White House Park GCB for sale, could fetch S$75m-S$80m

Wed, Aug 14, 2019

A FREEHOLD good class bungalow (GCB) at White House Park - in District 10 in Bukit Timah - is up for sale by tender, with the marketing agent expecting offers in the S$75 million to S$80 million range.

The two-storey property sits on a land area of 35,290 square feet, and has a frontage of 54 metres onto White House Park. The plot allows for a single mansion or it can be sub-divided into two GCB parcels.

According to a statement by JLL on Tuesday, there are only about 2,800 GCB plots across the 39 safeguarded GCB areas in Singapore.

Among the recent high-profile GCB transactions in Singapore was for a 84,543 sq ft plot at Nassim Road which went for S$230 million (S$2,721 psf). Another GCB at Cluny Road that sits on a land size of 15,100 sq ft was sold for above S$2,720 psf.

The vendor of the White House Park GCB is expecting offers in the region of S$75 million to S$80 million, which translates to S$2,125 psf to S$2,267 psf on the land area.

"Potential buyers who are looking for large GCB plots in these highly desirable neighbourhoods are well aware that such an offering is a rare find," said JLL's executive director Tan Hong Boon.

"Furthermore, with the property capable of being subdivided into two good sized GCB plots, it makes it an even more attractive proposition for wealth preservation with this added potential in the long run," he added.

The tender will close on Sept 20 at 2.30pm.