Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
The normal negotiated rate of $2,490 psf was also “compelling for a well-located property development”, indicates Gafoor. “Purchasers observed value in the project, especially considering that some 99-year leasehold new release in the Outside Central Region (OCR)– such as Chuan Park– had already hit a standard value of $2,579 psf when it was introduced in November 2024.”
According to Chu, Bagnall Haus gain from its closeness to developed facilities and credible schools, including Temasek Primary School, which is inside a 1km span.
In addition to the 71 residential units offered, both strata-titled store units on the ground floor of Bagnall Haus, each estimating 172 sq ft, have also been purchased for $688,000 ($ 4,000 psf) each.
Located along Upper East Coast Roadway in District 16, Bagnall Haus has 113 household units spread across 3 five-storey blocks on an estate 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.
” We believe that the prices, generally in the sweet location of under $3 million, appeals to most buyers,” claims Gafoor.
Ismail Gafoor, CEO of PropNex, claims that of the 71 non commercial units sold at Bagnall Haus, about 59% were one- and two-bedroom units that fetched rates just listed below $2.1 million. He adds that the three-bedroom units were also in high demand, with 18 of 20 units bought at rates varying from $2.3 million to $2.7 million. The remaining 4- and five-bedroom unit kinds cost around $3 million to $3.8 million.
According to Teo, beyond 90% of the purchasers were Singaporeans. “A lot of them were end-users with varying budgets,” he stated. The take-up rate was good across all unit kinds, with two- and three-bedroom units being one of the most prominent. Nevertheless, there was as well demand for the bigger five-bedroom units, he included
” Pent-up demand, originating from a 15-year wait for a new project in the area, in addition to its freehold period, assisted drive sales at Bagnall Haus,” says Mark Yip, CEO of Huttons Asia. “It is also rare to find an estate venture right alongside an MRT station. Buyers identified the potential perks of the upcoming improvement of the Bayshore precinct.”
Teo Hong Lim, executive director of property developer Roxy-Pacific Holdings, announced that 71 out of 113 units at Bagnall Haus, a freehold condominium, were sold off on Jan 18, the initial day of its release. This equates to a sales rate of nearly 63%, with a regular negotiated cost of $2,490 psf.
” Property buyers were predominantly owner-occupiers,” claims Marcus Chu, CEO of ERA Singapore. Whilst some were property owners of much older landed real estates looking to downsize right into newer and more convenient apartments, others were family members from the area seeking to upgrade to a freehold property, he adds.
The property development is also inside walking distance of the upcoming Sungei Bedok MRT Terminal, a shift for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will belong to an integrated transport center presenting a brand-new bus shift within the upcoming Bayshore precinct. This transportation hub will additionally belong to a mixed-use advancement incorporating retail and residential parts.
