Teo Hong Lim, executive chairman of Roxy-Pacific Holdings, announced that out of the 113 units available at Bagnall Haus, a freehold condominium, 71 were successfully sold on the first day of its launch on January 18. This translates to a sales rate of almost 63%, with an average transacted price of $2,490 per square foot.
According to Teo, the majority of buyers were Singaporeans, representing over 90% of the total sales. “Most of them were end-users with varying budgets,” he said. The take-up rate was strong across all unit types, with two- and three-bedroom units being the most popular. However, there was also notable interest in the larger five-bedroom units.
Situated along Upper East Coast Road in District 16, Bagnall Haus offers 113 residential units split among three five-storey blocks on a freehold site of 74,280 square feet. The unit mix includes one-bedroom plus flexi units of 495 square feet and five-bedroom units of 1,528 square feet.
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Ismail Gafoor, CEO of PropNex, reports that out of the 71 residential units sold at Bagnall Haus, approximately 59% were one- and two-bedroom units which commanded prices just under $2.1 million. The three-bedroom units were also in high demand, with 18 out of 20 units snatched up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom unit types sold for approximately $3 million to $3.8 million.
“We believe that the pricing, which is generally below $3 million, is appealing to most buyers,” says Gafoor.
The average transacted price of $2,490 per square foot was also deemed “compelling for a well-located freehold development”, adds Gafoor. “Buyers saw value in the project, especially when considering that some 99-year leasehold new launches in the Outside Central Region (OCR) – such as Chuan Park – achieved an average price of $2,579 per square foot when launched in November 2024.”
Additionally, both shop units on the ground floor of Bagnall Haus, each measuring 172 square feet, were sold at $688,000 ($4,000 per square foot).
“Homebuyers were primarily owner-occupiers,” says Marcus Chu, CEO of ERA Singapore. Some were homeowners of older landed properties seeking a downsized, newer and more manageable apartment, while others were families from the neighborhood looking to upgrade to a freehold property, according to Chu.
Bagnall Haus benefits from its proximity to established amenities and reputable schools, including Temasek Primary School, which is within a one-kilometer radius, adds Chu.
As an added bonus, the development is also walking distance to the upcoming Sungei Bedok MRT Station, where the Downtown and Thomson-East Coast lines will interchange. Additionally, the station is just one stop from the Bedok South MRT Station, which will be part of an integrated transport hub featuring a new bus interchange within the upcoming Bayshore precinct. This transport hub will also include a mixed-use development incorporating retail and residential components.
“Pent-up demand, stemming from a 15-year wait for a new project in the area, along with its freehold tenure, helped drive sales at Bagnall Haus,” explains Mark Yip, CEO of Huttons Asia. “It is also rare to find a freehold project right next to an MRT station. Buyers recognized the potential benefits of the upcoming transformation of the Bayshore precinct.”
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