Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Ismail Gafoor, Chief Executive Officer of PropNex, says that of the 71 residential units marketed at Bagnall Haus, approximately 59% were one- and two-bedroom units that brought costs just listed below $2.1 million. He includes that the three-bedroom units were also in high sale, with 18 of 20 units purchased at prices ranging from $2.3 million to $2.7 million. The standing 4- and five-bedroom unit kinds sold for around $3 million to $3.8 million.
Situated along Upper East Coast Road in District 16, Bagnall Haus has 113 non commercial units spread out across three five-storey blocks on an estate place of 74,280 sq ft. Units are a mix of one-bedroom plus flexi of 495 sq ft and five-bedrooms of 1,528 sq ft.
Along with the 71 household units offered, both strata-titled shop units on the ground floor of Bagnall Haus, each estimating 172 sq ft, have also been gotten for $688,000 ($ 4,000 psf) each.
According to Chu, Bagnall Haus take advantage of its proximity to developed amenities and respectable schools, including Temasek Primary School, that is within a 1km distance.
The average negotiated cost of $2,490 psf was also “convincing for a well-located property project”, indicates Gafoor. “Buyers saw worth in the venture, particularly thinking about that some 99-year leasehold brand-new release in the Outside Central Region (OCR)– like Chuan Park– had actually currently gotten to a standard price of $2,579 psf when it was introduced in November 2024.”
” Property buyers were mainly owner-occupiers,” states Marcus Chu, CEO of ERA Singapore. While some were property owners of much older landed properties wanting to scale down right into more recent and more workable houses, others were families from the neighbourhood seeking to enhancement to a freehold property, he includes.
The development is also inside walking distance of the upcoming Sungei Bedok MRT Stop, an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Terminal, that will belong to an incorporated transportation hub providing a brand-new bus shift within the upcoming Bayshore precinct. This transportation hub will likewise be part of a mixed-use advancement incorporating retail and residential components.
Teo Hong Lim, executive chairman of property developer Roxy-Pacific Holdings, announced that 71 out of 113 units at Bagnall Haus, an estate condominium, were sold on Jan 18, the first day of its release. This interprets to a sales rate of almost 63%, with a common negotiated rate of $2,490 psf.
” We believe that the rates, usually in the sweet area of under $3 million, attract most buyers,” states Gafoor.
” Pent-up demand, coming from a 15-year hold-up for a brand-new project in the area, along with its property period, assisted drive sales at Bagnall Haus,” claims Mark Yip, Chief Executive Officer of Huttons Asia. “It is also rare to locate a freehold project right alongside an MRT station. Purchasers identified the possible perks of the upcoming transformation of the Bayshore precinct.”
According to Teo, over 90% of the customers were Singaporeans. “The majority of them were actually end-users with assorting budget plans,” he said. The take-up rate was strong across all unit kinds, with 2- and three-bedroom units being the most prominent. Nonetheless, there was as well interest for the bigger five-bedroom units, he included