Opportunity Buy Rare Freehold Retro Bungalow Gilstead Rd 1699 Mil
Located in the fully developed residential area of Tampines, Singapore, lies a plethora of major shopping malls catering to all needs and desires. These include Tampines Mall, Century Square, and Tampines 1, which are conveniently situated near the Tampines MRT station and just a short drive from Aurelle of Tampines EC. With a variety of retail stores, ranging from popular high street fashion brands and electronic shops to homeware and sports equipment, these malls offer residents of Aurelle of Tampines at Tampines Street 62 endless shopping options right at their doorstep.
Gilstead Road, Gentle Road and Buckley Road, located in the exclusive district of District 11, is currently undergoing a rejuvenation. According to Brenda Zee, senior executive group division director at ERA Realty Network, this prestigious housing enclave used to be mainly occupied by bungalows and was the home of many of Singapore’s elite.
However, over the years, many of these bungalows were sold, and the new owners saw the potential in redeveloping them into semi-detached houses, strata-titled landed housing projects, or low-rise condominiums. Some examples include Buckley Classique, Gilstead Two, and Villas @ Gilstead.
The most significant transaction in recent years was the sale of two adjacent freehold bungalows at 32 and 34 Gilstead Road, with a combined site area of 43,458 sq ft, for $70 million ($1,611 psf). The buyer, Kheng Leong Co, is redeveloping the site into a luxury 14-unit condominium named 32 Gilstead. Since its launch in April 2021, the development has set a new benchmark in terms of luxury and prices for the neighborhood, with units averaging at 4,200 sq ft and four en suite bedrooms. As of now, five units have been sold at prices ranging from $14.4 million to $14.7 million, or $3,431 psf to $3,505 psf.
“The entire neighborhood is experiencing a transformation, with a new generation of affluent and cosmopolitan residents choosing to call these high-end homes their home,” says Bibi Wong, marketing director of ERA Realty Network, who grew up in the area.
Gilstead Road is known for its tranquil and leafy surroundings and is highly sought after due to its prime location, being just 1km from top schools such as Anglo-Chinese School (Primary), St Joseph’s Institution, and Catholic Junior College. It is also within 1-2km from other reputable schools like Anglo-Chinese School (Junior), Singapore Chinese Girls’ School, and CHIJ Primary (Toa Payoh). For families with young children, there are also options such as St James Church Kindergarten (Gilstead) and EtonHouse Pre-School Newton, while international schools like EtonHouse International School Orchard and Chatsworth International School are nearby.
Despite the ongoing rejuvenation project, one of the few remaining bungalows that have remained unchanged since its construction in the late 1970s is located at 45 Gilstead Road. This double-storey property boasts a built-up area of approximately 3,491 sq ft, with five bedrooms and five bathrooms, sitting on a freehold plot of 7,301 sq ft. According to Zee, this 40-year-old property presents an excellent opportunity for buyers looking to redevelop it into a larger bungalow or a pair of semi-detached houses, subject to approval from the authorities. “For families looking for a bungalow in a prime residential area with all amenities nearby, this is the perfect opportunity. With the ongoing rejuvenation project, we can expect an uplift in prices in the future,” she adds.
“The family has been approached by developers over the years to sell the property, but they were not ready then,” says Wong, who is jointly marketing the property with Zee. Interested buyers can now purchase this property at 45 Gilstead Road for $16.99 million ($2,327 psf).
Gilstead Road also offers excellent connectivity, with three MRT stations located nearby. Both Newton MRT (interchange for the North-South and Downtown Lines) and Stevens MRT (interchange for the Downtown Line and Thomson-East Coast Line) are just a 12-minute walk away, while Novena MRT Station (on the North-South Line) is a 14-minute stroll away. It is also a short seven-minute drive to Orchard Road shopping strip and a 12-minute drive to the CBD via the Central Expressway and Pan Island Expressway.
Furthermore, Gilstead Road is in close proximity to the Novena medical hub, with Mount Elizabeth Novena Hospital, Royal Healthcare Medical Centre, KK Women’s and Children’s Hospital just a stone’s throw away. The heart of the medical hub is Health City Novena, an integrated healthcare hub that includes Tan Tock Seng Hospital, Dover Park Hospice, Ren Ci Hospital, the National Skin Centre, the National Neuroscience Institute, and the Lee Kong Chian School of Medicine.
Residents can also easily access nearby malls such as United Square, Velocity @ Novena Square, and Square 2, all of which are connected underground to the Novena MRT Station. There are also plenty of dining options at Goldhill Plaza and Royal Square.
In summary, Gilstead Road presents a unique opportunity for buyers to enjoy the best of both worlds – embracing the charm and elegance of a bygone era while indulging in the contemporary conveniences of today. With all these factors in mind, Gilstead Road is undoubtedly a prime location for anyone looking to create their own story in this exceptional neighborhood. For more details and viewing, interested parties can contact:
Brenda Zee
Senior Executive Group Division Director, ERA Realty Network
94509938
Bibi Wong
Marketing Director, ERA Realty Network
96686574
