Teo Hong Lim, executive chairman of property developer Roxy-Pacific Holdings, announced that 71 out of 113 units at Bagnall Haus, a freehold condominium, were sold on Jan 18, the first day of its launch. This translates to a sales rate of nearly 63%, with an average transacted price of $2,490 psf.
According to Teo, over 90% of the buyers were Singaporeans. “Most of them were end-users with varying budgets,” he said. The take-up rate was strong across all unit types, with two- and three-bedroom units being the most popular. However, there was also demand for the larger five-bedroom units, he added
Located along Upper East Coast Road in District 16, Bagnall Haus has 113 residential units spread across three five-storey blocks on a freehold 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.
Ismail Gafoor, CEO of PropNex, says that of the 71 residential units sold at Bagnall Haus, about 59% were one- and two-bedroom units that fetched prices just below $2.1 million. He adds that the three-bedroom units were also in high demand, with 18 of 20 units snapped up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom unit types sold for around $3 million to $3.8 million.
“We believe that the pricing, generally in the sweet spot of under $3 million, appeals to most buyers,” says Gafoor.
The average transacted price of $2,490 psf was also “compelling for a well-located freehold development”, notes Gafoor. “Buyers saw value in the project, especially considering that some 99-year leasehold new launches in the Outside Central Region (OCR) — such as Chuan Park — had already reached an average price of $2,579 psf when it was launched in November 2024.”
About 59% of the 71 units sold were one- and two-bedroom units that fetched prices just below $2.1 million (Photo: Albert Chua/EdgeProp Singapore)
In addition to 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.
“Homebuyers were predominantly owner-occupiers,” says Marcus Chu, CEO of ERA Singapore. While some were homeowners of older landed properties looking to downsize into newer and more manageable apartments, others were families from the neighbourhood seeking to upgrade to a freehold property, he adds.
According to Chu, Bagnall Haus benefits from its proximity to established amenities and reputable schools, including Temasek Primary School, which is within a 1km radius.
The development is also within walking distance of the upcoming Sungei Bedok MRT Station, an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will be part of an integrated transport hub featuring a new bus interchange within the upcoming Bayshore precinct. This transport hub will also be part of a mixed-use development incorporating retail and residential components.
“Pent-up demand, stemming from a 15-year wait for a new project in the area, along with its freehold tenure, helped drive sales at Bagnall Haus,” says Mark Yip, CEO of Huttons Asia. “It is also rare to find a freehold project right next to an MRT station. Buyers recognised the potential benefits of the upcoming transformation of the Bayshore precinct.”
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