The Good Class Bungalow is located at the corner of Gallop Park Road and Farrer Road and has a land area of 14,844 sq ft (Picture: JNA Capital Markets)SINGAPORE (EDGEPROP) - In the Gallop Road-Wollerton Park Good Class Bungalow (GCB) area, a GCB at the corner of Gallop Park Road and Farrer Road is up for sale via an expression of interest (EOI) exercise at a guide price of $32 million. The GCB sits on an elevated land plot measuring 14,844 sq ft, which means the guide price works out to $2,156 p
is up for sale via an expression of interest exercise at a guide price of $32 million. The GCB sits on an elevated land plot measuring 14,844 sq ft, which means the guide price works out to $2,156 psf.
Lai notes that the property’s large land area, coupled with the age of the existing home, makes the site an ideal candidate for redevelopment. “It’s a great plot for buyers looking to build a brand-new home that maximises the available land area,” she says. Subject to approval from relevant authorities, the new home could have two storeys plus an attic.Pricing in construction costs
For the floor plan, a C-shaped layout was chosen, allowing most rooms to overlook a central courtyard that serves as a focal point. The communal spaces of the home, including the formal living and dining area, will be on the first floor, while the upper floors will house the family’s living spaces. The new home can accommodate up to 13 bedrooms.Based on the plans drawn up, Lai says the new home could cost around $6 million to $8 million, depending on the materials used.
The most recent transaction in the Gallop Road-Woollerton Park GCB area occurred in March when a bungalow on Woollerton Drive with a land area of 8,646 sq ft sold for $24.4 million . Before that, a GCB on Gallop Park Road that belonged to the late daughter-in-law of Khoo Kay Hian, founder of stockbroking firm Kay Hian and Co, fetched $35.5 million in March 2022.
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