{"id":86134,"date":"2018-04-23T08:54:16","date_gmt":"2018-04-23T01:54:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-olina-lodge-sold-for-230-9m\/"},"modified":"2018-04-23T09:03:42","modified_gmt":"2018-04-23T02:03:42","slug":"freehold-olina-lodge-sold-for-230-9m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-olina-lodge-sold-for-230-9m\/","title":{"rendered":"Freehold Olina Lodge sold for $230.9m"},"content":{"rendered":"


\nThe sale price is 5.0 percent higher than the owners\u2019 reserve price of $220 million, and works out to a land rate of $1,712 psf ppr. (Photo: SRI)
\nThe freehold Olina Lodge at 15 Holland Hill has been successfully sold for $230.9 million to Peak Opal, a unit of property developer Kheng Leong, said marketing agent Singapore Realtors Inc (SRI) on Friday (20 Apr).
\nThis was the residential project\u2019s third try at an en bloc sale after two previous attempts in 2011 failed.
\nMore: Olina Lodge, Verdun House Launched For Collective Sale
\nThe sale price is 5.0 percent higher than the owners\u2019 reserve price of $220 million, and works out to a land rate of $1,712 psf per plot ratio (psf ppr). No development charge is payable.
\nCompleted in 1990, the 67-unit condo sits on an approximately 84,289 sq ft hilltop site. Apartment sizes range from 1,281 sq ft to 2,766 sq ft.
\nDepending on the size of the units, each owner could receive between $3 million and $5 million.
\nUnder the Master Plan 2014, Olina Lodge is zoned residential with a gross plot ratio of 1.6 and an allowable height of up to 12 storeys.
\nTony Koe, managing director at SRI, said: \u201cDespite a spate of collective sale deals done in the Holland Road area recently and a huge slate of redevelopment sites on the market, the tender for Olina Lodge still managed to attract keen interest from developers due to its excellent locational attributes.\u201d\u00a0
\nThe site is located close to the Holland Village, Commonwealth and Farrer Road MRT stations, as well as commercial amenities in Holland Village and Dempsey Village.
\n\u201cA hilltop enclave plot in prime District 10 is rare and Olina Lodge provides an opportunity for the developer to build an exclusive new development providing a tranquil environment with panoramic views,\u201d noted Andy Gan, head of investment sales of SRI.
\nSRI is also marketing Verdun House, a mixed-use development right next to Mustafa Centre, which has a guide price of about $60 million ($2,100 psf ppr).
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Freehold Olina Lodge sold for 0.9m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The sale price is 5.0 percent higher than the owners\u2019 reserve price of $220 million,...<\/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-86134","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-mpg","jetpack-related-posts":[{"id":83363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","url_meta":{"origin":86134,"position":0},"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). Located at 15 Holland\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":86134,"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":93115,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/st-thomas-lodge-in-district-9-up-for-sale-at-40m\/","url_meta":{"origin":86134,"position":2},"title":"St Thomas Lodge in District 9 up for sale at $40m","date":"July 4, 2018","format":false,"excerpt":"\r The asking price for the apartment block works out to a land rate of $2,293 psf ppr. (Photo: SRI) St Thomas Lodge, a five-unit apartment at 32 St Thomas Walk in District 9, has been put up for sale with a guide price of $40 million, according to marketing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75259,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-more-sites-up-for-collective-sale\/","url_meta":{"origin":86134,"position":3},"title":"Two more sites up for collective sale","date":"December 26, 2017","format":false,"excerpt":"\r Kovan Lodge is a freehold condominium development located at 51A, Kovan Road (S)548135 in District 19. The collective sales market continues to heat up with the launch of two more sites \u2013 the freehold development of Kovan Lodge and 43-unit Ampas Apartments, reported The Straits Times. Nestled on a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vicenta-lodge-to-go-en-bloc-for-33-6m\/","url_meta":{"origin":86134,"position":4},"title":"Vicenta Lodge to go en bloc for $33.6m","date":"February 2, 2018","format":false,"excerpt":"\r Built in 1993, the freehold site is located near Kembangan MRT station. (Photo: Century 21) Vicenta Lodge, a freehold residential development in Lorong Marzuki, will be put up for en bloc sale tomorrow (3 February) with a guide price of $33.6 million. This works out to a land rate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goodluck-garden-sold-to-qingjian-for-610m\/","url_meta":{"origin":86134,"position":5},"title":"Goodluck Garden sold to Qingjian for $610m","date":"March 9, 2018","format":false,"excerpt":"\r The freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank) Goodluck Garden, a 210-unit freehold condominium along Toh Tuck Road, has been sold through a collective sale to Chinese developer Qingjian Group for $610 million, which is about 10 percent above the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86134"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=86134"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86134\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}