Large Holland Rise GCB plot on the market for $106 mil
The area is situated off Holland Road in top District 10 and the plot of property exists throughout the special Holland Rise GCB spot. According to news agency introduction, the site is accessible through 2 different cul-de-sacs, one at Holland Rise and even the other by East Sussex Lane.
” The non commercial surround gives a serene and carefree atmosphere, and is very sought after by possible home customers,” claims Mary Sai, managing manager of Capital Markets, Knight Frank Singapore.
Sai adds: “Larger is definitely better– would-be buyers are swamped with several alternatives in regards to layout and also will certainly be able to develop a stunning residence of their dreams.”
Based on research by Knight Frank, current GCB transactions in the area consist of the purchase of 54 Cornwall Gardens for $47 million, mirroring a land fee of $2,162 psf. At the same time, the GCB at 32 White House Park was offered for $45.5 million, or $3,017 psf on the property area.
“Given the minimal accessibility of top landed houses, especially a big one like this, coupled with healthy interest from foreign ultra-high-net-worth family groups that are willing to pay for rental costs for this kind of houses, we expect eager attention for this listing,” states Sai.
The location is near to Holland Village MRT Terminal on the Circle Line. This implies it is near the F&B and even lifestyle facilities in the Holland Village area. This features the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, and a host of cafes throughout Lorong Mambong.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has recently been sold for $106 million. This turns out to a land price of $2,000 psf, according to a news release by Knight Frank Singapore, the sole promotion broker for this sale.
Granted the size of the land, there is possibility for the location to be partitioned right into two or three GCBs, says Knight Frank. It even mentions that the plot is about three times more than the minimal real estate size of 1,400 sq m (15,064 sq ft) called for to be regarded a GCB property development.