Versace Inspired Gcb Old Holland Road Auction 36 Mil After 46 Markdown
30 viewssaveShare Share via WhatsApp Share via Email Print Article IMore than 30 viewssaveA Good-Class Bungalow (GCB) located along Old Holland Road in prime District 10 will be put up for auction on April 23. Conducted by SRI, the auction will see the starting price set at $36 million, which works out to be $1,555 psf based on its land area of 23,148 sq ft. The property, which is a 46 per cent markdown from the last asking price of $66.7 million, will be sold with vacant possession. Bruce Lye, SRI’s managing partner and co-founder shares that the owner is a “serious seller”, and the price has been set to attract bidders. The GCB sits on a regular-shaped plot with a 45.5m frontage and nearly 60m depth. It features a classic neo-classical design, and its current structure would be highly sought after by the new owner. It currently comprises of six ensuite bedrooms, a formal living room with an 8.2m ceiling and a $100,000 Swarovski crystal chandelier. The master bedroom, which comes with its own balcony overlooking the pool, has been designed with luxe marble and a gold finish. Additionally, it also features plenty of amenities such as a pool, sauna and outdoor patio. Another attraction about the GCB is its location in prime District 10, specifically in the Brizay Park GCB area. It is also easily accessible via Bukit Timah and Holland Road, and is close to many top schools, including Hwa Chong Institution, Hwa Chong International School and Methodist Girls’ School. The GCB’s true market value will be determined at the auction on April 23, says Bruce Lye.Here are some other details on the GCB: AdvertisementType: Good Class BungalowAuction date: 23 Apr 2022Venue: URA Singapore Estate Agents, 45 Maxwell Road, #14-01, The URA Centre Main Foyer, Singapore 069118Tenure: FreeholdLand Area: 23,148 sq ftGross Floor Area: 12,000 sq ftNumber of Bedroom(s): 6 ensuite bedrooms
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Located in prime District 10, along Old Holland Road, a Good-Class Bungalow (GCB) will be up for auction on April 23. The starting price of $36 million translates to $1,555 psf of the property’s land area of 23,148 sq ft SRI will conduct the auction, and the owner has set the price to attract bidders. Previously, the property (pictured) was put up for sale by private treaty at a higher price of $66.7 million. However, Bruce Lye, managing partner and co-founder of SRI, noted that back then, the price was based on an indicative valuation. The owner has since moved out, so the GCB will be sold with vacant possession. The property was designed in 1994 by its former owner, Robert Heng, founder of Orchard Credit Group. It features a neo-classical design, and the master bedroom has its own balcony. Additionally, the master bathroom is designed to be luxurious, with marble finishing and a gold finish. The GCB also has plenty of amenities such as a pool, sauna and outdoor patio. Furthermore, its prime location in the Brizay Park GCB area and proximity to top schools like Hwa Chong Institution, Hwa Chong International School, and Methodist Girls’ School, make it highly sought after. According to URA caveats, its most recent transaction was in May 2021 when a 25,810 sq ft property was sold for $32.5 million, or $1,259 psf. Other GCBs in the area were also transacted this year – a 16,569 sq ft GCB sold for $23.2 million ($1,400 psf) in April, and a 20,345 sq ft freehold plot fetched $26 million ($1,376 psf) in February. Looking at the number of GCBs transacted in the area over the years, it is evident that the demand for similar properties remains high. With a starting price of $36 million and located in a highly sought-after neighbourhood, the GCB is likely to fetch high interest at the upcoming auction. According to Lye, the true market value of the GCB will be determined on the auction day. You may also be interested in: Million-dollar HDB resale flats sold in Q1 Most expensive condos sold in 2021
A Good-Class Bungalow (GCB) located in prime District 10 and built in 1994 will be up for auction on April 23. The property sits on a regular-shaped freehold plot with a 45.5m frontage and nearly a 60m depth, and its location in prime District 10 along Old Holland Road in the Brizay Park GCB area has made it highly sought after. With the property’s starting price of $36 million, it translates to $1,555 psf based on its land area of 23,148 sq ft. Bruce Lye, managing partner and co-founder of SRI, notes that the price has been set to attract bidders, and the true market value will show on the auction day on April 23. Built by Robert Heng, the former owner and founder of Orchard Credit Group in a neo-classical style, the six ensuite bedroom GCB features a grand formal living room with a soaring 8.2m ceiling and a $100,000 Swarovski crystal chandelier. Other features of the property include a home lift, a study area for its piano room and living room. Furthermore, its luxurious master suite has a balcony, and its marble-clad bathroom comes with expensive ivory-coloured travertine tiles designed with a jacuzzi bathtub and a sky light, separate bidet and shower areas and a double-sink vanity. Additionally, the taps and bidet have a gold finish. The property is easily accessible via Bukit Timah Road and Holland Road, and is close to good schools such as Hwa Chong Institution, Hwa Chong International School, and Methodist Girls’ School. You may also be interested in: Prime District 9 GCB at Bishopsgate sold for $31.5 mil
A freehold Good-Class Bungalow (GCB) located in prime District 10, along Old Holland Road, will be on auction on April 23. The property’s starting price has been set at $36 million, which translates to $1,555 psf based on its land area of 23,148 sq ft. The residence features a gabled entrance, a spacious car porch that can park up to 10 vehicles, and it was designed in 1994 by its former owner, Robert Heng, founder of Orchard Credit Group. Orchard Credit expanded into various industries such as real estate, F&B, fine wine retail and storage after starting as a pioneering auto financier. Notably, the house’s design and structure would be highly sought after, and a home lift serves all the floors. It comprises six en-suite bedrooms, a grand formal living room with high 8.2m ceilings and two imposing marble-clad pillars that are paired with a Swarovski crystal chandelier worth $100,000. Furthermore, the property is opulently designed, with a stained-glass ceiling in the formal dining room, and a marble-floored entertainment area. The master bedroom features a balcony that overlooks the pool and a private staircase that leads to the lower-level den. Its other features extend to the bathroom that comprises a jacuzzi bathtub beneath a skylight, separate bidet and shower areas, and a double-sink vanity. Its taps and bidet have a gold finish. It also features a sauna, pool and outdoor patio that can accommodate up to 700 guests. Moreover, the property’s prime location just a short drive away from Holland Village, a popular expatriate enclave with plenty of amenities and dining options, and accessible via Bukit Timah Road and Holland Road, also makes it highly sought after. According to URA caveats, the property was last purchased in May 2007 for $11.58 million ($500 psf). Its current owners are Teo Hock Seng, executive chairman of Komoco Holdings, and his wife, Chua Hwee Meng. A recent GCB transaction along Old Holland Road this year in May involved a 25,810 sq ft property sold for $32.5 million ($1,259 psf). Additionally, two other GCBs in the area were also transacted this year, including a 16,569 sq ft GCB that sold for $23.2 million ($1,400 psf) in April and a 20,345 sq ft freehold plot that fetched $26 million ($1,376 psf) in February. On the next auction day, the true market value of the GCB will be determined, according to Bruce Lye, managing partner and co-founder of SRI. Furthermore, he also notes that the property is a steal at $36 million and expects strong interest at the auction. You may also be interested in: Kellock Lodge at Shelton Way up for en bloc sale with $160 mil reserve price
A Good-Class Bungalow (GCB) at Old Holland Road, District 10, will be up for auction on April 23, with a starting price of $36 million, which translates to $1,555 psf based on its land area of 23,148