There is a resurgence occurring in the esteemed residential area of Gilstead Road, Gentle Road, and Buckley Road, situated just off Newton Road in the prime District 11. According to Brenda Zee, senior executive group division director at ERA Realty Network, the neighborhood used to consist mainly of bungalows and was home to many of Singapore’s elite. However, over the years, a number of these bungalows have been sold to buyers seeking to capitalize on the opportunity to redevelop them into semi-detached homes, strata-titled landed housing projects, or low-rise condominiums. Some noteworthy examples include Buckley Classique, Gilstead Two, and Villas @ Gilstead.
The most significant transaction in the area was the sale of two adjacent freehold bungalows at 32 and 34 Gilstead Road, which had a combined site area of 43,458 sq ft and were fetching $70 million ($1,611 psf). This deal took place in December 2021, with Kheng Leong Co as the buyer, who has plans to redevelop the site into a luxury condo development called 32 Gilstead. The units at 32 Gilstead have an average size of 4,200 sq ft and come with four en suite bedrooms. Since its launch in April, five units have been sold at prices ranging from $14.4 million to $14.7 million or $3,431 psf to $3,505 psf. This project has set a new standard for luxury and prices in the neighborhood.
Bibi Wong, marketing director of ERA Realty Network, who grew up in the area, says that the entire neighborhood is experiencing a transformation with a younger, affluent, and more cosmopolitan generation moving into these high-end homes. Gilstead Road offers a peaceful and verdant environment, with prestigious schools such as Anglo-Chinese School (Primary), St Joseph’s Institution, and Catholic Junior College all within a 1km radius. In addition, the Anglo-Chinese School (Junior), Singapore Chinese Girls’ School, and CHIJ Primary (Toa Payoh) are within a 1-2km radius. Families with young children will also appreciate the convenience of having St James Church Kindergarten (Gilstead) and EtonHouse Pre-School Newton in close proximity. For international schools, there are options such as EtonHouse International School Orchard and Chatsworth International School nearby.
The demand for investing in a condo in Singapore has gained significant traction among both domestic and international investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. In the real estate market of Singapore, there are endless possibilities, but condominiums stand out for their convenience, facilities, and potential for lucrative returns. With the launch of new condo projects, let’s delve into the advantages, considerations, and steps to take when making a condo investment in Singapore.
One of the few bungalows in the area that has remained unchanged since its construction in the late 1970s is the property at 45 Gilstead Road. The two-story house has a built-up area of approximately 3,491 sq ft and boasts five bedrooms and five bathrooms. It sits on a freehold plot of 7,301 sq ft and offers buyers the opportunity to redevelop the property into a new, larger bungalow or a pair of semi-detached houses, subject to approval from the authorities. Zee points out that this could also be an excellent opportunity for families seeking a bungalow in a prime residential estate with all amenities within easy reach. With the ongoing gentrification of the area, property prices are expected to appreciate in the future. Wong, who is co-marketing the property with Zee, mentions that the family who currently owns the bungalow has been approached by developers in the past, but they were not ready to sell at the time.
45 Gilstead Road is now up for sale at $16.99 million ($2,327 psf). The property presents an enticing opportunity for buyers seeking a redevelopment opportunity. The location of Gilstead Road offers convenient access to three MRT stations, with Newton MRT (interchange for the North-South and Downtown Lines) and Stevens MRT (interchange for the Downtown Line and Thomson-East Coast Line) just a 12-minute walk away. Meanwhile, the Novena MRT Station (on the North-South Line) is just a 14-minute walk from the property. By car, Orchard Road, the shopping hub of Singapore, is only a seven-minute drive away, while the Central Business District (CBD) can be reached within 12 minutes via the Central Expressway and Pan Island Expressway.
In addition, the medical hub at Novena is also within close proximity to Gilstead Road. Mount Elizabeth Novena Hospital, Royal Healthcare Medical Centre, and KK Women’s and Children’s Hospital are all just a short distance away. The integrated healthcare hub, Health City Novena, is also located here, housing facilities such as Tan Tock Seng Hospital, Dover Park Hospice, Ren Ci Hospital, the National Skin Centre, the National Neuroscience Institute, and the Lee Kong Chian School of Medicine.
For those seeking retail therapy, there are several malls in the vicinity, including United Square, Velocity @ Novena Square, and Square 2, which are connected underground to the Novena MRT Station. There are also dining options available at Goldhill Plaza and Royal Square.
45 Gilstead Road presents a unique opportunity for buyers, offering a blend of old-world charm and contemporary conveniences. Don’t miss your chance to create your own story in this exceptional neighborhood. For more details and to arrange a viewing, please contact Brenda Zee, Senior Executive Group Division Director at ERA Realty Network (94509938) or Bibi Wong, Marketing Director at ERA Realty Network (96686574).