Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
The regular transacted cost of $2,490 psf was also “compelling for a well-located property project”, notes Gafoor. “Purchasers saw worth in the project, particularly considering that some 99-year leasehold new release in the Outside Central Region (OCR)– like Chuan Park– had actually already hit a fair value of $2,579 psf when it was introduced in November 2024.”
” We believe that the rates, usually in the sweet place of under $3 million, entice a lot of purchasers,” claims Gafoor.
The development is in addition inside walking range of the upcoming Sungei Bedok MRT Stop, an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, that will belong to an incorporated transportation center featuring a new bus interchange within the upcoming Bayshore precinct. This transport center will definitely also belong to a mixed-use development integrating retail and housing factors.
Teo Hong Lim, exec director of property developer Roxy-Pacific Holdings, disclosed that 71 out of 113 units at Bagnall Haus, a property condominium, were sold off on Jan 18, the first day of its launch. This equates to a sales rate of almost 63%, with an average transacted cost of $2,490 psf.
According to Teo, beyond 90% of the buyers were Singaporeans. “A lot of them were actually end-users with assorting spending plans,” he stated. The take-up rate was good across all unit types, with two- and three-bedroom units being the most preferred. However, there was as well interest for the bigger five-bedroom units, he added
” Property buyers were mainly owner-occupiers,” states Marcus Chu, Chief Executive Officer of ERA Singapore. Whilst some were property owners of much older landed real estates seeking to scale down right into more recent and more manageable houses, others were households from the neighbourhood seeking to improve to a freehold property, he includes.
Ismail Gafoor, Chief Executive Officer of PropNex, states that of the 71 residential units cost Bagnall Haus, about 59% were one- and two-bedroom units that fetched prices just listed below $2.1 million. He includes that the three-bedroom units were also in high claim, with 18 of 20 units grabbed at rates varying from $2.3 million to $2.7 million. The standing four- and five-bedroom unit types cost around $3 million to $3.8 million.
In addition to the 71 household units sold, both strata-titled store units on the ground level of Bagnall Haus, each estimating 172 sq ft, have also been grabbed for $688,000 ($ 4,000 psf) each.
According to Chu, Bagnall Haus gain from its closeness to developed features and credible schools, including Temasek Primary School, that is within a 1km span.
” Pent-up need, coming from a 15-year delay for a brand-new project in the location, along with its property tenure, assisted drive sales at Bagnall Haus,” states Mark Yip, Chief Executive Officer of Huttons Asia. “It is also rare to locate a property venture right next to an MRT terminal. Purchasers recognised the prospective advantages of the upcoming improvement of the Bayshore precinct.”
Found throughout Upper East Coast Road in District 16, Bagnall Haus has 113 residential units spread throughout 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.
