Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Teo Hong Lim, exec director of real estate builder Roxy-Pacific Holdings, released that 71 out of 113 units at Bagnall Haus, an estate condominium, were sold off on Jan 18, the first day of its release. This translates to a sales rate of almost 63%, with a regular transacted price of $2,490 psf.
In addition to the 71 residential units marketed, both strata-titled shop units on the ground level of Bagnall Haus, each measuring 172 sq ft, have also been bought for $688,000 ($ 4,000 psf) each.
The 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 simply one stop from Bedok South MRT Station, that will be part of an integrated transport hub presenting a new bus shift within the upcoming Bayshore precinct. This transportation center will also be part of a mixed-use development integrating retail and residential components.
According to Teo, beyond 90% of the purchasers were Singaporeans. “A lot of them were end-users with assorting budgets,” he said. The take-up rate was good across all unit types, with 2- and three-bedroom units being the most prominent. Nevertheless, there was as well interest for the larger five-bedroom units, he added
Ismail Gafoor, Chief Executive Officer of PropNex, says that of the 71 non commercial units cost Bagnall Haus, around 59% were one- and two-bedroom units that fetched rates just below $2.1 million. He includes that the three-bedroom units were also in high demand, with 18 of 20 units purchased at prices varying from $2.3 million to $2.7 million. The standing four- and five-bedroom unit types cost around $3 million to $3.8 million.
According to Chu, Bagnall Haus benefits from its closeness to developed amenities and reputable schools, providing Temasek Primary School, which is within a 1km radius.
Found around Upper East Coast Road in District 16, Bagnall Haus has 113 household units spread out throughout 3 five-storey blocks on a freehold place 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.
” We believe that the pricing, usually in the pleasant spot of under $3 million, entice many purchasers,” claims Gafoor.
” Homebuyers were predominantly owner-occupiers,” claims Marcus Chu, Chief Executive Officer of ERA Singapore. While some were homeowners of older landed real estates wanting to scale down into more recent and more convenient houses, others were households from the neighbourhood seeking to improve to a freehold property, he includes.
” Pent-up demand, stemming from a 15-year hold-up for a brand-new project in the location, together with its property period, helped drive sales at Bagnall Haus,” says Mark Yip, CEO of Huttons Asia. “It is also rare to locate a property project right next to an MRT station. Buyers recognised the potential perks of the upcoming improvement of the Bayshore precinct.”
The average worked out cost of $2,490 psf was also “engaging for a well-located property project”, indicates Gafoor. “Purchasers viewed value in the project, especially thinking about that some 99-year leasehold brand-new launches in the Outside Central Region (OCR)– like Chuan Park– had actually currently gotten to a standard value of $2,579 psf when it was launched in November 2024.”
