Large Holland Rise GCB plot on the market for $106 mil
The site is close to Holland Village MRT Station on the Circle Line. This implies it is alongside the F&B and even lifestyle facilities in the Holland Village location. This features the upcoming One Holland Village mixed-use development, Holland Drive Market & Food Centre, Chip Bee Gardens, plus a range of coffee shops throughout Lorong Mambong.
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has already been put up for sale for $106 million. This turns out to a land rate of $2,000 psf, according to a news release by Knight Frank Singapore, the sole promotion agent for this transaction.
The site is located off Holland Road in prime District 10 including the plot of land is located in just the premium Holland Rise GCB spot. According to the press release, the area is reachable by means of 2 different cul-de-sacs, one at Holland Rise and even the other in East Sussex Lane.
“Given the limited accessibility of top landed residences, specifically a substantial one similar to this, paired with strong interest from foreign ultra-high-net-worth families that are ready to pay for leasing premiums for this type of properties, we anticipate eager attention for this list,” says Sai.
Granted the measurements of the area, there is capability for the location to be subdivided right into 2 or three GCBs, states Knight Frank. It also mentions that the plot is approximately 3 times greater than the minimum land dimension of 1,400 sq m (15,064 sq ft) called for to be viewed a GCB project.
Based upon research by Knight Frank, current GCB deals in the area include the purchase of 54 Cornwall Gardens for $47 million, reflecting a land fee of $2,162 psf. Meanwhile, the GCB at 32 White House Park was sold for $45.5 million, or $3,017 psf on the land area.
” The residential surround gives a serene including carefree atmosphere, furthermore is very searched for by prospective residence customers,” states Mary Sai, managing director of Capital Markets, Knight Frank Singapore.
Sai includes: “Bigger is indeed better– possible consumers are swamped with several options in regards to style and will manage to construct a stunning residence of their dreams.”