Andrew Road GCB up for sale

Jul 28, 2011 - PropertyGuru.com.sg

A two-storey bungalow at 10 Andrew Road has been launched for sale through a public tender.

Located in the Caldecott Hill Estate Good Class Bungalow (GCB) area, the house has a land area of 11,357 sq ft and includes a swimming pool.

Credo Real Estate, which is marketing the property, said the indicative price of the property is between S$10.5 million and S$12 million, which translates to about S$1,000 psf.

“In this estate, there is a unique cluster of GCBs that have land areas in the region of 10,000 to 12,000 sq ft. They cater to an intermediate category of bungalow buyers who do not wish to stretch to the full extent needed to acquire a conventional GCB,” said Karamjit Singh, Managing Director of Credo Real Estate.

“These are, if you like, Economy Class GCBs which offer less leg room and bragging rights but present greater value while serving the same utility purpose.”

He added that the bungalow offers “the opportunity for Singapore permanent residents (PR) to buy for own stay — as the government is prepared to consider allowing PRs to acquire bungalows with land areas below 15,000 sq ft, provided they are purchasing it for their own stay.”

The tender for the 10 Andrew Road bungalow will close on 31 August 2011.

Meanwhile, a 21,533 sq ft site at 64 - 80 Hillside Drive has been put up for en bloc sale for S$20 million to S$22 million, which translates to around S$800 psf for an apartment development.

It is zoned for low-rise residential development and has a plot ratio of 1.4 with a leasehold term of 999 years. The tender for the site will close on 25 August 2011.

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