Large Holland Rise GCB plot on the market for $106 mil
Given the measurements of the land, there is potential for the location to become split into 2 or three GCBs, claims Knight Frank. It even indicates that the plot is around three times greater than the least possible property size of 1,400 sq m (15,064 sq ft) needed to be viewed a GCB project.
“Given the minimal accessibility of top landed homes, especially a big one similar to this, paired with strong need from international ultra-high-net-worth families that are eager to spend rental costs for this type of houses, we anticipate eager interest for this advertisement,” states Sai.
A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has already been offered for $106 million. This works out to a land price of $2,000 psf, according to a news release by Knight Frank Singapore, the sole marketing broker for this sale.
” The residence enclave gives a peaceful including carefree atmosphere, furthermore is very sought after by prospective home buyers,” claims Mary Sai, executive supervisor of Capital Markets, Knight Frank Singapore.
Based upon research by Knight Frank, recent GCB transactions in the vicinity include the sale 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 reselled for $45.5 million, or $3,017 psf on the land area.
The area is found off Holland Street in top District 10 including the plot of property exists within the premium Holland Rise GCB area. According to news agency launch, the site is accessible via two separate dead ends, one at Holland Rise also the other at East Sussex Lane.
The location is next to Holland Village MRT Station on the Circle Line. This implies it is alongside the F&B and even lifestyle services in the Holland Village place. This features the upcoming One Holland Village mixed-use project, Holland Drive Market & Food Centre, Chip Bee Gardens, and a range of cafes throughout Lorong Mambong.
Sai includes: “Bigger is absolutely better– potential consumers are swamped with multiple alternatives in regards to layout as well as will have the ability to construct a magnificent home of their aspirations.”