First GCB on 2017 sold in Jalan Kampong Chantek

The first transaction in a Good Class Bungalow (GCB) Area this year, a bungalow along Jalan Kampong Chantek off Dunearn Road was sold for S$27.59 million — about S$1,003 per square foot (psf) based on the freehold land area of 27,504 sq ft. The property is in the Swiss Club Road GCB Area.

Sited on an upward-sloping site is an old vacant house (11,000 sq ft built-up area) with two storeys and an attic level. There are seven bedrooms and a swimming pool. Ronald Te, co-founder of Super Group behind the famous 3-in-1 Super Coffee sachets, bought the property.

Super Group fellow co-founder David Teo bought a GCB along Fifth Avenue off Bukit Timah Road for S$24.5 million or S$1,626 psf last year. The two-storey house is next to the bungalow where Mr Teo and his family reside.

The Dutch tea and coffee group Jacobs Douwe Egberts (JDE) launched a takeover offer for the beverage group.

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