SINGAPORE (EDGEPROP) - A Good Class Bungalow (GCB) located along Swiss Club Road has been put up for sale via private treaty at $39.9 million, which translates to a land rate of $1,874 psf, as announced on Aug 18.

Read also: Penthouse at Mon Jervois up for sale at $2.9 mil

The GCB Luxury Homes division at ERA Capital Markets and Investment Sales (CMIS) is the sole marketing agent for the property.

Located within the tranquil Swiss Club Road GCB enclave, the freehold land plot spans 21,293 sq ft. It is occupied by a 10,600 sq ft, two-storey bungalow with an attic, according to Douglas Wong, senior director of CMIS. The vast size makes it suitable for big or multi-generation families, he adds.

Built in 1997, the house is clad with textured bricks. Featuring a floor-to-ceiling window, the first storey opens to an internal courtyard. A driveway leads to the house from the main street and keeps the street noise at bay. The property is currently tenanted.

The nearest MRT station, Sixth Avenue (on the Downtown Line), is located a short walk away. Education institutions nearby include Methodist Girls’ School (Primary), Pei Hwa Presbyterian Primary School and Raffles Girls Primary School.

Demand for GCBs — a rare residential asset class in Singapore — are fuelled by local ultra-high-net-worth individuals, newly minted Singapore citizens and younger new market entrants, says Wong.

Check out the latest listings near Swiss Club Road, Sixth Avenue MRT Station, Methodist Girls’ School (Primary), Pei Hwa Presbyterian Primary School, Raffles Girls Primary School