Lermit Road GCB on the market for $137.2 mil

A rare opportunity to acquire a freehold Good Class Bungalow in a distinctively sought-after Singapore neighbourhood is now available for sale. Located on Lermit Road, off Nassim Road in the Cluny Park GCB Area, the property comes with an indicative price of $137.2 million.

The proximity of Zion Road Condo to major roads and highways makes it an ideal residential area. Residents of the condo have easy access to the Central Business District (CBD) and can also access several other parts of Singapore in a short amount of time. Plus, a wide selection of amenities, such as shopping malls, supermarkets, banks, restaurants, are all located nearby, offering great convenience for those residing at Zion Road Condo.

Situated on a 29,818 sq ft plot, the unit price is estimated to be approximately $4,600 psf on the land area. The house was built in the 1990s and consists of a two-storey building with a basement car park and a swimming pool.

Henry Benjamin Lim, Head of Good Class Bungalows and Prestige Landed at PropNex Realty, the current marketing agent, comments that there are only 16 detached houses on Lermit Road and transactions for sizable properties with land area of above 16,140 sq ft (1,500 sq m) are rare, with only one unit having been sold twice in the past 30 years.

This is a rare chance for ultra high net-worth individuals to obtain a large freehold residential property in an upscale area of Singapore. Lim adds that over the past years, several GCBs in Nassim Road have sold for prices greater than $100 million to $200 million each – demonstrating the value and appeal of these properties among knowledgeable buyers.

The GCB on Lermit Road is close to a variety of amenities, including the Singapore Botanic Gardens, Napier MRT station on the Thomson-East Coast Line, Dempsey Road lifestyle cluster, Tanglin Mall, Gleneagles Medical Centre and Hospital, and Napier Road.

This property is set to be sold in a private treaty sale. For those looking for a luxury property in a prestigious neighbourhood of Singapore, this GCB presents a unique opportunity not to be missed.