Special Feature

Opportunity to buy rare, freehold retro bungalow on Gilstead Rd for $16.99 mil

September 16, 2024 4:52 PM SGT

Brenda Zee (left) and Bibi Wong are the exclusive marketing agents for the rare, freehold bungalow at 45 Gilstead Road (All photos by Samuel Isaac Chua/EdgeProp Singapore)

A renewal is taking place in the prestigious housing enclave of Gilstead Road, Gentle Road and Buckley Road, located just off Newton Road in prime District 11.

"The housing estate used to be a predominantly bungalow area and home to many of the Who's Who in Singapore," says Brenda Zee, senior executive group division director at ERA Realty Network.

Over the years, many of the bungalows were sold to buyers who saw the opportunity to redevelop them into semi-detached houses, strata-titled landed housing projects or low-rise condominiums. Examples include Buckley Classique, Gilstead Two and Villas @ Gilstead.

The most significant deal was the sale of two adjacent freehold bungalows at 32 and 34 Gilstead Road with a site area of 43,458 sq ft for $70 million ($1,611 psf), according to a caveat lodged in December 2021. The buyer was Kheng Leong Co, which is redeveloping the site into a new luxury 14-unit condo named 32 Gilstead.

The exterior of the 1970s bungalow with its spacious garden and driveway (All pictures by Samuel Isaac Chua/EdgeProp Singapore)

Units at 32 Gilstead average 4,200 sq ft in size and have four en suite bedrooms. Since its launch in April, five units have been sold at prices ranging from $14.4 million to $14.7 million or $3,431 psf to $3,505 psf.

It has set a new benchmark in terms of luxury and prices for the neighbourhood.

"The whole area is being gentrified with a new generation of younger, affluent and more cosmopolitan residents moving into these new high-end homes,” says Bibi Wong, marketing director of ERA Realty Network, who is familiar with the neighbourhood, having grown up there.

It is a tranquil and leafy neighbourhood, just 1km from top schools such as Anglo-Chinese School (Primary), St Joseph's Institution and Catholic Junior College. It is within 1-2km from Anglo-Chinese School (Junior), Singapore Chinese Girls' School and CHIJ Primary (Toa Payoh).

For those with young children, St James Church Kindergarten (Gilstead) and EtonHouse Pre-School Newton are just a short drive away. International schools such as EtonHouse International School Orchard and Chatsworth International School are also nearby.

The area is being gentrified with a new generation of homes

One of the few bungalows that has remained unchanged since it was built in the late 1970s is the property at 45 Gilstead Road. The double-storey house has a built-up area of around 3,491 sq ft with five bedrooms and five bathrooms. It sits on a freehold plot of 7,301 sq ft.

The house is already over 40 years old, so it is ideal for those who want to redevelop the property into a new, larger bungalow of 2½ storeys or a pair of semi-detached houses, subject to approval from the authorities, says Zee. “It is also an excellent opportunity for families who want a bungalow in a prime residential estate with the convenience of amenities nearby. With gentrification, the neighbourhood will enjoy an uplift in prices in the future,” she adds.

"Over the years, the family has been approached by developers to sell the house, but they were not ready then," says Wong, who is jointly marketing the property with Zee.

The bungalow at 45 Gilstead Road is now available for sale at $16.99 million ($2,327 psf).

The property is ideal for those who are seeking a redevelopment opportunity

Gilstead Road is near three MRT stations. Newton MRT (interchange for the North-South and Downtown Lines) and Stevens MRT (interchange for the Downtown Line and Thomson-East Coast Line) are a 12-minute walk from 45 Gilstead Road. The Novena MRT Station (on the North-South Line) is a 14-minute walk away.

By car, the Orchard Road shopping strip is just seven minutes away, with the CBD a 12-minute drive via the Central Expressway and Pan Island Expressway.

The neighbourhood is close to the Novena medical hub. Mount Elizabeth Novena Hospital, Royal Healthcare Medical Centre, KK Women's and Children's Hospital are nearby.

At the heart of the medical hub is the integrated healthcare hub, Health City Novena. It comprises 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.

The existing property has a big yard

Malls in the area include United Square, Velocity @ Novena Square and Square 2, which are linked underground to the Novena MRT Station. There are also eateries at Goldhill Plaza and Royal Square.

Here is where one can take a step into the past with all the luxuries of the present in this one-of-a-kind bungalow, to embrace the charm and elegance of a bygone era while indulging in the contemporary conveniences of today. Seize this moment to create your own story in this exceptional estate on Gilstead Road.