Wednesday, October 17, 2012

Huge property on sale for S$82m

An old two-storey bungalow built on a large site measuring 4,100 sq m is up for sale at an eye-popping price tag of S$82 million, according to The New Paper.

Comprising two land parcels of 1,764 and 2,430 sq m, the property at No. 4 Jalan Asuhan could set a new record for the most expensive freehold ‘Good Class Bungalow’ (GCB) in Singapore, experts said.

It is located near Adam Road Food Centre and is nestled on top of a hill, offering elevated and unblocked views of the city.

Although the bungalow looks modest, it was a sight to behold in its heyday, according to marketing agent Stella Hoh from Land Empire.

“It was a grand place and held many garden parties,” she said, adding that “a Chinese architect had designed the bungalow, giving it the western influence with roof tiles imported from Europe. Today, a GCB of this size is rare”.

While it is unclear how much the original owner Seet Teck Tuan (deceased) paid for the property, what’s known is that it was acquired in the 1950s when a new terrace house in Opera Estate (186 sq m) would have been sold for around S$6,000.

View the original article here

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