Large Holland Rise GCB plot on the market for $106 mil
The spot is near to Holland Village MRT Terminal on the Circle Line. This indicates it is close to the F&B plus lifestyle services in the Holland Village place. This consists of the upcoming One Holland Village mixed-use development, Holland Drive Market & Food Centre, Chip Bee Gardens, plus a host of restaurants along Lorong Mambong.
Based upon research by Knight Frank, current GCB purchases in the surroundings include the purchase of 54 Cornwall Gardens for $47 million, showing a land rate 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 property area.
“Given the minimal supply of top landed houses, particularly a significant one similar to this, paired with healthy interest from foreign ultra-high-net-worth families that are willing to spend leasing premiums for this type of houses, we assume eager attention for this advertisement,” says Sai.
Provided the dimension of the property, there is potential for the place to become partitioned into 2 or 3 GCBs, states Knight Frank. It even notes that the plot is approximately 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 property development.
The location is situated off Holland Street in top District 10 including the plot of property exists in just the special Holland Rise GCB region. According to news agency launch, the area is accessible using 2 separate dead ends, one at Holland Rise and even the other in East Sussex Lane.
Sai adds: “Larger is definitely much better– possible consumers are flooded with numerous options in terms of layout and also will certainly manage to construct a sensational house of their desires.”
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has already been sold for $106 million. This arranges to a land price of $2,000 psf, according to a news release by Knight Frank Singapore, the sole advertising agent for this transaction.
” The residential enclave provides a tranquil plus easy-going atmosphere, and is very searched for by prospective home purchasers,” states Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.