An Express of Interest Good Class Bungalsa (EOI) site in Holland Raise, comprising three sections, has been unveiled by the exclusive marketing agent Cushman & Wakefield at an indicative price of $68 millions.
The GCB market reported reasonably active transactions, considering the pandemic and a GCB transacted for $44 million last month in 1 Chatsworth Park ($2,082 psf on land).
The vacant freehold plots occupy a region of 52,992 sq ft within the GCB Holland Raise area.
Cushman & Wakefield Capital Markets Director Shaun Poh observed that purchasers have a single or several parts option to purchase.
It has a broad variety of F&B choices and lifestyles throughout Holland Village, and the property is reachable through two cul-de-sacs: the one at East Sussex Lane and the other at Hollande Raise.
The Central Business District and Orchard Road are a 10-15 minute drive from the house. “There are extremely few opportunities for the acquisition of large adjacent GCB land plots,” Poh said.
17A Leedon Park was transacted at 73 million dollars ($1.643 psf on land) in September last year close to the property in close proximity to Oei Tiong Ham Parks. These transactions are evidence that GCBs are a powerful and desirable class of assets,” Poh said.
The EOI exercise is closed on 9 February for the Holland Raise GCB platform.