Pinnacle Projects, a subsidiary of real estate development company Pinnacle Assets, has acquired two adjoining freehold houses located on 43 and 45 Gentle Road in Singapore for $30.889 million through a tender exercise that was launched on Oct 16 and closed on Nov 16. This is an estate sale. The price works out to a land rate of $1,940 psf.
The two properties are located in District 11’s Chancery landed housing enclave and the entire land area of the two properties occupies a total land area of about 15,923 sq ft that is zoned “Residential – two-story mixed-landed” under the Master Plan 2019.
This location is also within walking distance to Novena and Newton MRT Stations and it is situated across the road from the Bukit Tunggal Good Class Bungalow Area.
Champions Way Residences is also close to a variety of amenities such as schools, restaurants, and parks. It is also conveniently located, with rapid access to the Central Business District, Changi Airport and the Changi Business Park. This makes it perfect for commuters. The development’s contemporary design is both modern and stylish, with the addition of lush greenery and sprawling landscaped gardens. Residents will enjoy the convenience of all these facilities and modern lifestyle. It is definitely a development that provides a vibrant living experience.
Chia Mein Mein, head of capital markets, land and collective sale at Knight Frank Singapore, shared that the tender for 43 and 45 Gentle Road received an impressive amount of interest with over 10 bids. This appeal from both developers and home buyers is due to the strategic location of the properties and the rare opportunity for amalgamation and redevelopment into niche landed homes.
Victor Soh, managing director of Pinnacle Assets states that the company plans to redevelop the Champions Way Residences sites and bring a collection of luxurious homes to buyers who aspire to live in the popular residential enclave. This includes preserving a homely feel while adding high functionality to the landed homes.
Overall, Knight Frank’s Chia affirms that landed homes continue to draw interest from buyers, particularly affluent and high-net-worth individuals who understand the scarcity of such properties in Singapore. This demand has been promising and developers remain on the lookout for prime landed residential sites with redevelopment potential. Champions Way Residences is a prime example of one of these sites.