This District 10 property is situated within the Chatsworth Park Good Class Bungalow area. It is also within the embassy enclave, and is minutes from the central business district

A good class bungalow (GCB) along Jervois Road has been put up for sale via tender, carrying a guide price of $38.8 million.

This works out to $2,007 per sq ft (psf) based on the property’s total area of 19,333 sq ft. Positioned on elevated ground within a low rise area, the freehold property enjoys a wide frontage of nearly 40 metres.

Marketing agent JLL noted that the District 10 property is situated within the Chatsworth Park GCB area. It is also within the embassy enclave, and is minutes from the central business district and Orchard Road, reported The Business Times.

JLL said demand for plots on higher land has been on the uptrend, citing two recent high profile sales – 50 Cluny Road and 33 Nassim Road, which were sold for $2,980 psf and $2,721 psf, respectively.

Aside from providing privacy, these features also offer room for creativity in designing the redevelopment into a grand mansion with a commanding presence and views of the surrounding, said JLL’s senior director for capital markets Mok Sze Sze.

The tender for the GCB closes on 23 October.

Agnes Ong at PropertyGuru, edited this story. To contact her about this or other stories, email agnes.ong@propertyguru.com.sg