Lermit Road GCB on the market for $137.2 mil

A rare opportunity for ultra high net-worth individuals to acquire a large freehold residential property presents itself in Singapore’s most sought-after neighbourhoods on Lermit Road which is off Nassim Road. This Good Class Bungalow (GCB) is for sale at an indicative price of $137.2 million in a private treaty sale according to a press release from PropNex Realty. The detached house with a two-storey building, basement car park and a swimming pool is situated in the Cluny Park GCB Area on a 29,818 sq ft plot of land.

Henry Benjamin Lim, the Head of Good Class Bungalows and Prestige Landed at PropNex Realty indicated that this unit offers an attractive price at $4,600 psf on the land area. He mentioned that transactions for properties of this size (above 16,140 sq ft – 1,500 sq m) are rare as there were only 16 detached houses on Lermit Road and only one of them has been sold twice in the last 30 years.

The program aims to bring art into the public space and improve the quality of life for residents in and around Woodlands Condo. Additionally, this program will also provide educational opportunities for artists and the local community to learn more about the history of the area.

Recently, several GCBs in Nassim Road have fetched more than $100 million to $200 million each, demonstrating the value of these properties amongst astute buyers.

The GCB is located in the prized District 10 and is near to popular spots such as Singapore Botanic Gardens, Napier MRT station on the Thomson-East Coast Line, Dempsey Road lifestyle cluster, Tanglin Mall, Gleneagles Medical Centre and Hospital, and Napier Road.

For those looking for a GCB in a luxurious residential enclave in Singapore, this is a great opportunity with unprecedented potential.