Bagnall Haus, a highly anticipated freehold condominium development, had an impressive sales launch on Jan 18, with 71 out of 113 units sold within the first day. This translates to an outstanding sales rate of nearly 63%. The average transacted price for these units was $2,490 psf, with majority of the buyers being Singaporeans.
According to Teo Hong Lim, executive chairman of Roxy-Pacific Holdings, the developer of Bagnall Haus, the strong sales were mainly driven by end-users with varying budgets. All unit types were in high demand, with the two- and three-bedroom units being the most popular. Surprisingly, there was also interest in the larger five-bedroom units, showcasing the diversity of buyers’ preferences.
Bagnall Haus is located in the prime location of Upper East Coast Road in District 16. Spread across three five-storey blocks, the development boasts a total of 113 residential units, all of which are freehold. The units range from one-bedroom plus flexi (495 sq ft) to five-bedroom (1,528 sq ft).
The average transacted price of $2,490 psf was deemed compelling for a well-located freehold development, according to Ismail Gafoor, CEO of PropNex. He adds that the majority of the units sold were one- and two-bedroom units, with prices just below $2.1 million. The three-bedroom units were also highly sought after, with only two remaining out of the 20 units available. These were sold at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for around $3 million to $3.8 million.
Gafoor believes that the pricing, which falls under the sweet spot of under $3 million, appealed to most buyers. He also notes that the average transacted price was comparatively lower than other 99-year leasehold new launches in the Outside Central Region (OCR), such as Chuan Park, which saw an average price of $2,579 psf upon its launch in November 2024.
Apart from residential units, the two strata-titled shop units on the ground floor of Bagnall Haus, measuring 172 sq ft each, were also snapped up for $688,000 ($4,000 psf) each.
According to Marcus Chu, CEO of ERA Singapore, the majority of buyers were owner-occupiers, including those looking to downsize from older landed properties and families in the neighbourhood seeking an upgrade to a freehold property.
One of the key attractions of Bagnall Haus is its proximity to established amenities and reputable schools, such as Temasek Primary School within a 1km radius. It is also within walking distance to the upcoming Sungei Bedok MRT Station, which will serve as an interchange for the Downtown and Thomson-East Coast lines. Only one stop away is Bedok South MRT Station, which is part of an integrated transport hub under the upcoming Bayshore precinct, featuring a new bus interchange and a mixed-use development with retail and residential components.
“The pent-up demand for a new project in the area, coupled with the rare freehold tenure, contributed to the strong sales at Bagnall Haus,” says Mark Yip, CEO of Huttons Asia. “The development’s strategic location right next to an MRT station and its proximity to the upcoming transformation of the Bayshore precinct were major factors that attracted buyers.”
When it comes to investing in real estate, the location is a crucial factor to consider, and this is particularly true in Singapore.
Potential buyers can look forward to more exciting developments in the Bayshore area, with Bagnall Haus paving the way for a thriving community and a coveted freehold property.