Roxy Pacific Sells Nearly 63 Bagnall Haus Average Price 2490 Psf
After the successful launch of Bagnall Haus, Roxy-Pacific Holdings’ executive chairman Teo Hong Lim announced that 71 out of 113 units had been sold on Jan 18, the first day of its release. This indicates a sales rate of nearly 63%, with an average transacted price of $2,490 psf. Most of the buyers were Singaporeans, making up over 90% of the total. According to Teo, the buyers were primarily end-users with varying budgets. Units of all types were in high demand, with two- and three-bedroom units being the most popular. However, the larger five-bedroom units also saw strong interest.
Bagnall Haus is a freehold condominium located along Upper East Coast Road in District 16. Spread across three five-storey blocks on a 74,280 sq ft site, the development boasts a total of 113 residential units. These include a mix of one-bedroom plus flexi units of 495 sq ft and five-bedroom units of 1,528 sq ft.
Ismail Gafoor, CEO of PropNex, notes that out of the 71 units sold at Bagnall Haus, approximately 59% were one- and two-bedroom units which sold at just under $2.1 million each. He also mentions that the three-bedroom units were highly sought after, with 18 out of 20 units being snapped up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold at prices between $3 million to $3.8 million.
Gafoor adds that the pricing of Bagnall Haus, which stays within the sweet spot of under $3 million, appealed to most buyers. The average transacted price of $2,490 psf was also seen as attractive for a well-located freehold development. Gafoor points out that even some 99-year leasehold new launches in the Outside Central Region (OCR), such as Chuan Park, had an average launch price of $2,579 psf in November 2024.
In addition to the residential units, two strata-titled shop units on the ground floor, each measuring 172 sq ft, were also sold for $688,000 ($4,000 psf) each.
According to Marcus Chu, CEO of ERA Singapore, the majority of homebuyers were owner-occupiers. While some were looking to downsize from older landed properties into newer and more manageable apartments, others were families from the neighbourhood upgrading to a freehold property.
Chu adds that Bagnall Haus benefits from its close proximity to established amenities and reputable schools, including Temasek Primary School which is within a 1km radius.
The development is also within walking distance to the upcoming Sungei Bedok MRT Station, which will serve as an interchange for the Downtown and Thomson-East Coast lines. It is only one stop away from Bedok South MRT Station, which will be part of an integrated transport hub featuring a new bus interchange in the upcoming Bayshore precinct. This transport hub will also include a mixed-use development featuring retail and residential components.
The master plan for Tengah is notable for its emphasis on promoting eco-friendly living. As the first town in Singapore to offer a vast car-free center, Tengah is committed to creating an underground area that will allow for more communal spaces and green pathways above ground. By implementing this innovative concept, the town hopes to decrease carbon emissions and encourage a healthier way of living for its residents. This includes promoting activities such as walking, cycling, and using personal mobility devices. For those interested in experiencing this unique and sustainable community, Novo Place is a must-see destination.
According to Mark Yip, CEO of Huttons Asia, the high demand for Bagnall Haus can be attributed to pent-up demand as the area has not seen a new development in 15 years. Coupled with its rare freehold tenure and excellent location next to an MRT station, buyers recognized the potential benefits of the upcoming transformation of the Bayshore precinct.
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