A Good Class Bungalow (GCB) in the Dalve Estate-Nassim Road enclave has been put up for sale via an expression of interest (EOI) exercise with an indicative price of $60 million. According to a Jan 8 press release by marketing agent Cushman & Wakefield, the price translates to $2,742 psf, reflecting a land area of 21,881 sq ft.

Shaun Poh, executive director of capital markets at Cushman & Wakefield, says the freehold plot is situated on elevated ground and is prime for redevelopment. “It is perfect for buyers who want to build their ideal multi-generational home from scratch or developers who could redevelop the plot into a luxurious, state-of-the-art GCB for discerning individuals.”

The property is adjacent to the Singapore Botanic Gardens and is a short drive away from the Orchard Road shopping belt. It is also close to schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution and Hwa Chong Institution.

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Poh adds: “The neighbourhood is extremely sought after by ultra-high net worth individuals, and this is evident from the recent transactions at Nassim Road and Tanglin Hill where we see record breaking land rates of $4,500 psf and $6,200 psf respectively.”

The EOI for the property will close on Feb 11 by 3pm.