Large Holland Rise GCB plot on the market for $106 mil
The spot is close to Holland Village MRT Terminal on the Circle Line. This indicates it is beside the F&B plus lifestyle features in the Holland Village area. This consists of the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, and even a host of snack bars along Lorong Mambong.
The site is situated off Holland Street in prime District 10 including the plot of land exists throughout the premium Holland Rise GCB region. According to news agency release, the site is accessible via two separate dead ends, one at Holland Rise and even the other by East Sussex Lane.
Based on research by Knight Frank, recent GCB purchases in the district consist of the purchase of 54 Cornwall Gardens for $47 million, reflecting a land rate of $2,162 psf. On the other hand, the GCB at 32 White House Park was sold for $45.5 million, or $3,017 psf on the property area.
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has recently been put up for sale for $106 million. This works out to a land price of $2,000 psf, according to a news release by Knight Frank Singapore, the single promotion broker for this sale.
Sai adds: “Bigger is absolutely far better– prospective buyers are swamped with numerous options in terms of design and will be able to build a magnificent residence of their ideals.”
” The non commercial surround provides a serene and easy-going feel, furthermore is highly demanded by prospective home customers,” claims Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.
“Given the minimal supply of prime landed residences, especially a substantial one similar to this, coupled with good need from international ultra-high-net-worth family groups that are eager to pay for leasing premiums for such houses, we expect eager attraction for this list,” states Sai.
Given the size of the area, there is capability for the location to become partitioned into 2 or 3 GCBs, states Knight Frank. It also notes that the plot is approximately three times beyond the minimum property scale of 1,400 sq m (15,064 sq ft) needed to be considered a GCB development.