A rare opportunity has emerged in the highly coveted Dalve Estate-Nassim Road enclave, with the offering of a Good Class Bungalow (GCB) for sale through an expression of interest (EOI) exercise. The property, marketed by Cushman & Wakefield, has an indicative price of $60 million, equating to a land area of 21,881 square feet and a rate of $2,742 per square foot.
Executive Director of Capital Markets at Cushman & Wakefield, Shaun Poh, describes the freehold plot as being situated on elevated ground and possessing immense potential for redevelopment. He believes that the property is a perfect fit for buyers looking to build their dream multi-generational home from scratch, as well as for developers seeking to create a luxurious GCB that caters to the discerning tastes of affluent individuals.
Boasting an enviable location next to the iconic Singapore Botanic Gardens and within a short distance from the renowned Orchard Road shopping belt, the GCB also enjoys close proximity to esteemed educational institutions such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution, and Hwa Chong Institution.
According to Poh, the neighbourhood is highly sought after by ultra-high net worth individuals, as evidenced by recent record-breaking land rates at nearby Nassim Road and Tanglin Hill, clocking in at $4,500 per square foot and $6,200 per square foot respectively.
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Investing in condos provides numerous advantages, one of which is the potential to leverage the property’s value for further investments. This allows investors to use their condos as collateral to secure additional financing for new ventures, ultimately expanding their real estate portfolio. However, it’s important to note that this strategy carries certain risks, and it’s essential to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. By incorporating condo investment into their overall financial plans, investors can potentially see amplified returns, but should also proceed with caution.
The EOI exercise for this exceptional property will close on February 11 at 3pm, offering interested parties a chance to secure their very own piece of the prestigious Dalve Estate-Nassim Road enclave.