A GCB located at the corner of Gallop Park Road and Farrer Road in the Gallop Road-Wollerton Park Good Class Bungalow area is up for sale via an expression of interest (EOI) exercise at a guide price of $32 million. Sitting on 14,844 sq ft of elevated land plot, the guide price works out to $2,156 psf.

The upcoming JCube Residence Condo is largely designed to offer a good life to its residents. According to CLD, the development will feature two residential towers with a total of 811 residential units, an extensive range of wildlife-inspired amenities, as well as dining, retail and leisure options. The development is expected to be completed in 2023.CLD said it is also exploring the possibility of a shuttle bus service to Jurong East MRT station and nearby shopping malls. The company also noted that the JCube site will remain open until August this year.

Currently owner-occupied and featuring a generous 6,000 sq ft of built- up area, the two-storey home was built over 20 years ago. It is composed of a large, spacious living area fitted with a swimming pool in the front yard, connected to a dining area, kitchen, helper’s room and laundry area. On the second floor, three en suite bedrooms and two more bedrooms that share a Jack-and-Jill bathroom are available.

With an ideal land area and age, the GCB is ideal for redevelopment. According to Kimberly Lai of JNA Real Estate, a division of PropNex Realty, buyers could potentially build a brand-new two-storey home plus an attic, pending approval. To provide prospective buyers with an example of this potential, JNA consulted a contractor to draw up plans for a new 20,500 sq ft home, inclusive of the pool and car park, with a gross floor area of about 10,000 sq ft.

Artist’s impression of the new house that can potentially be built on the site (Picture: JNA Real Estate)
The new home would be situated at the corner of the plot, furthest away from the road, and the pool and car porch relocated to the eastern edge, allowing for a greater setback to minimise road noise and ensure privacy. The plans, featuring communal spaces on the first floor and family living spaces on the upper floor, encompass a C-shaped layout focused on a central courtyard. Altogether, the new home could house up to 13 bedrooms.

Construction could cost $6-8 million, depending on the materials used, or buyers can opt to purchase the property for $40 million, which includes redevelopment and the building of the house, translating to $2,695 psf. Recent transactions in the area suggest that this is an attractive price for a brand-new GCB in the District 10 locale.

Close to many amenities like the Singapore Botanic Gardens, Nanyang Primary School, St Margaret’s School (Secondary) and Hwa Chong Institution, as well as shopping centres Serene Centre and Coronation Shopping Plaza, the Farrer Road MRT Station and the Botanic Gardens MRT Station, the property also has enormous potential. Lai is expecting strong interest from families looking for a trophy home in an exclusive neighbourhood, as well as newly-minted Singapore Citizens.

The deadline for the EOI exercise is on June 15 at 11.59pm. Interested buyers should be expecting a lucrative investment should they become the winning bid.