Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
The normal negotiated price of $2,490 psf was additionally “compelling for a well-located property project”, indicates Gafoor. “Customers observed worth in the venture, mainly thinking about that some 99-year leasehold brand-new release in the Outside Central Region (OCR)– including Chuan Park– had currently reached a fair price of $2,579 psf when it was introduced in November 2024.”
” Property buyers were predominantly owner-occupiers,” says Marcus Chu, CEO of ERA Singapore. While some were property owners of older landed properties wanting to scale down into newer and more workable apartment or condos, others were families from the neighborhood seeking to upgrade to a freehold property, he adds.
Cuscaden Reserve showflat location
Situated along Upper East Coast Roadway in District 16, Bagnall Haus has 113 non commercial units spread out throughout 3 five-storey blocks on a property 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.
Ismail Gafoor, Chief Executive Officer of PropNex, states that of the 71 residential units reselled at Bagnall Haus, approximately 59% were one- and two-bedroom units that fetched rates just below $2.1 million. He adds that the three-bedroom units were also in high demand, with 18 of 20 units got at costs varying from $2.3 million to $2.7 million. The standing four- and five-bedroom unit types sold for around $3 million to $3.8 million.
Teo Hong Lim, exec chairman of real estate developer Roxy-Pacific Holdings, announced that 71 out of 113 units at Bagnall Haus, an estate condominium, were sold off on Jan 18, the first day of its launch. This equates to a sales rate of close to 63%, with a common negotiated price of $2,490 psf.
The property development is also within walking range of the upcoming Sungei Bedok MRT Stop, a shift for the Downtown and Thomson-East Coast lines. It is simply one stop from Bedok South MRT Terminal, which will belong to an integrated transportation hub presenting a new bus shift within the upcoming Bayshore precinct. This transportation center will definitely also be part of a mixed-use development incorporating retail and residential parts.
” We believe that the rates, normally in the sweet place of under $3 million, attract a lot of customers,” says Gafoor.
” Pent-up need, stemming from a 15-year hold-up for a new project in the location, in addition to its property period, helped drive sales at Bagnall Haus,” says Mark Yip, CEO of Huttons Asia. “It is also uncommon to locate a property venture right alongside an MRT terminal. Buyers recognised the potential benefits of the upcoming makeover of the Bayshore precinct.”
According to Chu, Bagnall Haus gain from its distance to developed features and respectable institutions, providing Temasek Primary School, which is within a 1km span.
According to Teo, over 90% of the purchasers were Singaporeans. “Most of them were actually end-users with assorting budget plans,” he claimed. The take-up rate was strong across all unit types, with two- and three-bedroom units being one of the most preferred. Nonetheless, there was as well interest for the larger five-bedroom units, he included
In addition to the 71 residential units sold, both strata-titled shop units on the ground floor of Bagnall Haus, each measuring 172 sq ft, have also been snapped up for $688,000 ($ 4,000 psf) each.
