Large Holland Rise GCB plot on the market for $106 mil

The site is located off Holland Street in prime District 10 including the plot of land lies within the premium Holland Rise GCB region. According to the press release, the site is convenient by means of two various cul-de-sacs, one at Holland Rise also the other at East Sussex Lane.

Provided the measurements of the land, there is potential for the site to become subdivided into two or three GCBs, states Knight Frank. It also mentions that the plot is about three times more than the minimal real estate size of 1,400 sq m (15,064 sq ft) required to be viewed a GCB development.

” The non commercial surround offers a serene and carefree ambiance, and is very sought after by potential home customers,” states Mary Sai, executive director of Capital Markets, Knight Frank Singapore.

Sai includes: “Bigger is absolutely much better– possible consumers are swamped with numerous alternatives in regards to design as well as will manage to develop a spectacular residence of their desires.”

The spot is close to Holland Village MRT Terminal on the Circle Line. This suggests it is near the F&B plus lifestyle amenities in the Holland Village area. This features the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, and even a host of coffee shops around Lorong Mambong.

Based upon research study by Knight Frank, recent GCB purchases in the district consist of the sale of 54 Cornwall Gardens for $47 million, reflecting a land price of $2,162 psf. On the other hand, the GCB at 32 White House Park was offered for $45.5 million, or $3,017 psf on the land area.

A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has been offered for $106 million. This works out to a land cost of $2,000 psf, according to a press release by Knight Frank Singapore, the sole marketing representative for this sale.

“Given the limited supply of top landed residences, especially a substantial one such as this, combined with strong interest from foreign ultra-high-net-worth family groups that are willing to spend leasing premiums for such residential properties, we anticipate eager interest for this list,” says Sai.

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