Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Teo Hong Lim, executive director of real estate developer Roxy-Pacific Holdings, released that 71 out of 113 units at Bagnall Haus, an estate condo, were sold off on Jan 18, the initial day of its release. This interprets to a sales rate of nearly 63%, with a regular transacted rate of $2,490 psf.
Situated throughout Upper East Coast Road in District 16, Bagnall Haus has 113 household units spread out across 3 five-storey blocks on an estate location 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.
” Homebuyers were mostly owner-occupiers,” states Marcus Chu, CEO of ERA Singapore. Whilst some were property owners of much older landed real estates seeking to downsize into more recent and more manageable houses, others were family members from the neighbourhood seeking to improve to a freehold property, he includes.
” Pent-up need, originating from a 15-year delay for a new venture in the location, together with its freehold period, assisted drive sales at Bagnall Haus,” claims Mark Yip, CEO of Huttons Asia. “It is also uncommon to locate a freehold venture right beside an MRT station. Buyers recognised the prospective advantages of the upcoming makeover of the Bayshore precinct.”
” We believe that the rates, generally in the pleasant spot of under $3 million, attract most purchasers,” states Gafoor.
According to Chu, Bagnall Haus gain from its closeness to established services and credible schools, providing Temasek Primary School, that is within a 1km radius.
In addition to the 71 residential units offered, both strata-titled store units on the ground floor of Bagnall Haus, each estimating 172 sq ft, have also been snapped up for $688,000 ($ 4,000 psf) each.
The development is in addition within walking distance of the upcoming Sungei Bedok MRT Station, an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will belong to an integrated transportation center featuring a new bus interchange within the upcoming Bayshore precinct. This transport center will likewise belong to a mixed-use advancement incorporating retail and housing parts.
Ismail Gafoor, CEO of PropNex, claims that of the 71 residential units cost Bagnall Haus, about 59% were one- and two-bedroom units that fetched prices simply listed below $2.1 million. He includes that the three-bedroom units were also in high claim, with 18 of 20 units got at rates varying from $2.3 million to $2.7 million. The standing 4- and five-bedroom unit types cost around $3 million to $3.8 million.
According to Teo, over 90% of the purchasers were Singaporeans. “The majority of them were end-users with assorting spending plans,” he stated. The take-up figure was strong across all unit types, with 2- and three-bedroom units being the best prominent. Nevertheless, there was as well interest for the larger five-bedroom units, he included
The normal worked out cost of $2,490 psf was additionally “engaging for a well-located estate project”, notes Gafoor. “Customers viewed value in the venture, mainly considering that some 99-year leasehold new release in the Outside Central Region (OCR)– including Chuan Park– had actually currently gotten to a fair value of $2,579 psf when it was released in November 2024.”
