Large Holland Rise GCB plot on the market for $106 mil
Based on research study by Knight Frank, current GCB deals in the area consist of the purchase of 54 Cornwall Gardens for $47 million, reflecting a land fee of $2,162 psf. Meanwhile, the GCB at 32 White House Park was reselled for $45.5 million, or $3,017 psf on the land area.
Sai includes: “Bigger is absolutely much better– prospective purchasers are flooded with several choices in terms of design as well as will be able to develop a spectacular house of their desires.”
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has recently been put up for sale for $106 million. This turns out to a land rate of $2,000 psf, according to a news release by Knight Frank Singapore, the sole advertising broker for this sale.
“Given the limited accessibility of prime landed residences, especially a huge one like this, combined with healthy demand from international ultra-high-net-worth families that are ready to pay rental fees for such houses, we anticipate eager attraction for this advertisement,” states Sai.
” The residential surround provides a serene plus easy-going feel, and also is extremely sought after by potential home purchasers,” claims Mary Sai, managing manager of Capital Markets, Knight Frank Singapore.
Provided the dimension of the area, there is possibility for the location to be split right into 2 or 3 GCBs, says Knight Frank. It also indicates that the plot is around 3 times greater than the minimal land scale of 1,400 sq m (15,064 sq ft) called for to be regarded a GCB development.
The location is next to Holland Village MRT Terminal on the Circle Line. This means it is near the F&B plus lifestyle features in the Holland Village place. This includes the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, plus a host of cafes throughout Lorong Mambong.
The area is located off Holland Road in prime District 10 and the plot of property is located within the special Holland Rise GCB region. According to news agency introduction, the area is reachable via two separate dead ends, one at Holland Rise and the other at East Sussex Lane.
