Recently launched projects
Teo Hong Lim, executive chairman of property developer Roxy-Pacific Holdings, has announced that the launch of Bagnall Haus, a freehold condominium, on Jan 18 was a huge success with sales of 71 out of 113 units. That translates to a remarkable sales rate of almost 63%, with units fetching an average price of $2,490 psf.
According to Teo, the majority of buyers were Singaporeans, comprising over 90% of the total. He added that most of these buyers were end-users with varying budgets. The strong take-up rate was evident across all unit types, with the two- and three-bedroom units proving to be the most popular. However, there was also significant demand for the larger five-bedroom units.
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Situated along Upper East Coast Road in District 16, Bagnall Haus consists of 113 residential units spread across three five-storey blocks on a freehold site covering an impressive 74,280 sq ft. The units are a mix of 495 sq ft one-bedroom plus flexi units and 1,528 sq ft five-bedroom units.
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Ismail Gafoor, CEO of PropNex, reports that out of the 71 residential units sold at Bagnall Haus, about 59% were one- and two-bedroom units. The average selling price for these units was just under $2.1 million. Gafoor adds that the three-bedroom units were also in high demand, with 18 out of 20 snapped up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for approximately $3 million to $3.8 million.
“We believe that the pricing, which is generally below $3 million, is very attractive to most buyers,” says Gafoor.
The average transacted price of $2,490 psf is also considered very competitive for a well-located freehold development, notes Gafoor. “Buyers saw the value in this project, especially when some 99-year leasehold new launches in the Outside Central Region (OCR) such as Chuan Park were launched in November 2024 with an average price of $2,579 psf.”
In addition to the 71 residential units sold, both 172 sq ft strata-titled shop units on the ground floor of Bagnall Haus have also been snapped up at $688,000 each ($4,000 psf).
“Most of the buyers were owner-occupiers,” says Marcus Chu, CEO of ERA Singapore. He explains that although some were homeowners of older landed properties looking to downsize into newer and more manageable apartments, others were families from the neighbourhood seeking to upgrade to a freehold property.
Chu notes that Bagnall Haus benefits from its proximity to established amenities and well-regarded schools, including Temasek Primary School, which is within a 1km radius.
Read also: Bagnall Haus: a rare freehold project steps from Sungei Bedok MRT, one stop from Bayshore’s transformation
The development is 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 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 be part of a mixed-use development incorporating retail and residential components.
“The pent-up demand, stemming from a 15-year wait for a new project in the area, along with its freehold tenure, have helped drive sales at Bagnall Haus,” says 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.”