Cluny Road GCB owned by family of Lee Kuan Yew's late nephew up for sale at S$98.8 million

A Good Class Bungalow (GCB) located along Lermit Road has been put on the market for S$98,800,000.

The GCB is owned by the family of the late son of founding Prime Minister Lee Kuan Yew's brother, The Business Times reported.

This is the third time the property has been put on the market.

Owned by family of Lee Kuan Yew's late grand-nephew

Media reports stated that the freehold property is owned by Lee Howe Yong, the son of Lee Kuan Yew's brother, Dennis Lee Kim Yew.

Lee Howe Yong passed away in November 2023.

According to real estate portal Realstar Premier, the current asking price for the property is S$98,800,000.

This amounts to about S$3,313 per square feet for the 29,818 square feet property.

Completed in 1995, the property has six bedrooms in total.

Past listings in 2023 and 2024

A 2023 EdgeProp report wrote that the bungalow, located in the Cluny Park GCB area, was listed for sale at S$137.2 million.

In January 2024, the property was launched again for sale by real estate firm JLL, with the asking price reported as S$105 million.

In a news release then, JLL's Executive Director of Capital Markets Tan Hong Boon had commented on the 2023 listing, saying, "The property was previously on the market for private sale last year amid a challenging economic landscape marked by high interest rates, escalating costs, and ongoing geopolitical tensions."

"Despite notable interest, market uncertainties somewhat tempered buyers' willingness to submit competitive offers," he added.

Describing the property's features, JLL noted in 2024 that it has a "predominantly regular-shaped site with a short driveway access".

It is also located 480m from the Singapore Botanic Gardens and is bounded by Cluny Road and Nassim Road.

Gleneagles Hospital and Dempsey Hill are also nearby.

The nearest MRT station is Napier MRT, which is 900m away or 12 minutes on foot, according to Google Maps.