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 implies it is alongside the F&B and lifestyle facilities in the Holland Village location. This features the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, and a host of restaurants throughout Lorong Mambong.
Sai includes: “Bigger is indeed better– would-be consumers are swamped with multiple options in terms of style and will have the ability to construct a spectacular residence of their aspirations.”
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has 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 sole marketing representative for this profit.
The location is situated off Holland Road in prime District 10 and the plot of property exists throughout the exclusive Holland Rise GCB spot. According to the press introduction, the area is convenient via 2 different dead ends, one at Holland Rise and even the other at East Sussex Lane.
“Given the limited accessibility of top landed residences, specifically a significant one like this, coupled with good demand from foreign ultra-high-net-worth family groups that are willing to pay for rental fees for such properties, we anticipate keen interest for this advertisement,” says Sai.
Given the size of the property, there is potential for the site to become subdivided into 2 or 3 GCBs, says Knight Frank. It even indicates that the plot is approximately 3 times greater than the least possible real estate size of 1,400 sq m (15,064 sq ft) required to be considered a GCB development.
” The non commercial surround provides a serene plus easy-going vibe, furthermore is very sought after by possible residence buyers,” claims Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.
Based on research study by Knight Frank, recent GCB purchases in the surroundings consist of the purchase of 54 Cornwall Gardens for $47 million, mirroring a land rate of $2,162 psf. At the same time, the GCB at 32 White House Park was reselled for $45.5 million, or $3,017 psf on the property area.
