Large Holland Rise GCB plot on the market for $106 mil
Based upon study by Knight Frank, latest GCB deals in the vicinity consist of the purchase of 54 Cornwall Gardens for $47 million, mirroring a land rate of $2,162 psf. Meanwhile, the GCB at 32 White House Park was sold for $45.5 million, or $3,017 psf on the land area.
” The residence surround gives a tranquil including carefree atmosphere, furthermore is very sought after by potential home investors,” states Mary Sai, managing director of Capital Markets, Knight Frank Singapore.
“Given the restricted supply of prime landed houses, specifically a significant one like this, paired with strong interest from overseas ultra-high-net-worth families that are eager to pay leasing fees for such residential properties, we anticipate eager interest for this list,” states Sai.
The spot is next to Holland Village MRT Station on the Circle Line. This indicates it is close to the F&B plus lifestyle amenities in the Holland Village place. This features the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, and even a range of cafes throughout Lorong Mambong.
Granted the size of the area, there is possibility for the place to be partitioned into two or three GCBs, claims Knight Frank. It even indicates that the plot is around three times more than the minimum property dimension of 1,400 sq m (15,064 sq ft) called for to be regarded a GCB project.
Sai incorporates: “Bigger is indeed far better– potential buyers are swamped with multiple choices in terms of layout and also will certainly manage to develop a magnificent house of their dreams.”
The area is situated off Holland Street in top District 10 and the plot of land is located within the exclusive Holland Rise GCB area. According to the press release, the area is reachable via 2 separate cul-de-sacs, one at Holland Rise and the other in East Sussex Lane.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has recently been sold for $106 million. This works out to a land cost of $2,000 psf, according to an announcement by Knight Frank Singapore, the sole advertising broker for this transaction.
