Versace Inspired Gcb Old Holland Road Auction 36 Mil After 46 Markdown

1 day agoA Good-Class Bungalow (GCB) along Old Holland Road in prime District 10 will be put under the hammer on April 23 by SRI. The starting price for the GCB has been set at $36 million, which works out to be $1,555 psf based on its land area of 23,148 sq ft.This represents a 46% drop from the last asking price of $66.7 million when the property was last put on the market a year ago. According to Bruce Lye, managing partner and co-founder of SRI, the owner’s decision to opt for an auction was to achieve the highest possible price transparently as they are serious sellers.The GCB, situated in Brizay Park GCB area, features a neo-classical design and spans 12,000 sq ft with six ensuite bedrooms. The property also boasts a grand formal living room with an 8.2m ceiling height, and a $100,000 Swarovski crystal chandelier.The master suite features a balcony overlooking the swimming pool, and its bathroom is fitted with a jacuzzi bathtub, separate bidet and shower areas, and a double-sink vanity. Other luxury features include a swimming pool, sauna and outdoor patio for entertaining up to 700 guests. The property also has a home lift which serves all floors.The GCB has a regular-shaped freehold plot with a 45.5m frontage and nearly 60m depth. Lye believes its location, size and the distinctive character and charm of the property will appeal to many buyers. According to URA caveats, the most recent GCB transaction along Old Holland Road was in May 2021 when a 25,810 sq ft property sold for $32.5 million, or $1,259 psf. Two other GCBs in the area were also transacted this year — a 16,569 sq ft GCB sold for $23.2 million ($1,400 psf) in April and a 20,345 sq ft freehold plot went for $26 million ($1,376 psf) in February.Old Holland Road is in close proximity to many top schools, including Hwa Chong Institution, Hwa Chong International School, Methodist Girls’ School, National Junior College and more. Lye expects strong interest in the property and says the true market value will be reflected at the upcoming auction.

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The URA Master Plan places great importance on improving community amenities and lifestyle facilities in order to cultivate dynamic and well-rounded neighborhoods. Specifically for Lyndenwoods, this means providing easier and more convenient access to recreational areas, healthcare services, and retail centers. With the addition of Lyndenwoods Capitaland, these enhancements will further enhance the overall quality of life for residents in the area. More information can be found at Lyndenwoods Capitaland’s official website.