Large Holland Rise GCB plot on the market for $106 mil
Provided the size of the land, there is possibility for the site to become partitioned into two or 3 GCBs, says Knight Frank. It even indicates that the plot is around 3 times more than the least possible property scale of 1,400 sq m (15,064 sq ft) called for to be viewed a GCB project.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has been offered for $106 million. This turns out to a land rate of $2,000 psf, according to an announcement by Knight Frank Singapore, the single promotion agent for this sale.
Sai incorporates: “Larger is indeed much better– prospective purchasers are swamped with numerous choices in terms of style and also will manage to construct a magnificent house of their aspirations.”
The location is close to Holland Village MRT Station on the Circle Line. This indicates it is near the F&B plus lifestyle features in the Holland Village location. This includes the upcoming One Holland Village mixed-use development, Holland Drive Market & Food Centre, Chip Bee Gardens, and even a host of coffee shops along Lorong Mambong.
“Given the limited availability of top landed houses, specifically a significant one similar to this, coupled with strong need from international ultra-high-net-worth family groups that are ready to pay leasing costs for such properties, we expect keen interest for this advertisement,” claims Sai.
The location is situated off Holland Street in top District 10 and the plot of land is located in just the special Holland Rise GCB region. According to the press introduction, the site is accessible via two separate cul-de-sacs, one at Holland Rise and the other at East Sussex Lane.
” The residence surround offers a calm plus carefree ambiance, and is very sought after by possible residence investors,” claims Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.
Based upon research study by Knight Frank, latest GCB transactions in the area involve the sale of 54 Cornwall Gardens for $47 million, showing a land price 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.