Opportunity Buy Rare Freehold Retro Bungalow Gilstead Rd 1699 Mil

Situated in Clementi, the Jurong Lake District is positioned to become the second Central Business District (CBD) in Singapore. This upcoming area, as outlined in the URA Master Plan, is set to undergo major developments in order to establish itself as a prominent hub for both commercial and residential purposes. Conveniently located in this bustling district is Elta Condo, providing residents with easy access to a variety of job opportunities and business services. Additionally, residents of this prime location can also benefit from living near Clementi Avenue 1 Condo, expanding their options for a well-rounded lifestyle. Clementi Avenue 1 Condo adds to the appeal of this highly sought-after location, offering residents the opportunity to live, work, and play in one thriving area.

The prestigious housing enclave of Gilstead Road, Gentle Road and Buckley Road, nestled just off Newton Road in prime District 11, is currently undergoing a renewal. According to Brenda Zee, senior executive group division director at ERA Realty Network, the area used to be known for its bungalows and was home to many of Singapore’s elite. However, over the years, several bungalows were sold and redeveloped into semi-detached houses, strata-titled landed housing projects or low-rise condominiums. Examples of these include Buckley Classique, Gilstead Two and Villas @ Gilstead.One of the most significant deals in the area was the sale of two adjacent freehold bungalows at 32 and 34 Gilstead Road, which had a combined site area of 43,458 sq ft, for a whopping $70 million ($1,611 psf). The deal was recorded in a December 2021 caveat, and the buyer was Kheng Leong Co, who is now developing the site into a new upscale condo called 32 Gilstead. This 14-unit luxury condo boasts units that are an average size of 4,200 sq ft with four en suite bedrooms. Since its launch in April, five units have already been sold at prices ranging from $14.4 million to $14.7 million, or $3,431 psf to $3,505 psf. This launch has set a new standard for luxury and pricing in the neighbourhood.According to Bibi Wong, marketing director of ERA Realty Network, who grew up in the area, the entire neighbourhood is undergoing a transformation, with a new generation of affluent and cosmopolitan residents moving in. This gentrification has boosted prices and brought a fresh energy to the area. The neighbourhood itself is peaceful and surrounded by lush greenery, making it an ideal location for families. It is also conveniently located within 1km of top schools such as Anglo-Chinese School (Primary), St Joseph’s Institution and Catholic Junior College, and 1-2km from Anglo-Chinese School (Junior), Singapore Chinese Girls’ School and CHIJ Primary (Toa Payoh). For families with young children, there are also reputable kindergartens and international schools nearby, making it a desirable location for families with children.The serene and leafy neighbourhood offers a perfect balance between tranquility and convenience, with the Novena MRT Station and Stevens MRT Station located within a 12-minute walk from 45 Gilstead Road. Additionally, the Orchard Road shopping district is just a seven-minute drive away, and the CBD can be reached in 12 minutes via the Central Expressway and Pan Island Expressway. Furthermore, the Novena medical hub, home to renowned hospitals such as Mount Elizabeth Novena Hospital, Royal Healthcare Medical Centre, KK Women’s and Children’s Hospital, and the integrated healthcare hub, Health City Novena, are all within close proximity to the neighbourhood.Besides its convenient location and amenities, the area also offers a unique charm, with many of the bungalows in the neighbourhood retaining their original architecture and design. One such bungalow is the property at 45 Gilstead Road, which has been left unchanged since it was built in the late 1970s. The double-storey bungalow features a built-up area of approximately 3,491 sq ft, with five bedrooms and five bathrooms, sitting on a freehold plot of 7,301 sq ft. According to Zee, the bungalow, with its spacious yard, is ideal for redevelopment into a new, larger bungalow or a pair of semi-detached houses, subject to approval from the authorities. Families can also take advantage of this unique opportunity to own a bungalow in a prestigious residential estate, which is likely to see a price increase in the future. The bungalow is currently on the market for $16.99 million ($2,327 psf).The neighbourhood also offers a variety of entertainment and dining options, with malls such as United Square, Velocity @ Novena Square and Square 2, all within walking distance. Additionally, several eateries are located at Goldhill Plaza and Royal Square. The area offers the perfect blend of old-world charm and modern conveniences, making it a highly sought-after location.In conclusion, Gilstead Road, Gentle Road and Buckley Road are undergoing a rejuvenation, attracting a new generation of affluent residents and revitalizing the neighbourhood. This transformation has also set a new benchmark for luxury and has brought a fresh energy to the area. With its tranquil and idyllic setting, prestigious schools, and convenient amenities, the Gilstead neighbourhood is the ideal location for families seeking a balance between serene living and modern conveniences. This is a unique opportunity to own a property in this exclusive enclave, and interested buyers can contact Brenda Zee or Bibi Wong of ERA Realty Network for more information and viewing arrangements.