Freehold Bungalow in Caldecott Hill Estate GCB Area for Sale at $21.8 Million

A two-storey freehold detached house in the Caldecott Hill Estate GCB area is now available for sale via private treaty, with a guide price of $21.8 million. The property sits on a 10,858 sq ft plot, reflecting a land rate of $2,008 psf. PropNex Realty is the exclusive marketing agent.

The bungalow features a 40m frontage along Andrew Road and includes eight bedrooms, a built-up area of 9,643 sq ft, an attic, and a basement that can accommodate five cars. The living space includes two family areas, and the property boasts a swimming pool.

Henry Lim Choon Kheng, associate district branch director and head of GCB and prestige landed at PropNex, expects the property to attract business owners, corporate executives, and high-net-worth individuals seeking a large family home for multi-generational living. He notes that the bungalow, built in 1998, may require reconstruction or renovation. “There is a limited supply of available bungalows in GCB areas amid the ongoing tight supply and few motivated sellers,” he says.

Interest in landed homes in the Caldecott Hill Estate has increased since redevelopment plans for the former Caldecott Broadcast Centre along Andrew Road were announced. The area will be redeveloped into 15 GCB plots with 99-year leasehold tenures.

According to URA caveats, two landed properties in the Caldecott Hill Estate GCB area changed hands last year at an average land rate of $2,010 psf. In 2022, four landed properties were sold at an average land rate of $1,347 psf. No transactions have been recorded so far this year.

Located off Lornie Road, the property is about a 20-minute drive from the central business district and about 10 minutes from the Orchard Road shopping belt. For those interested in other prime locations, exploring options in Geylang property Singapore might also be worthwhile.