Large Holland Rise GCB plot on the market for $106 mil
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has been offered for $106 million. This arranges to a land cost of $2,000 psf, according to a press release by Knight Frank Singapore, the single marketing broker for this profit.
Based upon research by Knight Frank, current GCB purchases in the area include the sale of 54 Cornwall Gardens for $47 million, showing a land price of $2,162 psf. At the same time, the GCB at 32 White House Park was reselled for $45.5 million, or $3,017 psf on the property area.
“Given the limited availability of top landed houses, specifically a substantial one like this, combined with strong demand from international ultra-high-net-worth families that are eager to pay for rental costs for this type of houses, we expect keen attraction for this advertisement,” states Sai.
The site is near to Holland Village MRT Terminal on the Circle Line. This indicates it is beside the F&B and even lifestyle features in the Holland Village area. This consists of the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, and a range of coffee shops throughout Lorong Mambong.
” The residence enclave provides a calm and easy-going vibe, furthermore is highly sought after by possible house investors,” says Mary Sai, executive director of Capital Markets, Knight Frank Singapore.
Sai incorporates: “Bigger is indeed far better– potential consumers are inundated with numerous alternatives in terms of design and will be able to construct a magnificent house of their ideals.”
The area is located off Holland Road in prime District 10 and the plot of property lies within the exclusive Holland Rise GCB region. According to the press launch, the area is accessible through 2 different cul-de-sacs, one at Holland Rise also the other at East Sussex Lane.
Provided the measurements of the property, there is possibility for the place to become partitioned right into 2 or 3 GCBs, states Knight Frank. It even notes that the plot is around three times beyond the minimum real estate size of 1,400 sq m (15,064 sq ft) called for to be regarded a GCB property development.