Summary
During the initial launch of Bagnall Haus, Roxy-Pacific moved 71 out of 113 freehold homes with an overall selling price of $2,490 psf.
Introduction
If you appreciate city conveniences and freehold status, the rapid take-up at Bagnall Haus might intrigue you.
Launch Day and Sales Performance
Teo Hong Lim, the executive chairman of Roxy-Pacific, shared that 71 out of 113 units at Bagnall Haus were snapped up on the first day of launch, representing around 63% sales, with buyers paying a mean price of $2,490 psf.
Over 90% of the buyers were Singaporeans. Many were seeking new residences with various budget levels. The diverse layout options, especially two- and three-bedroom units, attracted most buyers, though interest in larger five-bedroom homes was also present.
Project Location and Unit Variety
Bagnall Haus stands on a 74,280 sq ft freehold site along Upper East Coast Road in District 16, featuring three five-story blocks with 113 homes. These range from a 495 sq ft one-bedroom plus flexi design up to 1,528 sq ft five-bedroom layouts.
Ismail Gafoor, PropNex CEO, notes that smaller one- and two-bedroom units made up about 59% of the total sales, going for below $2.1 million, while three-bedroom units sold in the $2.3–$2.7 million range. Four- and five-bedroom homes fetched between $3 million and $3.8 million.
He highlights that pricing under $3 million resonated with many buyers. This average rate of $2,490 psf appealed to those looking at freehold developments in a location with growth potential, especially when some 99-year OCR projects had surpassed $2,500 psf.
Commercial Units and Buyer Profiles
In addition, two ground-floor commercial spaces of 172 sq ft each fetched $688,000 each, translating to $4,000 psf.
Marcus Chu, CEO of ERA Singapore, observes that many purchasers are owner-occupiers. A number are downsizing from older landed properties, while others are local families seeking a freehold upgrade in the same area.
The Orie Unit Mix
Buyer Demographics and Preferences
Accessibility and Nearby Amenities
The site also benefits from being near reputable schools, such as Temasek Primary School, which sits within 1km, making it a draw for families with young children.
Connectivity will improve once Sungei Bedok MRT Station opens. It is an interchange for Downtown and Thomson-East Coast lines, placing it only one stop from Bedok South MRT’s planned transport hub, complete with a bus interchange and more.
Market Insights and Conclusion
Mark Yip, CEO of Huttons Asia, notes that a gap of 15 years since the previous launch in this locale, combined with freehold appeal, helped drive sales. He also points out the rarity of having a freehold project so near an MRT station.
Buyers appear to value a freehold condo that sits near an MRT station and a growing precinct. This has led to the rapid sales at Bagnall Haus, hinting at continued interest in new units there.
Alternative Conclusion
If you aim to settle in a well-connected district and prefer a freehold property, Bagnall Haus stands out. Its swift sales reflect the blend of local school access, upcoming transit links, and overall value.