News: Nassim Road GCB for sale for $175m

Oct 17, 2019

The two-storey bungalow has a total floor area of about 13,839 sq ft and is a mere five-minute walk to the Botanic Gardens, and is a 10-minute drive to the CBD. Image source: CBRE

A two-storey conservation good class bungalow (GCB) at 40 Nassim Road has been put up for sale via public tender, with a guide price of $175 million, revealed marketing agent CBRE.

Enjoying a wide frontage of around 70 metres, the site is composite of three adjoining plots measuring 14,867 sq ft, 15,779 sq ft and 28,138 sq ft. This provides the prospective buyer the flexibility to redevelop the property to accommodate three GCBs.

The two-storey bungalow has a total floor area of about 13,839 sq ft and comes with an entrance hall, four en-suite bedrooms, a dining room, a living room, a helper’s room and an internal landscaped courtyard with a pond. It also has a large car porch and garage that could house seven cars.

A mere five-minute walk to the Botanic Gardens, the property is situated just off the main shopping strip of Orchard Road and is a 10 minutes’ drive to the CBD.

“Investors are well cognizant of the premium that Nassim Road commands in the GCB market in Singapore. In fact, the GCBs at Nassim Road continue to set new benchmarks, evidenced by the two recent GCB transactions in the immediate vicinity,” said Angela Lim, senior manager of capital markets at CBRE.

33 Nassim Road, for instance, was sold for $230 million or $2,721 per sq ft (psf), while 50 Cluny Road was transacted for $45 million or $2,980 psf.

With this, Lim expects the property to receive keen interest from both investors and owner occupiers.

“This is an exceptional opportunity to acquire a massive GCB land plot within the esteemed Nassim Road area, as such ownerships are typically tightly held,” she added.

The tender for 40 Nassim Road closes on 14 November.

While you’re here, check out Singapore properties for sale. Or, read our handy property buying guides to help you own a property.

 

Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

 

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