Nassim Road Good Class Bungalow (GCB) Ex-Saudi Royal Embassy to sell for $175 million
The 40 Nassim Road bungalow in the exclusive Singaporean high net-worth enclave has a sprawling floor area of 13,839 sq ft and is comprised of three adjoining plots.
Coined by Singapore’s Ministry of National Development in 1980, Good Class Bungalow or GCB is a term unique to the island state and used to define larger plots of luxury real estate with bungalow in high net-worth enclaves like Singaporean prime districts 10 and 11 which include areas like Sixth Avenue, King Albert Park, Nassim Road and Queen Astrid Park.
According to The Straits Times, the former Royal Embassy of Saudi Arabia, a two-storey conservation good class bungalow (GCB) in Nassim Road is up for sale by tender at a guide price of S$175 million.
Nassim Road Good Class Bungalow (GCB) Ex-Saudi Royal Embassy to sell for S$175 million
There are up to 2,800 GCB plots across 39 clusters in Singapore and each exclusive slice of luxury real estate can house more than one bungalow. This particular Nassim GCB plot for sale is a sprawling piece of land comprised of three adjoining plots, hence giving the winning bidder the option of developing either one massive mansion or three good class bungalows.
40 Nassim Road has a total floor area of 13,839 sq ft. The home of the former Royal Embassy of Saudi Arabia features a grand entrance, living room, dining room, four en-suite bedrooms, terrace swimming pool, an internal garden courtyard with a pond and a servants’ quarters. It also has a garden and garage which can accommodate seven cars.
Most GCBs date back to Singapore’s colonial era but the 40 Nassim Road two-storey GCB up for sale is relatively new. The prime Singapore real estate is owned by one of the Chief Executives of real estate developer Hong Fok, Mr Cheong Pin Chuan. The last significant Good Class Bungalow sold in the area is an 84,543 sq ft property in 33 Nassim Road for a record S$230 million, or a land price of $2,721 psf.
The tender for the Good Class Bungalow on 40 Nassim Road will close on Nov 14 at 3pm.