Large Holland Rise GCB plot on the market for $106 mil
Given the measurements of the land, there is capability for the location to become split into two or 3 GCBs, states Knight Frank. It even indicates that the plot is approximately 3 times more than the minimal property dimension of 1,400 sq m (15,064 sq ft) called for to be considered a GCB development.
The area is found off Holland Street in top District 10 and the plot of land lies throughout the special Holland Rise GCB spot. According to news agency launch, the site is reachable through 2 various dead ends, one at Holland Rise and even the other at East Sussex Lane.
” The non commercial enclave provides a peaceful plus easy-going feel, and also is very demanded by possible house investors,” says Mary Sai, executive director of Capital Markets, Knight Frank Singapore.
Sai adds: “Larger is absolutely much better– possible consumers are inundated with several options in terms of design as well as will manage to build a stunning house of their dreams.”
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has already been offered for $106 million. This arranges to a land rate of $2,000 psf, according to a press release by Knight Frank Singapore, the single marketing representative for this sale.
The location is near to Holland Village MRT Terminal on the Circle Line. This suggests it is beside 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, plus a host of cafes around Lorong Mambong.
“Given the restricted availability of prime landed houses, specifically a significant one such as this, coupled with strong demand from international ultra-high-net-worth families that are eager to pay for leasing premiums for this type of houses, we assume eager interest for this advertisement,” says Sai.
Based upon research by Knight Frank, recent GCB transactions in the surroundings include the sale of 54 Cornwall Gardens for $47 million, reflecting a land fee 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 property area.