Large Holland Rise GCB plot on the market for $106 mil
Provided the size of the land, there is capability for the place to become split right into 2 or three GCBs, claims Knight Frank. It also mentions that the plot is about 3 times more than the minimum land size of 1,400 sq m (15,064 sq ft) called for to be considered a GCB development.
The spot is close to Holland Village MRT Terminal on the Circle Line. This means it is close to the F&B and lifestyle services in the Holland Village location. This includes the upcoming One Holland Village mixed-use development, Holland Drive Market & Food Centre, Chip Bee Gardens, also a host of coffee shops along Lorong Mambong.
Based upon research by Knight Frank, current GCB deals in the area involve the purchase of 54 Cornwall Gardens for $47 million, mirroring 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 non commercial surround offers a tranquil and easy-going ambiance, furthermore is extremely searched for by potential house purchasers,” states Mary Sai, managing manager of Capital Markets, Knight Frank Singapore.
A 52,992 sq feet 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 advertising representative for this transaction.
Sai adds: “Bigger is absolutely better– potential buyers are inundated with multiple choices in regards to layout as well as will have the ability to develop a spectacular house of their aspirations.”
“Given the minimal availability of prime landed residences, specifically a huge one such as this, combined with healthy interest from overseas ultra-high-net-worth family groups that are willing to pay for rental fees for such houses, we anticipate eager interest for this listing,” says Sai.
The location is found off Holland Street in prime District 10 including the plot of land lies throughout the exclusive Holland Rise GCB region. According to the press launch, the site is convenient via two separate cul-de-sacs, one at Holland Rise and even the other in East Sussex Lane.