Caldecott Hill Estate

The upcoming transformation of the former Caldecott Broadcast Centre (CBC) site into a collection of expansive Good Class Bungalows (GCBs) has generated significant interest within the prime District 11 Caldecott Hill Estate.

This redevelopment project, spearheaded by Perennial Holdings, signifies a rare opportunity to acquire a substantial GCB plot within this coveted enclave.

 

Responding to Residents’ Concerns

Initial plans for the CBC site envisioned a higher density of smaller lots. However, in collaboration with the Urban Redevelopment Authority (URA) and after careful consideration of resident feedback, Perennial opted for a final design comprising only 15 generous GCB plots, ranging in size from 15,070 sq ft to a substantial 250,801 sq ft.

It didn’t take long for URA to flatly turn down Mediacorp’s application to construct condominiums on the Caldecott Hill property. Their rejection has this justification:

It is not possible to sustain the planned five-story condominium construction because it conflicts with the low density residential character of the nearby existing excellent class bungalow projects. Only two-story excellent class bungalow buildings are allowed on the land since it is the planning aim, as stated in the Master Plan 2014 Designated Landed Housing Area.

Simply said, the Caldecott Hill site is unsuitable for a condominium. It is also agreed by many who are acquainted with the community that the single-lane roads cannot handle the extra traffic that a condominium would bring.

That rejection had to have hurt Mediacorp. The argument is that selling the site with the potential to construct a 550-unit condominium would have been significantly more profitable than selling it for bungalow construction.

 

A Pioneering Offering of Leasehold GCBs

Caldecott Hil

This project marks a significant milestone – the first large-scale offering of 99-year leasehold GCBs within Caldecott Hill Estate. To entice potential buyers accustomed to freehold GCBs in the area, Perennial is anticipated to offer these plots at strategically attractive price points.

The collaboration between Perennial and DP Architects promises GCBs that seamlessly integrate with the established character of Caldecott Hill while incorporating modern design elements. The expansive plots offer the potential for grand residences catering to multi-generational families or those seeking unparalleled privacy and space.

 

Strong Market Response Expected

Market analysts anticipate strong interest in these GCBs, given the limited availability of such substantial plots within Caldecott Hill Estate. The scarcity of GCB listings, coupled with rising freehold GCB prices, further bolsters the appeal of this development.

The redevelopment of the former CBC site presents a unique opportunity to redefine luxury living within the prestigious Caldecott Hill Estate. With its focus on spacious plots, modern design, and strategic pricing, this project is poised to attract a new generation of discerning GCB buyers.