Large Holland Rise GCB plot on the market for $106 mil
The area is situated off Holland Street in top District 10 and the plot of land lies in just the special Holland Rise GCB area. According to news agency introduction, the site is accessible by means of 2 separate cul-de-sacs, one at Holland Rise also the other at East Sussex Lane.
Based on study by Knight Frank, current GCB deals in the surroundings involve the sale 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.
“Given the restricted accessibility of prime landed houses, particularly a huge one similar to this, coupled with good need from overseas ultra-high-net-worth family groups that are eager to spend rental fees for this kind of houses, we anticipate keen attraction for this advertisement,” claims Sai.
” The non commercial enclave offers a tranquil plus easy-going feel, and also is highly sought after by possible residence buyers,” claims Mary Sai, managing manager of Capital Markets, Knight Frank Singapore.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has recently been offered for $106 million. This arranges to a land rate of $2,000 psf, according to a news release by Knight Frank Singapore, the sole marketing agent for this profit.
Provided the measurements of the property, there is capability for the location to be partitioned right into two or three GCBs, states Knight Frank. It also mentions that the plot is approximately 3 times more than the least possible real estate scale of 1,400 sq m (15,064 sq ft) required to be regarded a GCB property development.
Sai adds: “Larger is indeed far better– prospective buyers are flooded with numerous alternatives in regards to design as well as will certainly be able to develop a spectacular home of their ideals.”
The location is next to Holland Village MRT Terminal on the Circle Line. This means it is beside the F&B plus lifestyle services in the Holland Village location. This includes the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, also a range of cafes throughout Lorong Mambong.
