Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Teo Hong Lim, executive chairman of real estate builder Roxy-Pacific Holdings, disclosed that 71 out of 113 units at Bagnall Haus, an estate residence, were sold on Jan 18, the initial day of its start. This interprets to a sales rate of nearly 63%, with an average transacted price of $2,490 psf.
Situated throughout Upper East Coast Roadway in District 16, Bagnall Haus has 113 residential units spread out across three five-storey blocks on a freehold site 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.
According to Chu, Bagnall Haus take advantage of its distance to developed amenities and respectable institutions, including Temasek Primary School, that is within a 1km distance.
According to Teo, more than 90% of the customers were Singaporeans. “The majority of them were end-users with varying spending plans,” he stated. The take-up figure was good throughout all unit types, with two- and three-bedroom units being the most prominent. However, there was even need for the larger five-bedroom units, he added
” We believe that the rates, normally in the sweet area of under $3 million, appeals to most purchasers,” says Gafoor.
In addition to the 71 household units marketed, both strata-titled shop units on the ground level of Bagnall Haus, each measuring 172 sq ft, have also been grabbed for $688,000 ($ 4,000 psf) each.
” Pent-up need, stemming from a 15-year wait for a brand-new venture in the area, in addition to its property period, helped drive sales at Bagnall Haus,” says Mark Yip, CEO of Huttons Asia. “It is also rare to locate a freehold venture right next to an MRT stop. Purchasers recognised the potential advantages of the upcoming improvement of the Bayshore precinct.”
The average transacted cost of $2,490 psf was also “convincing for a well-located estate project”, notes Gafoor. “Customers observed value in the venture, especially considering that some 99-year leasehold new launches in the Outside Central Region (OCR)– such as Chuan Park– had actually currently reached a fair price of $2,579 psf when it was released in November 2024.”
The property 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 Terminal, which will be part of an incorporated transport center presenting a brand-new bus shift within the upcoming Bayshore precinct. This transportation center will likewise belong to a mixed-use growth integrating retail and housing components.
” Property buyers were mostly owner-occupiers,” states Marcus Chu, CEO of ERA Singapore. While some were property owners of much older landed real estates wanting to scale down right into more recent and more manageable apartment or condos, others were families from the neighborhood seeking to enhancement to a freehold property, he adds.
Ismail Gafoor, CEO of PropNex, states that of the 71 non commercial units marketed at Bagnall Haus, about 59% were one- and two-bedroom units that brought prices just below $2.1 million. He adds that the three-bedroom units were also in high claim, with 18 of 20 units grabbed at costs ranging from $2.3 million to $2.7 million. The remaining 4- and five-bedroom unit kinds cost around $3 million to $3.8 million.
