Toho Mansion is located on an elevated site that overlooks a good class bungalow area.
Homegrown developer Koh Brothers has won the en bloc tender for Toho Mansion at Holland Road, after it offered $120.4 million for the site.
Featuring two four-storey residential blocks with 32 apartments, the freehold site has an area of 47,660 sq ft and a plot ratio of 1.4. Including a 10 percent bonus balcony area, the site could be redeveloped to a potential gross floor area of 73,396 sq ft.
The site is 200m away from Holland Village MRT station and just across the street from Holland Village. It is also near an upcoming Government Land Sale site which could add 145,313 sq ft of commercial space, further enhancing the amenities within the vicinity.
“As a lifestyle-themed developer, we look forward to create a fresh concept that will offer a seamless and integrated experience with the great convenience and connectivity in this up-and-coming neighbourhood, which has been earmarked by the government for a highly-anticipated makeover and expansion,” said Koh Brothers managing director and group CEO Francis Koh.
“Alongside our project in the prime Gangnam district in Seoul, South Korea, and a recently-acquired site in Johor, Malaysia, this will mark the third site to be added to our land bank, as we continue to prudently seek attractive development sites at choice locations.”
Koh Brothers’ maiden project in South Korea is expected to be launched in the first half of 2018.
The mixed-use development, in which the company owns a 45 percent stake, will have two 19-storey towers and five basement floors. The proposed project will consist of 293 residential units, including SOHO units as well as 60,590 sq ft of retail space.