Large Holland Rise GCB plot on the market for $106 mil
The spot is near to Holland Village MRT Station on the Circle Line. This indicates it is beside the F&B plus lifestyle amenities in the Holland Village place. This includes the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, also a range of restaurants throughout Lorong Mambong.
Sai includes: “Bigger is absolutely much better– possible purchasers are flooded with multiple choices in regards to layout and also will certainly manage to construct a stunning house of their aspirations.”
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has been sold for $106 million. This turns out to a land price of $2,000 psf, according to an announcement by Knight Frank Singapore, the sole advertising representative for this transaction.
” The residence enclave provides a serene including carefree vibe, and is very demanded by potential residence purchasers,” claims Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.
“Given the limited availability of top landed houses, specifically a huge one like this, combined with strong need from overseas ultra-high-net-worth families that are ready to pay rental premiums for this kind of residential properties, we anticipate keen attraction for this listing,” states Sai.
The site is situated off Holland Street in top District 10 and the plot of property lies within the premium Holland Rise GCB area. According to news agency introduction, the site is reachable by means of 2 various dead ends, one at Holland Rise and the other at East Sussex Lane.
Based upon research by Knight Frank, recent GCB transactions in the surroundings consist of the sale of 54 Cornwall Gardens for $47 million, reflecting a land fee of $2,162 psf. At the same time, the GCB at 32 White House Park was offered for $45.5 million, or $3,017 psf on the land area.
Granted the dimension of the area, there is potential for the place to become subdivided into two or three GCBs, says Knight Frank. It also notes that the plot is around 3 times beyond the minimal property dimension of 1,400 sq m (15,064 sq ft) required to be regarded a GCB property development.