Large Holland Rise GCB plot on the market for $106 mil
The site is near to Holland Village MRT Terminal on the Circle Line. This suggests it is close to 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, also a range of coffee shops around Lorong Mambong.
Given the size of the land, there is possibility for the place to become split into two or 3 GCBs, states Knight Frank. It even mentions that the plot is about three times more than the minimum real estate size of 1,400 sq m (15,064 sq ft) called for to be viewed a GCB development.
Sai includes: “Larger is absolutely better– prospective purchasers are swamped with multiple alternatives in terms of design and also will manage to construct a stunning house of their desires.”
” The residential surround gives a tranquil and carefree atmosphere, and also is extremely sought after by prospective house buyers,” states Mary Sai, executive manager of Capital Markets, Knight Frank Singapore.
“Given the minimal supply of prime landed houses, particularly a significant one like this, combined with good need from foreign ultra-high-net-worth families that are ready to spend rental fees for this kind of residential properties, we expect keen attraction for this list,” states Sai.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has already been put up for sale for $106 million. This works out to a land cost of $2,000 psf, according to an announcement by Knight Frank Singapore, the single advertising broker for this transaction.
The area is found off Holland Street in top District 10 including the plot of land is located in just the exclusive Holland Rise GCB area. According to the press release, the site is convenient via two various dead ends, one at Holland Rise also the other at East Sussex Lane.
Based on study by Knight Frank, current GCB transactions in the vicinity include the sale of 54 Cornwall Gardens for $47 million, showing a land price 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.