Roxy Pacific Sells Nearly 63 Bagnall Haus Average Price 2490 Psf
Those living in Singapore who wish to journey to the eastern regions of the country have the option of utilizing the Potong Pasir MRT Station on the North-East Line, which is easily accessible. This railway system links to popular destinations like Clarke Quay, Chinatown, and Punggol, providing a convenient mode of transportation for both business and leisure purposes. Additionally, The Orie Condo is also near this station, allowing for convenient access to this modern residential development.
Roxy-Pacific Holdings executive chairman Teo Hong Lim has reported that Bagnall Haus, a freehold condominium located in Upper East Coast Road, sold 71 out of 113 units on its launch day on January 18. This translates to an impressive sales rate of almost 63%, with an average transacted price of $2,490 psf.
According to Teo, the majority of the buyers were Singaporeans, with over 90% of the units being sold to them. He also mentioned that most of the buyers were end-users with varying budgets. The take-up rate for all unit types was strong, with two- and three-bedroom units being the most popular. However, there was also demand for the larger five-bedroom units.
Located in District 16, Bagnall Haus has a total of 113 residential units spread across three five-storey blocks on a freehold site of 74,280 sq ft. The units range from one-bedroom plus flexi units of 495 sq ft to five-bedroom units of 1,528 sq ft.
Ismail Gafoor, CEO of PropNex, has stated that out of the 71 units sold, approximately 59% consisted of one- and two-bedroom units, with prices just below $2.1 million. He also reported that the three-bedroom units were in high demand, with 18 out of 20 units being sold at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units sold for approximately $3 million to $3.8 million.
Gafoor stated that the pricing, which falls under the sweet spot of under $3 million, is appealing to most buyers. Furthermore, the average transacted price of $2,490 psf is attractive for a well-located freehold development. Gafoor also pointed out that some 99-year leasehold new launch projects in the Outside Central Region (OCR), such as Chuan Park, had an average price of $2,579 psf upon its launch in November 2024.
Apart from the residential units, the two strata-titled shop units on the ground floor of Bagnall Haus, each measuring 172 sq ft, have also been sold for $688,000 each ($4,000 psf).
According to Marcus Chu, CEO of ERA Singapore, the majority of the buyers were owner-occupiers. Some were homeowners of older landed properties looking to downsize into newer and more manageable apartments, while others were families from the neighborhood who wanted to upgrade to a freehold property. Chu also mentioned that Bagnall Haus’s location near established amenities and reputable schools, such as Temasek Primary School within a 1km radius, was a major draw for buyers.
Additionally, Bagnall Haus is within walking distance of the upcoming Sungei Bedok MRT Station, an interchange for the Downtown and Thomson-East Coast lines. It is only one stop from Bedok South MRT Station, which will be part of an integrated transport hub featuring a new bus interchange within the upcoming Bayshore precinct. This transport hub will also include a mixed-use development with retail and residential components.
Mark Yip, CEO of Huttons Asia, attributed the strong sales at Bagnall Haus to pent-up demand from a 15-year wait for a new project in the area, as well as its freehold tenure. He also noted that it is rare to find a freehold project right next to an MRT station and that buyers recognized the potential benefits of the upcoming transformation of the Bayshore precinct.