{"id":81668,"date":"2018-03-02T14:58:37","date_gmt":"2018-03-02T07:58:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hollandia-in-district-10-sold-for-183-38m\/"},"modified":"2018-03-02T15:03:00","modified_gmt":"2018-03-02T08:03:00","slug":"hollandia-in-district-10-sold-for-183-38m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hollandia-in-district-10-sold-for-183-38m\/","title":{"rendered":"Hollandia in District 10 sold for $183.38m"},"content":{"rendered":"


\nThe owners could receive gross sale proceeds ranging from $3.3 million to $4.2 million. (Photo: Savills Singapore)
\nThe 48-unit Hollandia development at the junction of Holland Road and Queensway has been sold through a collective sale to FEC Properties for $183.38 million, or a unit land rate of about $1,703 psf per plot ratio (psf ppr).
\nFEC Properties is an indirect wholly-owned subsidiary of Hong Kong-listed Far East Consortium International.
\nThe sale price is about 11 percent higher than the reserve price of $163.15 million ($1,515 psf ppr) when the property was launched for sale in January this year.
\nThe owners are expected to receive between $3.3 million to $4.2 million from the sale, said marketing agent Savills. This works out to over $2,000 psf on the strata area. \u00a0\u00a0 \u00a0
\nBuilt in the mid-1980s, the freehold project sits on a 53,505 sq ft site. Under the 2014 Master Plan, the site is zoned for residential use with a gross plot ratio of 1.6.
\nHollandia is located close to Holland Village MRT station as well as eateries at Dempsey Hill and Holland Village.
\nSubject to planning approvals from the relevant authorities, the site may be redeveloped into a 12-storey condo with an allowable gross floor area (GFA) of 107,688 sq ft. No development charge is payable, including the additional 10 percent GFA for balconies.
\n\u201cUndoubtedly, this freehold plot will benefit from the successful tender of the highly attractive mixed-use Government Land Sale site located at the heart of Holland Village,\u201d said Suzie Mok, senior director of investment sales at Savills Singapore.
\nShe added: \u201cThe last major transacted collective sale site in the Holland vicinity was in December 2011 for Henry Park Apartments at Holland Grove. FEC Properties\u2019 acquisition of Hollandia would therefore represent the first significant collective sales transaction in the area.\u201d
\nCheck out more properties for sale in District 10.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Hollandia in District 10 sold for 3.38m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owners could receive gross sale proceeds ranging from $3.3 million to $4.2 million. (Photo:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-81668","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-lfe","jetpack-related-posts":[{"id":77008,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hollandia-up-for-collective-sale\/","url_meta":{"origin":81668,"position":0},"title":"Hollandia up for collective sale","date":"January 17, 2018","format":false,"excerpt":"\r The collective sale of Hollandia has an indicative price of $163.15 million ($1,515 psf ppr). (Photo: Savills) The 48-unit Hollandia residential development located at the junction of Holland Road and Queensway in District 10 has been launched for collective sale, marketing agent Savills Singapore said on Wednesday (17 January).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87006,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":81668,"position":1},"title":"Two freehold properties launched for en bloc sale","date":"May 3, 2018","format":false,"excerpt":"\r Holland Tower in District 10 was put up for sale with a reserve price of $65 million. (Photo: SRI) More homeowners are trying their luck at collective sales, with two freehold developments launched at a combined price of $103 million. The Holland Tower condominium in District 10 was put\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","url_meta":{"origin":81668,"position":2},"title":"Olina Lodge, Verdun House launched for collective sale","date":"March 22, 2018","format":false,"excerpt":"\r Completed in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo: SRI) The collective sales fever continues to heat up with the recent launch of two freehold developments \u2013 Olina Lodge and Verdun House, revealed marketing agent Singapore Realtors Inc (SRI). 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