Large Holland Rise GCB plot on the market for $106 mil
The site is next to Holland Village MRT Station on the Circle Line. This indicates it is beside the F&B and even lifestyle features in the Holland Village location. This includes the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, also a range of snack bars along Lorong Mambong.
” The non commercial enclave offers a tranquil plus easy-going vibe, furthermore is very searched for by prospective house customers,” states Mary Sai, managing director of Capital Markets, Knight Frank Singapore.
“Given the restricted accessibility of top landed homes, particularly a significant one similar to this, paired with good demand from foreign ultra-high-net-worth family groups that are eager to pay for leasing premiums for this type of properties, we expect eager attraction for this list,” says Sai.
Sai adds: “Bigger is indeed far better– potential buyers are inundated with multiple options in regards to layout and will manage to build a magnificent house of their aspirations.”
Based upon research by Knight Frank, recent GCB purchases in the district involve the purchase of 54 Cornwall Gardens for $47 million, mirroring a land fee of $2,162 psf. At the same time, the GCB at 32 White House Park was sold for $45.5 million, or $3,017 psf on the land area.
Granted the dimension of the land, there is potential for the site to be split right into two or three GCBs, says Knight Frank. It also indicates that the plot is approximately 3 times more than the minimum land scale of 1,400 sq m (15,064 sq ft) called for to be viewed a GCB property development.
The site is found off Holland Road in prime District 10 and the plot of land lies within the exclusive Holland Rise GCB spot. According to news agency introduction, the area is reachable through 2 different dead ends, one at Holland Rise and even the other by East Sussex Lane.
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has been offered for $106 million. This works out to a land rate of $2,000 psf, according to an announcement by Knight Frank Singapore, the single advertising agent for this profit.