Large Holland Rise GCB plot on the market for $106 mil
The site is found off Holland Road in top District 10 and the plot of property is located throughout the premium Holland Rise GCB spot. According to the press launch, the area is reachable by means of two various cul-de-sacs, one at Holland Rise and even the other in East Sussex Lane.
” The residence enclave gives a tranquil and carefree feel, furthermore is extremely searched for by prospective residence buyers,” claims Mary Sai, executive manager of Capital Markets, Knight Frank Singapore.
The site is close to Holland Village MRT Station on the Circle Line. This indicates it is near the F&B and lifestyle facilities in the Holland Village area. This includes the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, and even a range of restaurants throughout Lorong Mambong.
Given the size of the area, there is potential for the place to become subdivided right into 2 or 3 GCBs, states Knight Frank. It even mentions that the plot is approximately 3 times greater than the minimum real estate scale of 1,400 sq m (15,064 sq ft) called for to be viewed a GCB property development.
Sai incorporates: “Bigger is absolutely better– would-be purchasers are flooded with numerous alternatives in regards to design as well as will have the ability to build a stunning house of their desires.”
“Given the restricted supply of top landed residences, specifically a big one similar to this, paired with good need from international ultra-high-net-worth family groups that are eager to spend rental fees for this type of residential properties, we assume eager attention for this advertisement,” says Sai.
Based on research by Knight Frank, recent GCB purchases in the vicinity consist of the sale of 54 Cornwall Gardens for $47 million, mirroring a land price of $2,162 psf. On the other hand, the GCB at 32 White House Park was offered for $45.5 million, or $3,017 psf on the property area.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has been put up for sale for $106 million. This turns out to a land price of $2,000 psf, according to an announcement by Knight Frank Singapore, the single marketing broker for this sale.