999-year leasehold GCB site in Chestnut Drive on sale for $22m

PropNex Realty said the site will be sold via expression of interest.

The 999-year leasehold Good Class Bungalow (GCB) site at 67 Chestnut Drive will be up for sale on 3 July 2023.

Its indicative price works around $1,515 psf based on a land area of approximately 14,526 sq ft. 

It was initially offered for sale as a new GCB under construction in February 2023. In a statement released on 2 February 2023, PropNex said the property – to be built as a new two-storey detached house with basement and attic - will be launched for sale via private treaty for $38.8m.

The subject site has a frontage to Chestnut Drive in Green Hill Estate and is within the Chestnut Avenue GCB area.

The plot is zoned for residential use under the Master Plan 2019. It is within walking distance to both the Cashew and Hillview MRT stations on the Downtown Line.