Large Holland Rise GCB plot on the market for $106 mil
Granted the measurements of the area, there is capability for the location to become split into 2 or three GCBs, claims Knight Frank. It also mentions that the plot is approximately 3 times beyond the least possible land size of 1,400 sq m (15,064 sq ft) required to be considered a GCB development.
Based on research by Knight Frank, current GCB deals in the vicinity include the purchase of 54 Cornwall Gardens for $47 million, reflecting a land rate 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 property area.
” The non commercial surround provides a tranquil and carefree feel, and is highly searched for by potential house purchasers,” states Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.
Sai incorporates: “Larger is absolutely much better– possible consumers are inundated with several alternatives in regards to layout as well as will be able to construct a magnificent residence of their dreams.”
The spot is next to Holland Village MRT Station on the Circle Line. This suggests it is near the F&B and even lifestyle facilities 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 snack bars throughout Lorong Mambong.
The site is found off Holland Road in prime District 10 and the plot of property lies in just the exclusive Holland Rise GCB region. According to news agency release, the site is reachable via two different dead ends, one at Holland Rise and even the other in East Sussex Lane.
“Given the restricted supply of top landed residences, especially a huge one similar to this, paired with good interest from international ultra-high-net-worth family groups that are eager to pay for rental costs for this kind of properties, we anticipate keen attention for this advertisement,” states Sai.
A 52,992 sq ft Good Class Bungalow (GCB) plot on Holland Rise has already been offered for $106 million. This turns out to a land cost of $2,000 psf, according to an announcement by Knight Frank Singapore, the single marketing broker for this profit.