The GCB at Joan Road in Caldecott Hill Estate that is on the market for $48 million , a Good Class Bungalow along Joan Road has been put up for sale. The six-bedroom, double-storey bungalow was built in the 1960s as a family home. The garden has fruit trees and a badminton court, which has long been disused.The original owner is a renowned accountant who was also an independent director of several listed companies well into his 90s.
The property sits on a land area of 29,483 sq ft and has received in-principal approval for potential sub-division and redevelopment into two GCBs The owners have received in-principle approval to redevelop the site into two smaller GCBs. Hence, the property would appeal to those seeking bungalow plots of about 30,000 sq ft, with the potential for redevelopment into two bungalows for extended families who want to live next to each other, reckons Sai.
Since last June, eight bungalows have changed hands at Caldecott Hill Estate totalling $184.58 million, based on caveats lodged to date. Three of the eight were transacted in just the first four months of 2022.