Uncompleted GCB on Chestnut Drive going for $38.88 mil

A Good Class Bungalow (GCB) in Bukit Panjang is now listed for sale at $38.88 million, with a land area of 14,526 sq ft. The 999-year leasehold site is located on Chestnut Drive and sits in the Chestnut Avenue GCB area, the sole demarcated GCB neighbourhood in the vicinity. The other nearby landed housing zones are three-storey mixed estates on Cashew Road and Petir Road.

At present, the uncompleted property comprises a two-storey detached house with a basement and an attic. It is expected to attain its temporary occupation permit (TOP) next year, with six ensuite bedrooms, a theatre hall, a swimming pool with cascading water feature, a fully equipped wet and dry kitchen, and room for a gym or entertainment area. Solar panels and a smart home system will also be included.

The planned built-up area of the GCB is 19,481 sq ft which, according to marketing agent PropNex Realty, gives the $38.99 million price tag an approximate value of $1,996 psf. Henry Benjamin, head of GCB and prestige landed at PropNex, commented that this gives purchasers an entry point into the prestigious GCB market at a more reasonable price compared to similar GCBs in District 10 and District 11.

Benjamin adds that brand-new GCBs are highly sought after and there is limited stock on the market – meaning it is essential for interested buyers to act fast. The site Champions Way Condo is available for sale through private treaty.