Tag Archives: Holland Road

Bungalow off Holland Road for sale

A good class bungalow (GCB) along East Sussex Lane off Holland Road has been put up for sale through expression of interest (EOI), revealed marketing agent Knight Frank Singapore.

Currently, a two-storey detached house (pictured) sits on the 27,181 sq ft site. Built in the 1950s, the property could be redeveloped into a luxurious bungalow.

It is located within proximity to the Holland Village and Buona Vista MRT stations, Orchard Road shopping belt and established schools.

“The guide price for the GCB is approximately $1,200 psf. This is an estate sale and the vendors are open to considering all price offers put forth by prospective purchasers during the Expression of Interest exercise,” said Mary Sai, Executive Director, Investment & Capital Markets.

Last month, a GCB at Belmont Road was moved for $44.18 million or $1,420 psf, while another bungalow at Bing Tong Park changed hands at $30 million or $1,400 psf.

According to Knight Frank, the demand for GCBs has held steady despite the slew of cooling measures imposed on the residential market.

“In May this year, a GCB at Bishopsgate was sold at a record price of $2,190 psf, surpassing the previous GCB record price of $2,110 psf set in October 2012.

“Another GCB at Ridout Road was transacted at about $91.68 million in May this year, achieving the highest transacted price for a GCB on an absolute quantum price basis. The outlook for GCBs remains positive with transactions of such properties still active and price growth only moderating,” added the consultancy.

The EOI exercise will close on 30 July 2015.

Image source: Knight Frank Singapore.

Govt to release 19 land sites yielding 8,770 homes

To meet the demand for private residential units and commercial space over the next few years, six confirmed and 13 reserve list sites will be released in the Government Land Sales (GLS) Programme for the first half of 2015, according to the Urban Redevelopment Authority (URA).

These sites will generate up to 8,770 homes, including 1,010 executive condominium (EC) units.

Around 3,020 homes can be generated from the confirmed list, including one EC site of 490 units. The plots are located in the Outside Central Region (OCR) and Rest of Central Region (RCR).

The reserve list consists of nine private residential sites (including one EC site), one commercial and residential site, two commercial sites and one White site. Altogether, they could yield some 5,750 residences and 265,000 sqm gross floor area of commercial space.

Located at Holland Road, the commercial and residential site is the first one to be launched under the Holland Village Extension plan unveiled in the Master Plan 2014. According to URA, a Concept and Price Revenue Tender will be adopted for this site. This is to ensure its future development enhances the unique charm and distinctive urban village character of the Holland Village Identity Node.

The other two commercial plots are at Woodlands Square in Woodlands Regional Centre and at Beach Road.

The site in Woodlands will sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city. It is also in line with the government’s objective of decentralising employment centres to bring job opportunities closer to homes.

The White site at Marina View is slated for mainly office development. Together with the Beach Road and Woodlands Square sites, it will allow developers to build more office space if there is demand.