Large Holland Rise GCB plot on the market for $106 mil
Based upon study by Knight Frank, latest GCB transactions in the surroundings 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 land area.
” The residential enclave gives a tranquil plus easy-going atmosphere, and is highly sought after by potential home customers,” says Mary Sai, executive manager of Capital Markets, Knight Frank Singapore.
Given the measurements of the area, there is capability for the place to be split right into 2 or 3 GCBs, states Knight Frank. It also indicates that the plot is around three times greater than the least possible 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 much better– would-be consumers are swamped with several options in regards to design as well as will certainly be able to develop a stunning house of their dreams.”
The site is near to Holland Village MRT Station on the Circle Line. This indicates it is beside the F&B and lifestyle services in the Holland Village area. This consists of the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, also a host of cafes along Lorong Mambong.
The location is located off Holland Road in prime District 10 including the plot of land is located in just the exclusive Holland Rise GCB region. According to the press release, the site is accessible via two separate dead ends, one at Holland Rise and even the other in East Sussex Lane.
“Given the limited accessibility of top landed houses, especially a big one like this, paired with healthy interest from foreign ultra-high-net-worth family groups that are eager to spend leasing costs for such residential properties, we assume keen attention for this list,” states Sai.
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has already been offered for $106 million. This works out to a land rate of $2,000 psf, according to a news release by Knight Frank Singapore, the single promotion broker for this profit.