News: Holland Rise GCB site for sale for $68mil

Jan 7, 2021

The freehold vacant plots occupy a combined land area of 52,992 sq ft. Buyers have the option to acquire a single plot or multiple plots. Image: Cushman & Wakefield

A Holland Rise Good Class Bungalow (GCB) site comprising three adjoining plots of land is up for sale via expression of interest (EOI) with an indicative price of $68 million, revealed exclusive marketing agent Cushman & Wakefield.

The freehold vacant plots are located within the Holland Rise GCB Area, occupying a combined land area of 52,992 sq ft.

Cushman & Wakefield Executive Director of Capital Markets Shaun Poh noted that buyers have the option to acquire a single plot or multiple plots.

Accessible via two cul-de-sacs – one at East Sussex Lane and another at Holland Rise, the property is near Holland Village MRT station as well as the various F&B offerings and lifestyle amenities within the Holland Village area.

Recommended article: How Does Distance to MRT Affect Property Prices in Singapore?

The property is also a 10 to 15 minutes’ drive to the Central Business District and Orchard Road.

“Opportunities to acquire large-sized adjoining GCB land plots such as this are extremely rare,” said Poh. 

Despite the pandemic, the GCB market registered fairly active sales, with a GCB at 1 Chatsworth Park transacted for $44 million ($2,082 psf on land) last month.

“Closer to the property at nearby Oei Tiong Ham Park, 17A Leedon Park was transacted last September at $73 million ($1,643 psf on land). These transactions are testament to GCBs being a highly resilient and attractive property class,” added Poh.

The EOI exercise for the Holland Rise GCB site closes on 9 February.

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