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

A 52,992 sq feet Good Class Bungalow (GCB) plot on Holland Rise has already been sold for $106 million. This works out to a land price of $2,000 psf, according to an announcement by Knight Frank Singapore, the single promotion broker for this sale.

Provided the dimension of the land, there is possibility for the site to become subdivided into 2 or 3 GCBs, says Knight Frank. It even indicates that the plot is approximately 3 times more than the minimum real estate size of 1,400 sq m (15,064 sq ft) required to be considered a GCB property development.

Sai adds: “Larger is indeed better– would-be consumers are flooded with numerous options in terms of style and will certainly manage to construct a sensational home of their dreams.”

Based upon research study by Knight Frank, current GCB deals in the surroundings consist of the purchase of 54 Cornwall Gardens for $47 million, mirroring a land price of $2,162 psf. At the same time, the GCB at 32 White House Park was offered for $45.5 million, or $3,017 psf on the property area.

Sceneca Residences floor plan

” The residential surround offers a peaceful and easy-going atmosphere, and is extremely demanded by potential residence purchasers,” states Mary Sai, managing manager of Capital Markets, Knight Frank Singapore.

The site is located off Holland Street in prime District 10 and the plot of land lies throughout the special Holland Rise GCB area. According to news agency launch, the site is accessible by means of 2 various dead ends, one at Holland Rise and the other in East Sussex Lane.

“Given the limited supply of prime landed houses, especially a big one similar to this, paired with healthy interest from foreign ultra-high-net-worth family groups that are ready to spend rental costs for such houses, we assume keen attraction for this list,” states Sai.

The spot is near to Holland Village MRT Station on the Circle Line. This indicates it is beside the F&B and lifestyle facilities in the Holland Village place. This includes the upcoming One Holland Village mixed-use property, Holland Drive Market & Food Centre, Chip Bee Gardens, also a host of cafes along Lorong Mambong.

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