Large Holland Rise GCB plot on the market for $106 mil
Given the size of the property, there is capability for the site to become subdivided right into two or three GCBs, claims Knight Frank. It also mentions that the plot is around 3 times beyond the minimum real estate dimension of 1,400 sq m (15,064 sq ft) required to be considered a GCB development.
The spot is next to Holland Village MRT Terminal on the Circle Line. This suggests it is beside the F&B and lifestyle amenities in the Holland Village place. This features the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, plus a host of snack bars around Lorong Mambong.
“Given the restricted supply of prime landed homes, particularly a significant one like this, paired with healthy need from overseas ultra-high-net-worth family groups that are willing to pay for rental costs for this kind of residential properties, we anticipate eager interest for this listing,” claims Sai.
” The residence surround gives a serene plus carefree atmosphere, and is very demanded by potential house customers,” states Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.
Sai incorporates: “Bigger is absolutely far better– prospective consumers are inundated with multiple options in terms of style and will certainly have the ability to develop a sensational residence of their ideals.”
The site is found off Holland Street in prime District 10 and the plot of property exists throughout the exclusive Holland Rise GCB spot. According to the press release, the site is accessible through two various dead ends, one at Holland Rise and even the other by East Sussex Lane.
Based on research study by Knight Frank, recent GCB purchases in the area consist of the sale of 54 Cornwall Gardens for $47 million, mirroring a land fee 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 property area.
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has been offered for $106 million. This arranges to a land price of $2,000 psf, according to a news release by Knight Frank Singapore, the single promotion broker for this transaction.