At the old Caldecott Broadcast Centre (CBC) Site which is located near Andrew Road, developer is planning to have a total number of fifteen GCB (good class bungalows) build. These GCBS will have a tenure of 99 years. Note that this will likely be the largest cluster of GCB leasehold developments within the Caldecott Hill area. The Caldecott Hill are comprises of mainly freehold GCB.
Perennial Holdings has proposed redevelopment of a 752,015 square feet leasehold site with 15 bungalows at the very first phase. Each bungalow in this proposed development will have 1400 square meters to 23300 square meters in size. An entity with a combined ownership of Mr Kuok Khoon Hong and Perennial purchased this site in the year 2020 with a bid of close to $281 million.
As the proposed 15 bungalows were expected to have huge plot sizes, Perennial reported that it will be possible to subdivide them into multiple small-sized bungalow land by potential homeowners. The simulations of Perennial show a development plan for 26 luxurious bungalows that includes 15 initial stage bungalows with 11 subdivisions. Note that all bungalows that are being subdivided in this development are expected to have a land size of around 1400 square meters minimally. However, Perennial in a recent interview said that the teams are yet planning on the development and they will make an official announcement on this at the right time.
Another report reveals that the chief executive and chairman of the of Wilmar International will most likely be investing in the biggest land in this development. It is also reported that there are several GCBs that have a lease of 99 years located in the prime Bukit Timah estate. However, the residedential site located at previous CBC is the first huge land that has been granted approval to be divided into several GCB lands that are of 99 years lease. Moreover, this will also turn out to be the largest cluster in 99-yer GCB plots of 99 years lease with plenty of GCBs that are of freehold lease within Caldecott Hill.
Mediacorp has recently received an approval from URA to work on this site at GCB area and they are expected to develop 65 modern bungalows that are of two-storey high and each one of these will have a minimum size of 800 square meters in area per house. However, the prior proposal included the development of 80-90 bungalows with a strategic mixture of 800 and 400 square meter plots. This site was purchased by an entity joined owned by Mr. Kuok and Perennial in the year 2020.
As per the Master Plan 2019 set by URA, this site is currently restricted for community and civic institution purposes. However, soon it will be rezoned for residential purposes and it will bring differential premium and long-term benefit for the state.
This development is currently has a remaining lease of about 72 years. It means that developers need to top up a considerable amount to top up the lease for the extension up to 99-year lease. Furthermore, several amazing design additions are proposed for the new construction, along with the speculations that all 15 bungalows at this site will have separate vehicle access from nearby estate roads.
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