Two Good Class Bungalows (GCB) located in Peirce Road off Holland Road has been placed in the market for sale by expression of interest. The adjacent bungalows are being sold together for $65 million and have a combined land area of 32,478 sq ft.
The Business Times previously reported that developer Simon Cheong had purchased 6 bungalows in the area for a total of $35 million in 2006, three of which have already been sold. The bungalows are zoned “residential” and can be redeveloped or for immediate occupancy as they are currently vacant.
Cushman & Wakefield is the appointed marketing agent for the sale of the Peirce Road bungalows, and in a statement by the company’s executive director of capital markets, Mr Shaun Poh expressed that they “have often been approached by clients looking to acquire large prime GCB plots of above 30,000 sq ft”, however there is a shortage of these types of GCBs as most are usually between 15,000 sq ft to 17,000 sq ft.
The sales exercise for the Peirce Road bungalows will close on 27 September.
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