The tranquil and prestigious housing enclave of Gilstead Road, Gentle Road, and Buckley Road, situated just off Newton Road in prime District 11, is undergoing an exciting renewal.
According to Brenda Zee, Senior Executive Group Division Director at ERA Realty Network, the area used to be known for its bungalows, and was home to many of Singapore’s elite. However, over time, many of these bungalows were sold to developers who saw an opportunity to transform them into semi-detached houses, strata-titled landed housing projects, or low-rise condominiums. Some notable examples include Buckley Classique, Gilstead Two, and Villas @ Gilstead.
The most significant sale in recent years was a transaction involving two adjacent freehold bungalows at 32 and 34 Gilstead Road, with a combined site area of 43,458 sq ft, which was sold for $70 million ($1,611 psf) in December 2021. Purchased by Kheng Leong Co, the site is now being redeveloped into a new luxury 14-unit condo named 32 Gilstead.
Featuring spacious gardens and driveways, the 1970s bungalow at 32 Gilstead has been retained and renovated to serve as the development’s sales gallery. Each unit in the condo will average 4,200 sq ft, and boast four en-suite bedrooms. Since its launch in April, five units have already been sold, ranging from $14.4 million to $14.7 million, or $3,431 psf to $3,505 psf, setting a new benchmark in terms of luxury and prices for the area.
“The entire neighborhood is undergoing gentrification, with a new generation of younger, affluent, and cosmopolitan residents moving into these upscale homes,” says Bibi Wong, Marketing Director of ERA Realty Network, who grew up in the area and is familiar with the changes taking place.
Situated just 1km from top schools such as Anglo-Chinese School (Primary), St Joseph’s Institution, and Catholic Junior College, the area is also within 1-2km from other renowned schools like Anglo-Chinese School (Junior), Singapore Chinese Girls’ School, and CHIJ Primary (Toa Payoh). For families with young children, St James Church Kindergarten (Gilstead) and EtonHouse Pre-School Newton are just a short drive away, while international schools like EtonHouse International School Orchard and Chatsworth International School are also in close proximity.
One of the few bungalows remaining unchanged since its construction in the late 1970s is located at 45 Gilstead Road. With a built-up area of 3,491 sq ft, the double-storey house with five bedrooms and five bathrooms sits on a freehold plot of 7,301 sq ft.
According to Zee, this property offers an excellent redevelopment opportunity for those looking to build a larger bungalow or a pair of semi-detached houses, subject to approval from the authorities. “It is also an excellent opportunity for families seeking a bungalow in a prime residential estate, with the convenience of amenities nearby. With gentrification, the value of the property is expected to appreciate in the future,” she adds.
“Over the years, the family has been approached by developers to sell the house, but they were not ready then,” says Wong, who is jointly marketing the property with Zee. Currently, the bungalow at 45 Gilstead Road is available for sale at $16.99 million ($2,327 psf).
Residents of Gilstead Road enjoy easy 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, while the Novena MRT Station (on the North-South Line) is a 14-minute walk away. By car, Orchard Road shopping strip is only a seven-minute drive, while the CBD can be reached in just 12 minutes via the Central Expressway and Pan Island Expressway.
Moreover, the neighborhood is also close to the Novena medical hub, with Mount Elizabeth Novena Hospital, Royal Healthcare Medical Centre, and KK Women’s and Children’s Hospital in close proximity. At the heart of this medical hub is the integrated healthcare facility, Health City Novena, which comprises 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.
Residents can also take advantage of the numerous retail and dining options in the area, with malls like United Square, Velocity @ Novena Square, and Square 2, linked underground to the Novena MRT Station. Goldhill Plaza and Royal Square also have a variety of eateries for residents to enjoy.
With the unique blend of old-world charm and modern amenities, now is the perfect time to invest in this exceptional estate on Gilstead Road. Don’t miss your chance to create your own story in this prestigious and tranquil neighborhood.
For more details and to schedule a viewing, please contact:
Brenda Zee
Senior Executive Group Division Director, ERA Realty Network
Rewritten:
One of the advantages of investing in a condominium is the potential to leverage its value for further investments. In fact, numerous investors utilize their condos as collateral to secure additional financing for new investments. This allows them to expand their real estate portfolio and potentially increase their returns. However, it is important to note that this strategy also carries risks. It is essential to have a solid financial plan in place and to carefully consider the potential impact of market fluctuations. Singapore Projects are also a valuable addition to any real estate portfolio.
94509938
Bibi Wong
Marketing Director, ERA Realty Network
96686574