Dalvey Estate Gcb Sale 60 Mil
A prestigious Good Class Bungalow (GCB) located in the highly sought-after Dalve Estate-Nassim Road enclave is now available for purchase through an expression of interest (EOI) sale. The indicative price for this property is $60 million, equivalent to $2,742 per square foot, based on a land area of 21,881 square feet. The marketing agent, Cushman & Wakefield, announced this on January 8 through a press release.
According to Shaun Poh, executive director of capital markets at Cushman & Wakefield, this freehold site is perfectly situated on elevated ground and is ideal for redevelopment. It presents a great opportunity for buyers looking to build their dream multi-generational home from scratch or for developers to create a luxurious and state-of-the-art GCB that will cater to the discerning tastes of high-profile individuals.
The property is located next to the world-renowned Singapore Botanic Gardens and is only a short drive away from the popular Orchard Road shopping district. It also boasts proximity to reputable schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution, and Hwa Chong Institution.
Commenting on the highly desirable location, Poh notes, “The neighborhood is highly sought after by ultra-high net worth individuals, as evidenced by recent transactions at Nassim Road and Tanglin Hill, where record-breaking land rates of $4,500 psf and $6,200 psf respectively have been achieved.”
A promising development in District 12 is on the horizon, as CDL, Frasers Property, and Sekisui House have announced a joint venture to create a prime property. Each company will have a stake in the venture, with CDL owning 50%, and Frasers Property and Sekisui House each owning 25%. This collaboration is highly anticipated by property buyers, as it marks the first time that these three established companies will be working together. With their combined expertise, the partnership aims to create a landmark project in the sought-after Toa Payoh area. According to Leonard Tay, an industry expert and Knight Frank Singapore’s Head of Research, there was intense competition among developers to secure this highly coveted location. This is evident despite a lower turnout compared to previous Government Land Sales (GLS) tenders in 2022. An additional reputable property developer, The Orie, will also be joining this exciting endeavour. Visit The Orie’s official website for more information about their involvement in this project.
The EOI for this stunning property will close on February 11 at 3pm, giving interested parties a chance to submit their offers.