Savills : En Bloc Sale of Hollandia

Savills Singapore is pleased to announce the launch for sale by tender, the collective sale of Hollandia.

Built in the mid 1980s, the 48-unit condominium in District 10, occupies a land of 4,970.8 sq m (or 53,505 sq ft) at the junction of Holland Road and Queensway. Under the 2014 Master Plan, the site is zoned for residential use with a gross plot ratio of 1.6. Subject to approvals from the relevant authorities, the site may be developed up to 12-storeys with an allowable gross floor area of 10,004.56 sq m (or 107,688 sq ft). Owing to the high development baseline, no development charge is payable even for the additional 10% gross floor area for balconies.

The development is located in an established residential enclave surrounded by popular condominiums such as Parvis, Holland Residences, Holland Hill Park, bungalows and other private properties. The Holland Village MRT station is approximately 700 m away and the Ayer Rajah and Pan Island Expressways are readily accessible.

Hollandia is nestled within the established Holland residential neighbourhood, an all time favourite with the expatriates' community given its close proximity to trendy F&B chill-outs at Dempsey Hill and Holland Village. Conveniently located, it is a short drive from the prime Orchard Road shopping belt and the Central Business District and also minutes away from the UNESCO crowned Botanic Gardens.

Based on the allowable Gross Floor Area of 10,004.56 sq m (or equivalent gross plot ratio of 2.013), the en bloc sale of Hollandia has an indicative price of S$163.15 million which translates to a land rate of S$1,515 psf ppr.

'Hollandia offers developers an excellent opportunity to acquire a freehold site with the prestigious Holland address at an attractive price of less than $200m. This is a 'sweet spot' for mid-sized developers who are building up their residential land banks in expectation of the market uptrend' said Suzie Mok, senior director of investment sales at Savills Singapore who is handling the sale.

She also added, 'It has been a while since a freehold redevelopment plot has been put up for sale in the Holland area. Hollandia will draw interest as it is attractively positioned near Holland V. The widely anticipated sale of the mixed-use Government Land Sale Parcel right smack in the heart of Holland V and its forthcoming rejuvenation and transformation will be a key catalyst and potential booster of real estate values in the vicinity.'

The tender for Hollandia will close at 3pm on 28 February 2018.