road. Hence, it has multiple exit points, notes Lim. The area is also near top schools such as Hwa Chong Institution, Hwa Chong International School, Methodist Girls’ School and National Junior College. “Old Holland Road is a family-friendly location, given its proximity to amenities, such as the Holland Green Linear Park, Rail Corridor, Botanic Gardens, and the top schools in Singapore,” says Lim.
“Based on the profile of the homeowners, Old Holland Road has become a desirable address for successful entrepreneurs and the Who’s Who in Singapore,” she adds.
More at: https://www.theedgesingapore.com/haven/showcase/versace-inspired-good-class-bungalow-old-holland-road-hits-market-667-mil-0
Mar 14, 2024
https://i.imgur.com/KzWyi7J.pnghttps://i.imgur.com/NN62REb.pnghttps://i.imgur.com/ZEYaeys.png
One of the most opulent Good Class Bungalows (GCBs) on Old Holland Road is on the market for $66.7 million. The GCB is designed in the neo-classical style, featuring a gabled entrance and car porch that can fit 10 cars.
The house has six en suite bedrooms, a palatial living room with an 8.2m ceiling height and a $100,000 hanging chandelier featuring Swarovski crystals. The formal dining room has an elaborate stained-glass design on the ceiling. The house has a vast swimming pool, a sauna, and a pavilion large enough to fit about 30 people. The previous owner was said to be businessman Robert Heng, founder of Orchard Credit Group. Heng built the 12,000 sq ft GCB on a 23,148 sq ft freehold plot in 1994.
A property title search showed that the current owners are Teo Hock Seng, executive chairman of Komoco Holdings automotive group — the distributor of Hyundai, Jeep, Ferrari, Maserati and Alfa Romeo — and his wife, Chua Hwee Meng. URA Realis caveats showed that the couple paid $11.58 million ($500 psf) for the GCB in 2007. That was 17 years ago.
“We know the original owner of the house; they are family friends,” says Trevor, the eldest of Teo’s three adult children.
‘No expense spared’
“No expense was spared because the previous owner had built the house for his own stay,” says Mrs Teo, the co-owner of the house. “The most amazing thing is these two pillars in the living room, which are entirely clad in Italian marble.”
Besides the pillars, the living and dining room flooring, the entire kitchen and all the bathrooms are clad in marble. The master suite has a balcony with a view of the swimming pool. It also has a staircase to the den below. The spacious marble-clad master bathroom has a jacuzzi bathtub with a skylight, separate bidet and shower compartments, and a double sink vanity top. “The taps are gold, and the bidet has a gold finish, too,” Trevor points out. “It’s very Versace.”
Given the Italianate style of the house, the Teos had to purchase furniture pieces to complement the interiors. The house is ideal for those who enjoy entertaining at home. “We throw parties here, too,” says Trevor. “The biggest party we had was during Chinese New Year, with 700 people. We had to put boards on the field opposite to allow people to park their cars and then arrange for buggies to bring them to the house.”
Enhancements made to the house include the installation of a home lift and reinforcing the wall and the ground near the swimming pool, which cost “several hundred thousand”, says Mrs Teo.
“The house has good bones,” remarks Trevor. While the Teos have enjoyed living in the home for the past 17 years, they feel it is time to right-size. Hence, they have decided to put the property up for sale with Sammi Lim, founder and director of Brilliance Capital, as the exclusive marketing agent.
The regular-shaped, freehold plot has a 45.5m frontage along Old Holland Road and a depth of nearly 60m.
“The GCB has been well-maintained over the years and allows a new buyer to move in and occupy the home immediately,” says Lim. “Alternatively, some may wish to carry out additions and alterations to the house, while others may undertake redevelopment to customise the new home to suit their lifestyle.”
A dearth of transactions since 2021
Old Holland Road is part of the Brizay Park GCB Area in prime District 10. Based on caveats lodged, the last GCB transaction on Old Holland Road was in 2021. That year saw three GCBs on Old Holland Road change hands. In May 2021, a GCB on Old Holland Road, just two doors from the Teos’ home, was sold to Cheryl Wee, founder of Cheryl W, a wellness and weight management business. Wee paid $32.5 million ($1,259 psf) for the GCB built in 1994 and sitting on a 25,810 sq ft freehold site.
Wee is the daughter of Jean Yip, the entrepreneur behind the Jean Yip Group hair and beauty salons and an expanding property development and investment portfolio. Yip lives in a GCB just a few doors away on Old Holland Road.
Another GCB sitting on a smaller plot of 16,569 sq ft changed hands for $23.2 million ($1,400 psf) in April 2021. The GCB is just one of seven in a cluster of detached houses developed by MCL Land, hence its name, Seven Oaks. According to a property title search, the buyer is cardiothoracic surgeon Dr Su Jang Wen.
In February 2021, a GCB on Old Holland Road sitting on a 20,345 sq ft, freehold site fetched $28 million ($1,376 psf). The buyer was Ali Maghami, chief commercial officer of Danish shipowner Unifeeder, based on a property title search. Maghami was formerly the chairman of Singapore-based marine logistics provider Feedertech Group, in which Unifeeder acquired a 77% stake in December 2019.
Old Holland Road is accessible via Bukit Timah Road and Holland Road. Hence, it has multiple exit points, notes Lim. The area is also near top schools such as Hwa Chong Institution, Hwa Chong International School, Methodist Girls’ School and National Junior College. “Old Holland Road is a family-friendly location, given its proximity to amenities, such as the Holland Green Linear Park, Rail Corridor, Botanic Gardens, and the top schools in Singapore,” says Lim.
“Based on the profile of the homeowners, Old Holland Road has become a desirable address for successful entrepreneurs and the Who’s Who in Singapore,” she adds.
More at: https://www.theedgesingapore.com/haven/showcase/versace-inspired-good-class-bungalow-old-holland-road-hits-market-667-mil-0