Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Teo Hong Lim, exec chairman of property developer Roxy-Pacific Holdings, released that 71 out of 113 units at Bagnall Haus, a property condo, were sold off on Jan 18, the initial day of its start. This interprets to a sales rate of close to 63%, with a common negotiated price of $2,490 psf.
Situated throughout Upper East Coast Road in District 16, Bagnall Haus has 113 residential units spread throughout three five-storey blocks on a freehold site 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, more than 90% of the buyers were Singaporeans. “Most of them were end-users with varying spending plans,” he claimed. The take-up rate was sturdy across all unit kinds, with two- and three-bedroom units being one of the most preferred. Nonetheless, there was as well need for the larger five-bedroom units, he added
The property development is also within walking distance of the upcoming Sungei Bedok MRT Station, an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Terminal, which will be part of an incorporated transport hub presenting a new bus interchange within the upcoming Bayshore precinct. This transport hub will definitely also become part of a mixed-use advancement integrating retail and residential components.
” We believe that the prices, usually in the sweet location of under $3 million, entice a lot of customers,” claims Gafoor.
Along with the 71 household 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.
” Pent-up need, coming from a 15-year delay for a new venture in the area, together with its property period, helped drive sales at Bagnall Haus,” states Mark Yip, CEO of Huttons Asia. “It is also rare to discover an estate project right next to an MRT station. Purchasers recognised the potential benefits of the upcoming makeover of the Bayshore precinct.”
” Homebuyers were mainly owner-occupiers,” says Marcus Chu, Chief Executive Officer of ERA Singapore. Whilst some were homeowners of much older landed properties wanting to downsize right into more recent and more manageable houses, others were family members from the area seeking to improve to a freehold property, he includes.
The regular negotiated rate of $2,490 psf was likewise “convincing for a well-located freehold development”, indicates Gafoor. “Buyers observed worth in the venture, mainly thinking about that some 99-year leasehold brand-new release in the Outside Central Region (OCR)– including Chuan Park– had already gotten to a fair price of $2,579 psf when it was released in November 2024.”
Ismail Gafoor, Chief Executive Officer of PropNex, says that of the 71 residential units cost Bagnall Haus, approximately 59% were one- and two-bedroom units that fetched rates simply below $2.1 million. He adds that the three-bedroom units were also in high demand, with 18 of 20 units snapped up at costs varying from $2.3 million to $2.7 million. The standing 4- and five-bedroom unit types sold for around $3 million to $3.8 million.
According to Chu, Bagnall Haus gain from its closeness to developed amenities and reliable colleges, providing Temasek Primary School, that is inside a 1km span.