Roxy-Pacific sells nearly 63% of Bagnall Haus at an average price of $2,490 psf
Teo Hong Lim, executive director of property developer Roxy-Pacific Holdings, disclosed that 71 out of 113 units at Bagnall Haus, a freehold condominium, were sold on Jan 18, the very first day of its launch. This equates to a sales rate of almost 63%, with a regular negotiated price of $2,490 psf.
Located throughout Upper East Coast Road in District 16, Bagnall Haus has 113 non commercial units spread across 3 five-storey blocks on a property site 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.
Along with the 71 residential units sold, both strata-titled shop units on the ground floor of Bagnall Haus, each measuring 172 sq ft, have also been snapped up for $688,000 ($ 4,000 psf) each.
The development is also inside walking distance of the upcoming Sungei Bedok MRT Terminal, a shift for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will belong to an incorporated transportation hub presenting a new bus interchange within the upcoming Bayshore precinct. This transportation center will additionally become part of a mixed-use growth integrating retail and residential factors.
” Pent-up demand, stemming from a 15-year wait for a new venture in the area, in addition to its property period, helped drive sales at Bagnall Haus,” claims Mark Yip, CEO of Huttons Asia. “It is also rare to find an estate venture right alongside an MRT stop. Buyers identified the prospective benefits of the upcoming improvement of the Bayshore precinct.”
Ismail Gafoor, CEO of PropNex, says that of the 71 residential units cost Bagnall Haus, approximately 59% were one- and two-bedroom units that brought costs simply below $2.1 million. He includes that the three-bedroom units were also in high demand, with 18 of 20 units bought at rates ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom unit types cost around $3 million to $3.8 million.
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” We believe that the pricing, typically in the pleasant location of under $3 million, appeals to the majority of buyers,” says Gafoor.
According to Teo, over 90% of the buyers were Singaporeans. “A lot of them were actually end-users with varying spending plans,” he said. The take-up rate was sturdy across all unit kinds, with 2- and three-bedroom units being one of the most preferred. Nevertheless, there was even need for the bigger five-bedroom units, he added
” Buyers were mostly owner-occupiers,” claims Marcus Chu, CEO of ERA Singapore. While some were property owners of older landed real estates seeking to scale down right into more recent and more workable apartments, others were families from the area seeking to improve to a freehold property, he includes.
According to Chu, Bagnall Haus benefits from its proximity to established amenities and reliable schools, including Temasek Primary School, which is throughout a 1km distance.
The regular transacted price of $2,490 psf was also “convincing for a well-located estate project”, notes Gafoor. “Purchasers viewed value in the venture, mainly thinking about that some 99-year leasehold new launches in the Outside Central Region (OCR)– such as Chuan Park– had actually already hit an average value of $2,579 psf when it was released in November 2024.”