Large Holland Rise GCB plot on the market for $106 mil
The location is near to Holland Village MRT Terminal on the Circle Line. This indicates it is alongside the F&B plus lifestyle amenities in the Holland Village location. This consists of the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, plus a range of cafes along Lorong Mambong.
“Given the limited accessibility of top landed residences, specifically a huge one like this, combined with healthy demand from foreign ultra-high-net-worth family groups that are ready to pay leasing fees for this kind of residential properties, we assume keen attraction for this listing,” claims Sai.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has been put up for sale for $106 million. This arranges to a land cost of $2,000 psf, according to a press release by Knight Frank Singapore, the single promotion agent for this sale.
Based upon study by Knight Frank, latest GCB transactions in the vicinity involve the purchase of 54 Cornwall Gardens for $47 million, showing 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 land area.
” The residential surround provides a calm and easy-going vibe, and also is extremely sought after by prospective home buyers,” says Mary Sai, managing manager of Capital Markets, Knight Frank Singapore.
Sai adds: “Bigger is absolutely better– potential consumers are flooded with several options in terms of design as well as will be able to develop a sensational house of their dreams.”
Given the dimension of the property, there is potential for the site to become split right into two or three GCBs, states Knight Frank. It even notes that the plot is around 3 times greater than the least possible real estate size of 1,400 sq m (15,064 sq ft) called for to be viewed a GCB property development.
The site is situated off Holland Street in prime District 10 including the plot of property exists in just the premium Holland Rise GCB spot. According to the press introduction, the area is accessible by means of 2 different cul-de-sacs, one at Holland Rise and even the other at East Sussex Lane.