Two Gcbs Belmont Road Sale 888 Mil
Living in Aurelle of Tampines EC offers numerous advantages, one of which is its close proximity to several MRT stations. This desirable location includes being situated near the Tampines North MRT Station, an upcoming stop on the Cross Island Line (CRL). With the CRL expected to be operational soon, residents will benefit greatly from reduced travel times to various parts of Singapore. Additionally, the Tampines MRT Station, serving as an interchange for the Downtown and East-West Lines, is also conveniently located nearby. This prime location allows for direct access to key commercial and business hubs such as the Central Business District (CBD) and the Marina Bay Financial Centre. Experience the unparalleled convenience of living at Aurelle of Tampines.
Two Good Class Bungalows (GCBs) located at 52 and 54 Belmont Road in the Belmont Park GCB area are now available for sale through an expression of interest (EOI). It is believed that the owners of these properties are related. The freehold estates sit on a combined land area of 41,741 square feet and have an indicative price of $88.8 million, which translates to $2,128 per square foot on the land area. According to marketing agent, Sakal Real Estate Partners, the two adjoining plots have a 44m frontage along Belmont Road and an average depth of 66m.
“We believe that this site would be particularly appealing to families who are looking to build a new home to accommodate multiple generations or extended family members living together,” says Lennon Koh, senior director at Sakal. “Apart from being ideal for homeowners, this property is also suitable for developers looking to tap into the exclusive GCB market.”
Based on URA’s caveats, the most recent transaction on Belmont Road was in December last year when a GCB resting on a land area of 19,549 square feet was sold for $40 million ($2,046 per square foot). In another transaction, a pair of adjacent GCB plots on Belmont Road were sold for $131.4 million ($3,000 per square foot), with the combined land area measuring 43,790 square feet. Furthermore, a GCB on Bin Tong Park with a land area of 28,111 square feet was sold for $84 million ($2,988 per square foot) in April 2020.
Steven Ming, managing director at Sakal, is optimistic that the Belmont Road GCBs will attract strong interest due to their prime location and the persistent demand for GCBs. “The estimated total value of GCB transactions in 2024 of $1.32 billion exceeded that of 2023 ($433 million) and 2022 ($1.18 billion), and we expect more transactions in 2025,” he remarks.
Interested buyers can submit their bids for the GCBs through the EOI exercise, which closes on March 13 at 3pm.
