Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Situated throughout Upper East Coast Road in District 16, Bagnall Haus has 113 household units spread out throughout three five-storey blocks on a freehold location 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.
Teo Hong Lim, executive director of property builder Roxy-Pacific Holdings, released that 71 out of 113 units at Bagnall Haus, a property residence, were sold on Jan 18, the first day of its launch. This translates to a sales rate of nearly 63%, with a common negotiated rate of $2,490 psf.
According to Teo, more than 90% of the buyers were Singaporeans. “The majority of them were end-users with varying spending plans,” he stated. The take-up figure was strong across all unit types, with 2- and three-bedroom units being the best prominent. Nonetheless, there was as well need for the bigger five-bedroom units, he added
” Homebuyers were mainly owner-occupiers,” claims Marcus Chu, Chief Executive Officer of ERA Singapore. Whilst some were property owners of older landed real estates looking to scale down right into more recent and more manageable apartments, others were households from the area seeking to upgrade to a freehold property, he adds.
Ismail Gafoor, CEO of PropNex, says that of the 71 residential units cost Bagnall Haus, approximately 59% were one- and two-bedroom units that brought rates simply listed below $2.1 million. He adds that the three-bedroom units were also in high sale, with 18 of 20 units got at costs ranging from $2.3 million to $2.7 million. The standing four- and five-bedroom unit types cost around $3 million to $3.8 million.
The property development is in addition inside walking range of the upcoming Sungei Bedok MRT Station, a shift for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will belong to an integrated transportation hub providing a new bus shift within the upcoming Bayshore precinct. This transportation hub will likewise belong to a mixed-use growth integrating retail and residential components.
” We believe that the pricing, generally in the wonderful location of under $3 million, entice the majority of purchasers,” claims Gafoor.
In addition to the 71 residential units offered, both strata-titled store units on the ground floor of Bagnall Haus, each measuring 172 sq ft, have also been bought for $688,000 ($ 4,000 psf) each.
The regular worked out cost of $2,490 psf was likewise “convincing for a well-located property project”, notes Gafoor. “Customers observed value in the venture, especially considering that some 99-year leasehold new launches in the Outside Central Region (OCR)– including Chuan Park– had actually currently gotten to a standard price of $2,579 psf when it was released in November 2024.”
” Pent-up demand, originating from a 15-year delay for a brand-new project in the area, together with its freehold tenure, helped drive sales at Bagnall Haus,” claims Mark Yip, Chief Executive Officer of Huttons Asia. “It is also unusual to find a property venture right beside an MRT station. Buyers identified the prospective perks of the upcoming change of the Bayshore precinct.”
According to Chu, Bagnall Haus benefits from its closeness to developed services and trusted colleges, providing Temasek Primary School, that is throughout a 1km distance.
