_Good Class Bungalow land site at Holland Rise offered for S$106m
Knight Frank Singapore is pleased to offer a land site at the prestigious Holland Rise GCB area for S$106 million. It measures approximately 52,992 square feet (sqft) or 4,923.1 square metres (sqm), which is more than triple the minimum land size of 1,400 sqm criterion, for a piece of land to be considered for a GCB development. There is potential for the land site to be subdivided into two to three GCBs, and its indicative price works out to approximately to S$2,000 per square foot (psf).
Located in prime District 10, the land is situated off Holland Road and a short distance from Holland Village Mass Rapid Transit station. It enjoys excellent connectivity and is accessible via two cul-de-sacs, one at Holland Rise and another at East Sussex Lane. Among the numerous urban and lifestyle amenities that serve the neighbourhood are One Holland Village, Holland Drive Market & Food Centre, Chip Bee Gardens and an eclectic mix of modern art galleries and local cafes situated along Lorong Mambong. The Holland Rise GCB site is also a 10 to 15 minutes’ drive to Orchard Road and the central business district.
Ms Mary Sai, Executive Director of Capital Markets, Knight Frank Singapore, shared, “The residential enclave offers a serene and easygoing vibe, and is highly sought after by prospective home buyers. Bigger is indeed better – prospective purchasers are inundated with multiple options in terms of design and will be able to build a stunning home of their dreams.”
Sai added, “Within the area, the most recent transaction was a GCB at 54 Cornwall Gardens which sold at $47.0 million, reflecting about S$2,162 psf on a land area of 21,740 sq ft. Additionally, there was another transaction for a GCB at 32 White House Park which sold for S$45.5 million, or approximately $3,017 psf on a land area of 15,081 sq ft. Given the limited availability of prime landed homes, especially a huge one like this, coupled with healthy demand from foreign ultra-high-net-worth families that are willing to pay rental premiums for such properties, we expect keen interest for this listing.”
Photo of subject site
Source: OneMap, Knight Frank
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