Large Holland Rise GCB plot on the market for $106 mil
The site is near to Holland Village MRT Terminal on the Circle Line. This suggests it is near the F&B plus lifestyle amenities in the Holland Village place. This consists of the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, also a host of snack bars around Lorong Mambong.
The location is situated off Holland Street in prime District 10 including the plot of property exists within the exclusive Holland Rise GCB spot. According to news agency release, the area is convenient using 2 various dead ends, one at Holland Rise and the other in East Sussex Lane.
“Given the minimal supply of top landed residences, specifically a big one such as this, combined with good interest from international ultra-high-net-worth family groups that are ready to pay leasing premiums for this type of residential properties, we assume eager interest for this listing,” says Sai.
Based on research study by Knight Frank, latest GCB deals in the vicinity consist of the purchase of 54 Cornwall Gardens for $47 million, mirroring a land price 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 land area.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has recently been put up for sale for $106 million. This turns out to a land cost of $2,000 psf, according to an announcement by Knight Frank Singapore, the sole advertising broker for this sale.
Given the dimension of the land, there is capability for the site to be split into two or 3 GCBs, claims Knight Frank. It also indicates that the plot is around 3 times beyond the minimal property size of 1,400 sq m (15,064 sq ft) called for to be regarded a GCB property development.
Sai includes: “Bigger is definitely far better– would-be purchasers are inundated with numerous choices in regards to design as well as will certainly be able to build a spectacular home of their dreams.”
” The residential enclave gives a tranquil and carefree atmosphere, and also is extremely searched for by possible home buyers,” says Mary Sai, managing supervisor of Capital Markets, Knight Frank Singapore.