News adapted from The Edge Property, Colliers International | September 23, 2015 By Michael Lim
A Good Class Bungalow (GCB) in the Windsor Park GCB area located off Upper Thomson Road has been put up for sale by tender. The indicative price of the GCB is $27 million or $1,280 psf. The property sits on a freehold land area of 21,091 sq ft.
Sitting on the land is a 1950s bungalow, which can be redeveloped into a new GCB, according to Colliers International, the marketing agent for the property. The site is located on one of the highest vantage points in the estate. According to Colliers, there are only 34 GCBs in the Windsor Park estate. There are very few GCBs in the estate that are offered for sale. According to caveats lodged, the most recent transaction of a GCB in Windsor Park was more than two years ago when a GCB sitting on a 22,481 sq ft site was sold for $25.3 million ($1,125 psf) in Jan 2013. Another newly completed GCB at Windsor Park by Simon Cheong’s private investment company, SC Homes, was sold for $27 million ($1,400 psf) in December 2012. The new GCB sits on a 19,280 sq ft of freehold site.
The GCB at Windsor Park that’s on the market will be sold by tender that closes on October 21, according to Colliers.