Creating a niche in luxury Good Class Bungalows sold at record-breaking prices

When the Good Class Bungalow (GCB) at Cluny Hill was sold for $63.7 million, or $4,291 psf based on land area, in May 2021, it set a new record for GCBs that year. The Cluny Hill GCB was the first turnkey project undertaken by Meir Homes, a development advisory firm founded in 2018 by Sebestian Soh, a second-generation entrepreneur. The eldest of six children, he learnt the real estate business from his father, David Soh, founder of DDS Development, a niche property developer of landed housing and now chairman of his holding company, Soh International. Meir Homes focuses on the development, design, fit-out and furnishing of bespoke luxury GCBs, says the younger Soh. The niche developer recently sold a GCB at Tanglin Hill for $93.888 million or $6,197 psf, a new record price in psf terms. The property is still under construction. Read also: Convicted Hin Leong founder OK Lim to sell his third GCB for $43 mil Advertisement Advertisement “These houses are expertly curated to suit the lifestyle needs of each homeowner,” says Soh of Meir Homes. “It frees them from the hassle of dealing with the various government authorities, architects, project consultants and contractors.”

Buying off-plan

The GCB at Cluny Hill was designed by Wallflower Architecture + Design, and obtained Temporary Occupation Permit (TOP) in January 2023. Named “Touching Eden”, the property won the Singapore Institute of Architecture Merit Award in the low-density housing category in 2024. It was also a finalist in this year’s INDE. Awards and World Architecture Festival. “Looking back now and considering that the property has won numerous accolades for its design and architecture, we can confidently say that the premium we paid three years ago was well worth it,” say the owners of the GCB at Cluny Hill, who only want to be known as Mr and Mrs Ong in their response to queries from EdgeProp Singapore. Ong purchased the 15,000 sq ft home based on the 3D perspectives, as the house was still under construction in 2021. Before deciding on the purchase, he and his wife looked at more than 10 other GCBs, a mix of newly completed and older properties for redevelopment. “We kept an open mind and didn’t have any specific expectations when viewing the various properties,” adds Ong. “This allowed us to thoroughly explore all available options and ultimately make a well-informed decision that best suited our needs and preferences.” Read also: Convicted oil tycoon OK Lim to sell his third GCB for $43 mil Advertisement Advertisement One of the main draws was the property’s proximity to the Singapore Botanic Gardens: “We have always dreamed of living next to a lush, green landscape,” says Ong. The architect also played a significant role in Ong’s decision. He had initially engaged Wallflower to advise him on the redevelopment of a conserved GCB he was interested in. Coincidentally, he discovered that Wallflower was also the design architect for the GCB at Cluny Hill, which “greatly influenced our decision to purchase it”.

Convenience and time-saving

The house’s overall design, its aesthetic appeal, functional layout and attention to detail were qualities that Ong and his wife sought in a home. “The convenience of moving into a beautifully designed and completed property was another appealing factor,” says Ong. “This saved us the time and effort that would have been required to start from scratch and build a new home.” The couple had retained all the original fittings, finishes and furnishings provided by the developer. “We were given the flexibility to state our preferences to the developer during their interior design planning, which ensured that the final elements perfectly matched our tastes and needs,” he says. Since moving in, they have entertained “quite frequently”. The theatre room is a favourite entertainment spot for the Ongs, where they hold movie nights, immersive gaming sessions or karaoke parties. “The high-quality audio-visual setup makes every event in this room special and enjoyable,” says Ong. Another favourite spot is the family room, where the couple spends the most time with their children and sometimes hosts friends for board game sessions and casual gatherings. Read also: GCB and luxury residential transactions declined in 2H2023 but prices remained stable: CBRE Advertisement Advertisement The attic study, with its breathtaking view of the Singapore Botanic Gardens, “is a constant reminder of why we fell in love with this property in the first place”, says Ong.

