Large Holland Rise GCB plot on the market for $106 mil
A 52,992 sq ft 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 sole marketing representative for this profit.
Based upon research by Knight Frank, recent GCB purchases in the vicinity include the purchase of 54 Cornwall Gardens for $47 million, showing a land fee of $2,162 psf. Meanwhile, the GCB at 32 White House Park was sold for $45.5 million, or $3,017 psf on the property area.
“Given the minimal availability of prime landed residences, especially a big one like this, paired with healthy need from international ultra-high-net-worth families that are ready to spend leasing fees for such houses, we expect eager attraction for this list,” claims Sai.
The location is near to Holland Village MRT Terminal on the Circle Line. This indicates it is close to the F&B and even lifestyle amenities in the Holland Village location. This includes the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, plus a range of restaurants along Lorong Mambong.
Sai adds: “Larger is absolutely far better– potential consumers are inundated with several options in regards to style and also will certainly have the ability to develop a spectacular residence of their dreams.”
The site is found off Holland Street in prime District 10 including the plot of land is located within the exclusive Holland Rise GCB spot. According to news agency launch, the area is reachable using 2 different cul-de-sacs, one at Holland Rise and the other at East Sussex Lane.
” The non commercial enclave gives a calm including carefree vibe, and is extremely demanded by potential home customers,” says Mary Sai, managing director of Capital Markets, Knight Frank Singapore.
Provided the dimension of the area, there is capability for the place to become partitioned into 2 or three GCBs, states Knight Frank. It even indicates that the plot is approximately 3 times more than the least possible land scale of 1,400 sq m (15,064 sq ft) required to be considered a GCB property development.