HOLLAND Hill Lodge, a freehold residential development site at 5 Holland Hill, has been put up for collective sale via a public tender exercise.
Its land price of S$25.8 million works out to be S$1,741 per square foot per plot ratio, inclusive of the additional bonus balcony space, said exclusive marketing agent SRI Capital Market on Tuesday (Oct 12).
The property has a site area of 9,033 square feet and is zoned for residential use with a plot ratio of 1.6 under the Urban Redevelopment Authority’s Master Plan 2019.
The low-rise apartment complex consists of 11 residential units. Under the latest guidelines on maximum allowable dwelling units, the new development on site can be redeveloped to up to 15 units.
Located in prime district 10, the property is near the Singapore Botanical Gardens and between the Farrer Road and Holland Village MRT stations. It is also near Dempsey Hill, Holland Village and schools such as Nanyang Primary School, St Margaret’s Secondary School and Anglo-Chinese International School.
SRI Capital Market’s managing partner Low Choon Sin said he expects keen interest from boutique to mid-sized real-estate developers and investors.
source: The Business Times