Large Holland Rise GCB plot on the market for $106 mil
The location is found off Holland Road in top District 10 including the plot of land lies within the exclusive Holland Rise GCB spot. According to news agency release, the area is reachable by means of two various cul-de-sacs, one at Holland Rise and the other in East Sussex Lane.
Based on study by Knight Frank, current GCB purchases in the vicinity include the purchase of 54 Cornwall Gardens for $47 million, reflecting a land fee of $2,162 psf. On the other hand, the GCB at 32 White House Park was offered for $45.5 million, or $3,017 psf on the property area.
” The residential enclave gives a serene and carefree feel, furthermore is extremely searched for by prospective house investors,” says Mary Sai, managing director of Capital Markets, Knight Frank Singapore.
“Given the restricted accessibility of prime landed houses, particularly a big one like this, paired with good demand from foreign ultra-high-net-worth families that are ready to pay leasing premiums for this type of houses, we anticipate keen attraction for this advertisement,” claims Sai.
Sai adds: “Bigger is absolutely much better– possible buyers are inundated with numerous alternatives in regards to style as well as will certainly have the ability to develop a magnificent residence of their dreams.”
The site is close to Holland Village MRT Station on the Circle Line. This means it is alongside the F&B plus lifestyle amenities in the Holland Village area. This includes the upcoming One Holland Village mixed-use development, Holland Drive Market & Food Centre, Chip Bee Gardens, and a range of restaurants around Lorong Mambong.
Provided the size of the area, there is possibility for the site to be subdivided right into two or three GCBs, states Knight Frank. It also notes that the plot is around 3 times greater than the least possible real estate scale of 1,400 sq m (15,064 sq ft) needed to be viewed a GCB project.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has already been offered for $106 million. This turns out to a land price of $2,000 psf, according to a press release by Knight Frank Singapore, the single promotion broker for this transaction.
