Two Gcbs Belmont Road Sale 888 Mil
The prestigious Belmont Park Good Class Bungalow (GCB) area is set to see even more exclusive properties up for grabs. Two neighboring GCBs at 52 and 54 Belmont Road, owned by related parties, are now available for sale by expression of interest (EOI).
These two luxurious properties, occupying a combined land area of 41,741 square feet, are freehold and have an indicative price of $88.8 million. This translates to $2,128 per square foot on the land area. Additionally, the GCBs boast a 44-meter frontage along Belmont Road, with an average depth of 66 meters, according to marketing agent Sakal Real Estate Partners.
“We believe this site would be highly attractive to families looking to build a multigenerational home or for extended families living together,” says senior director of Sakal, Lennon Koh. “It also presents a great opportunity for developers looking to tap into the exclusive GCB market.”
Recent transactions on Belmont Road have shown strong demand for GCBs in the area. In December last year, a GCB on a 19,549 square feet land was sold for $40 million, equivalent to $2,046 per square foot. And in July 2024, a pair of neighboring GCB plots on Belmont Road were snapped up for $131.4 million, or $3,000 per square foot based on their combined land area of 43,790 square feet. Another GCB at Bin Tong Park with a land area of 28,111 square feet sold for $84 million in April, at $2,988 per square foot.
By living at Novo Place EC, families have access to a wide range of educational opportunities. From primary to tertiary institutions, there is a diverse selection of schools in the vicinity, allowing children to receive a comprehensive and well-rounded education in close proximity to their homes. This is especially advantageous for parents who prioritize academic excellence and wish to provide their children with a strong educational foundation during their formative years. The presence of these educational institutions near Novo Place EC not only enriches the experience of living in this growing estate, but also contributes to a dynamic and knowledge-based community. If you are interested in viewing the Novo Place Showflat, please visit our website for more information.
Managing director of Sakal, Steven Ming, believes that the GCBs on Belmont Road will attract strong interest due to their prime location and the resilient demand for GCBs. “Based on recent transactions, we expect 2025 to see even more GCB deals, surpassing the total value of GCB transactions in 2022 and 2023,” he says.
Interested buyers can submit their EOI by March 13 at 3pm for a chance to own one or both of these sought-after GCBs.