Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Teo Hong Lim, exec director of property builder Roxy-Pacific Holdings, disclosed that 71 out of 113 units at Bagnall Haus, an estate condominium, were sold off on Jan 18, the initial day of its launch. This equates to a sales rate of almost 63%, with a common transacted rate of $2,490 psf.
The average worked out rate of $2,490 psf was likewise “engaging for a well-located property development”, indicates Gafoor. “Purchasers observed value in the venture, especially thinking about that some 99-year leasehold new release in the Outside Central Region (OCR)– including Chuan Park– had already reached an average price of $2,579 psf when it was released in November 2024.”
Situated around Upper East Coast Road in District 16, Bagnall Haus has 113 household units spread across 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.
According to Teo, over 90% of the buyers were Singaporeans. “A lot of them were actually end-users with varying budgets,” he claimed. The take-up figure was sturdy throughout all unit kinds, with 2- and three-bedroom units being the best popular. Nonetheless, there was as well need for the larger five-bedroom units, he added
” We believe that the pricing, normally in the sweet place of under $3 million, entice most buyers,” claims Gafoor.
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Ismail Gafoor, CEO of PropNex, states that of the 71 non commercial units sold at Bagnall Haus, about 59% were one- and two-bedroom units that fetched prices just below $2.1 million. He adds that the three-bedroom units were also in high claim, with 18 of 20 units snapped up at prices 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.
” Property buyers were mainly owner-occupiers,” says Marcus Chu, Chief Executive Officer of ERA Singapore. Whilst some were homeowners of much older landed real estates wanting to downsize right into newer and more workable homes, others were families from the neighborhood seeking to enhancement to a freehold property, he includes.
According to Chu, Bagnall Haus gain from its distance to established features and credible institutions, providing Temasek Primary School, which is within a 1km span.
” Pent-up demand, stemming from a 15-year delay for a new project in the location, together with its freehold tenure, helped drive sales at Bagnall Haus,” claims Mark Yip, Chief Executive Officer of Huttons Asia. “It is also uncommon to locate an estate venture right alongside an MRT station. Purchasers recognised the potential perks of the upcoming transformation of the Bayshore precinct.”
Along with the 71 residential units offered, both strata-titled store units on the ground level of Bagnall Haus, each measuring 172 sq ft, have also been snapped up for $688,000 ($ 4,000 psf) each.
The development is in addition within walking range of the upcoming Sungei Bedok MRT Station, a shift for the Downtown and Thomson-East Coast lines. It is simply one stop from Bedok South MRT Station, which will belong to an integrated transport hub presenting a new bus shift within the upcoming Bayshore precinct. This transportation hub will definitely also be part of a mixed-use growth integrating retail and residential factors.