A Good Class Bungalow (GCB) is up for sale at S$40.88 million. Located in a most sought after area of District 9, how valuable is it? Would you go for the attractive amenities and unique driveway space it offers? Or the price seems a bit over the top for you? Let’s dig in and find out.
Get the facts:
- A 1987 family home.
- Two storey building with 7 en suite rooms.
- Stretch upon 19,990 sq ft land site translating to S$2,045 psf.
- A 5,000 sq ft driveaway connecting the porch to the entrance of Rochalie Drive.
- Located in Chatsworth Park GCB Area of prime District 9.
Who are the prime buyers of Rochalie Drive’s Good Class Bungalow?
Wealthy locals looking to find the perfect dream home for his/her family.
The bungalow has garnered much attraction since its listing in February 2021. Most buyers are wealthy influencers working in the finance and banking sectors. Many hedge fund managers and cryptocurrency investors also showed interest in this bungalow. Some young couples were also keen on the property.
However, over time, the demand declined due to its unattractive profit margin. The property was also presented as a site for redevelopment projects. But, that was not particularly helpful in boosting demand.
This Good Class Bungalow is ideal only for those who are looking to make a home. If you want to turn your dream into a passion project, this is it. You can design a beautiful home in this valuable bungalow.
How did the Rochalie Drive Good Class Bungalow become available?
The family was built by a couple for their children over 30 years ago. But now, the couples have retired and the kids have moved on. Hence, the owner decided to downsize to a smaller house, just of the two of them, as that will be easier to manage.
What are the attractive attributes of the Good Class Bungalow?
Ultra high net worth locals always find Good Class Bungalows a perfect match for their luxurious living style. This one in particular is a hotspot due to some of its eye-catching benefits.
Unique driveway connecting to the entrance of Rochalie Drive
The house has a spacious sliding driveway connecting the porch of the house to the Rochalie street entrance. The 5,000 sq ft driveway is a unique addition. You will rarely find in other landed houses in Singapore. This long driveway gives an extra privacy to the residents of the house. And, the ultra high net worths appreciate such exclusivity for their own safeguard.
Excellent strategic location
The Good Class Bungalow is situated in the centre of District 9. Chatsworth Park GDB Area where it stands tall is a highly demanding place for GCBs. Besides, it is surrounded by posh neighborhoods. This includes Napier, Tanglin and Grange Road, adding to a decent community. It also maintains its quiet demeanor among other neighbouring areas.
This Bungalow in District 9 is connected to embassy districts along Napier Road. It also opens up to the numerous shopping outlets in Orchard Road. Hence, you can access infinite amenities in close proximity. For a leisure walk, you can even visit the nearby Singapore Botanic Gardens.
This Good Class Bungalow is connected to two new MRT stations. One at Orchard Boulevard and another in Napier. They are expected to begin operation sometime next year. As ultra high net worth, you may have private transport. But, it is always good to stay in a location that is attached to nearby public commutes. It offers you a quick travel arrangement during emergencies. And, also add to the total worth of the house for future selling prospects.
Scope for extensive redevelopment
The bungalow is intact in original condition. It is reserved in all its historical design and architectural glory. The house has not gone through any major renovations in the past 30 years. Hence, the new owner has full reign over redeveloping the site. You can add furniture and fittings to the 19,999 sq ft house. This may amount to a cost of another S$ 7 million.
Large Good Class Bungalows are rare gems
It is super hard to find large Good Class Bungalows in a prime area. Singapore’s Good Class Bungalows are limited in supply and rarely put up for sale. And a larger house with scope for redevelopment, the search scope becomes narrower. It is extremely scarce especially in areas such as District 9,10 and 11. That is why the demand for large bungalows like the one in Rochalie Drive is so attractive.
If you look at past records, the last bungalow sold in Rochalie Drive was over a decade. As for other neighbouring prime areas, one GCB was last sold in September 2020. The bungalow stretches upon a land site of 44,435 sq ft plot amounting S$ 73 million (S$1,643 psf). It is located in the highly sought after Leedon Green GCB Area.
Another such neighbouring Good Class Bungalow was recently sold in January 2021. Stretching upon a bit smaller size of 21,584 sq ft, it was sold at S$37.3 million (S$1,728 psf). This one was located in Oei Tiong Ham Park GCB Area
Both these properties were old and likely to be redeveloped just like the Rochalie Drive Bungalow.
What are the recent Good Class Bungalow transactions in Rochalie Drive?
- A 16,770 sq ft bungalow sold at S$33 million (S$1,968 psf) on Dec 22, 2017.
- Another 13,466 sq ft bungalow sold at S$29 million (S$1,4,85 psf) in August 2010.
- A Chatsworth bungalow has a land site of 14,994 sq ft. It was sold at S$28 million (S$1,867 psf) on August 4, 2020.
- Another Chatsworth bungalow stretched upon 21,133 sq ft. It was sold at S$44 million (S$2,082 psf) on December 11, 2020.
- A detached house on the same street has a land site of 10,571 sq ft. It was sold at S$17 million (S$1,608 psf) on Oct 20, 2020.
Previously, Good Class Bungalows in Rochalie Drive ranged from S$1,968 to S$2,082 psf. The last transaction was 10 years ago. Compared to that, the large GCB at S$2,045 sq ft is quite reasonable. You will own a landed house in a prime district. It is a rare find in an excellent neighbourhood. You have demand, price, accessibility and amenity in your favour. Plus, it adds to the exclusivity that ultra high net worths highly desire.
What do you think? Can you see this house as your future home?
If you want to know more, connect with me! I can help you tally the pros and cons. Or, help you with the entire process so that you can make an informed buying decision.
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