Large Holland Rise GCB plot on the market for $106 mil
Granted the dimension of the property, there is capability for the location to be subdivided into 2 or three GCBs, says Knight Frank. It even indicates that the plot is approximately 3 times more than the minimum property size of 1,400 sq m (15,064 sq ft) called for to be viewed a GCB development.
” The non commercial surround provides a peaceful plus easy-going ambiance, and is very demanded by possible residence purchasers,” claims Mary Sai, managing director of Capital Markets, Knight Frank Singapore.
Based upon research by Knight Frank, latest GCB transactions in the area involve the purchase of 54 Cornwall Gardens for $47 million, reflecting a land rate 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 land area.
The spot is close to Holland Village MRT Terminal on the Circle Line. This implies it is close to the F&B and lifestyle amenities in the Holland Village location. This includes the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, and even a range of cafes along Lorong Mambong.
“Given the limited availability of top landed houses, specifically a big one such as this, combined with good interest from overseas ultra-high-net-worth families that are eager to pay for rental premiums for this type of houses, we assume keen attention for this list,” says Sai.
Sai incorporates: “Bigger is definitely far better– would-be purchasers are swamped with multiple choices in terms of style and will certainly manage to develop a stunning residence of their desires.”
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has already been put up for sale for $106 million. This arranges to a land price of $2,000 psf, according to a news release by Knight Frank Singapore, the sole marketing representative for this sale.
The area is found off Holland Road in top District 10 including the plot of land is located within the exclusive Holland Rise GCB area. According to news agency launch, the area is accessible by means of two various dead ends, one at Holland Rise also the other at East Sussex Lane.
