Adjoining GCBs at Belmont Road on the market at $2,100 psf

September 18, 2023

Two adjoining Good Class Bungalows (GCBs) at 52 and 54 Belmont Road are up for sale by expression of interest. The freehold properties sit on two separate land lots with a total land area of approximately 41,741 sq ft.

The vendors of the properties are expecting offers of $2,100 psf on the land areas, says Tan Hong Boon, executive director at JLL, which is marketing the GCBs. 52 Belmont Road has a land area of 24,178 sq ft, while 54 Belmont Road occupies 17,563 sq ft. This means the prices of the properties work out to $50.77 million and $36.88 million, respectively, or around $87.7 million collectively.

Map showing 52 Belmont Road (as marked). 54 Belmont Road is located to its right ((Source: EdgeProp LandLens)

The GCBs at 52 and 54 Belmont Road, situated near a cul-de-sac in Belmont Park, were built in the 1970s. 52 Belmont Road is a single-storey bungalow, while 54 Belmont Road is a single-storey house with a lower level. Both homes feature their own pools.

“Potential buyers looking for large adjoining GCB plots in this highly desirable neighbourhood are well aware that such an offering is a rare find,” says Tan. He adds that potential buyers “are likely to redevelop the sites” to suit their needs and lifestyles.

Recent resale transactions on Belmont Road (Source: EdgeProp Research)

The expression of interest exercise for 52 and 54 Belmont Road will close on Oct 27 at 3pm.

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