‘Curated homes’

With the GCB at Cluny Hill sold, Meir Homes turned its attention to its next project at Tanglin Hill. Soh collaborated with the same team at Cluny Hill: design architect Wallflower Architects, construction consultancy Good Class Builders, interior designer Edmund Ng Architects and landscape architect Salad Dressing. “It’s unusual for developers to build bespoke GCBs one at a time, let alone fully fitted and furnished with soft furnishings,” says Robin Tan, principal architect at Wallflower. “It requires a significant commitment and passion. There’s no one in the market quite like Meir Homes.” According to Tan, a site's characteristics influence the form of the GCB. Some have compared the Cluny Hill GCB to “a super yacht,” he says. Meanwhile, the Tanglin Hill GCB has been named Kumiko House. The façade design was inspired by traditional Japanese Kumiko patterned wooden panels, which serve as a sunshade and privacy screen. The interior design was inspired by Japanese architect Tadao Ando and, therefore, features spacious interiors that maximise the flow and efficiency as well as offer flexibility for multiple uses. The GCB has a freehold land area of 15,150 sq ft and a house with a built-up area of about 29,660 sq ft across a basement, two storeys and an attic. The basement is large enough for 10 cars and has two electric vehicle charging points. There is an entertainment area with an 18-seater theatre, a walk-in wine chiller, a lounge and a powder room. The first level has a 25m lap pool, a large living and dining area with a dry kitchen, a powder room and a wet kitchen tucked away. On the second level is a 1,500 sq ft master suite (the equivalent of a three-bedroom apartment today), which includes a master bedroom, a study, a walk-in wardrobe, and a master bathroom. There is also a family lounge and three other en suite bedrooms. The attic level has two more en suite rooms that can be used as bedrooms, a gym, or a hobby room. The space can be amalgamated to create a single event or gathering space.

‘One GCB at a time’

The GCB at Tanglin HIll is targeted for completion by end 2024. Before completion however, the GCB already found a buyer willing to pay $93.88 million ($6,197 psf), according to a property title search. That has also broken a new record in terms of price psf based on land area. Sources indicate that Realstar Premier Group brokered the deal, although the firm declined to comment. Meir Homes’ Soh declined to comment on the deal, citing client confidentiality. “For a new GCB, it’s not just the land or the architectural design of the house that matters,” says the elder Soh of Soh International. “Meir Homes conceptualises each project thematically, focusing on the interiors. Each house is uniquely delivered with imported European finishing and fittings with fine attention to detail. The owners can just move in with their suitcases.”

GCB with over 40,000 sq ft space at Dalvey Estate

Meir Homes’ website states that the next GCB in its series of bespoke homes is at Dalvey Estate. The GCB sits on a freehold land area of 15,080 sq ft and boasts a 50m wide frontage. The new house will have over 40,000 sq ft of gross floor area across two basement levels, two upper floors and an attic. The property is elevated above street level and has a natural basement. Meir Homes decided to build a second basement to incorporate more facilities. Basement one features a garage for 12 cars, a 20m lap pool and a 4,000 sq ft entertainment space. Basement two will have an indoor multi-purpose hall (the size of a basketball court) with an 8m ceiling height. The master suite is 2,000 sq ft (the size of a four-bedroom apartment today), and the remaining five en suite bedrooms are at least 450 sq ft each. Realstar Premier is handling the sale of the GCB at Dalvey Estate. The price tag is $128 million, which works out to $8,488 psf based on land area. However, if the price is based on the built-up area of over 40,000 sq ft, the price is about $3,000 psf, “which is very reasonable”, says Julian Yip, Realstar’s managing director. Two potential buyers have already expressed interest in the property. One wants a bowling alley with three lanes in the basement, while another wants to convert one of the floors into a conference hall large enough for between 100 and 200 people. Realstar’s Yip expects prices in this top-tier of the GCB segment to continue to hit new highs. However, that would mean a greater price divide between the new-build GCBs and the older properties that need to be redeveloped, he adds.