Located at 5 Holland Hill, the freehold project, Holland Hill Lodge, occupies a 9,033 sq ft site zoned for Residential use.
Holland Hill Lodge, a freehold residential development at 5 Holland Hill, has been put up for en bloc sale via public tender, revealed exclusive marketing agent SRI Capital Market.
The development carries a land price of $25.8 million, which translates to $1,741 per square foot per plot ratio, inclusive of additional bonus balcony space.
It occupies a 9,033 sq ft site zoned for Residential use under the 2019 Master Plan with a plot ratio of 1.6.
The low-rise development consists of 11 residential units. Under the latest guidelines on maximum allowable dwelling units, the new development on site could be redeveloped up to 15 housing units.
The prime District 10 property is located between the Holland Village and Farrer Road MRT stations, near the Singapore Botanic Gardens. Nearby schools include Nanyang Primary School, Anglo-Chinese International School and St. Margaret’s Secondary School.
Low Choon Sin, Managing Partner of SRI Capital Market, expects the development to receive “keen interest from boutique to mid-size real estate developers and investors”.
“Over the past 15 months, more than 70% of the collective sale sites sold have transacted below $100 million. Furthermore, the primary market for new residential sales within the immediate vicinity of Holland micro-market have shown promising result in both pricing and sales volume,” he said.
He noted that the site also “serves as an ideal opportunity and alternative to ultra-high net worth individuals that allow them to explore redevelopment option into a single block of luxurious apartment to house multiple-generation families or even for single-family living”.
The tender for Holland Hill Lodge closes on 15 November.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: email@example.com.