2 boutique sites each with an existing development of less than 20 units have just gone on the collective sale market.
Margate road and Holland Village sites for sale
Margate Point on Margate road and Holland Tower have just come on the en bloc market. The former consists of 15 apartment units and the latter, 19. Both projects are reasonably priced, according to property players, and at prices palatable to most developers.
Margate Point is situated near Meyer road and Mountbatten road. It has a 12,800 sq ft land area and an allowable plot ratio of 2.1 14 out of 15 unit owners have already given their consent for the sale.
The minimum expected price for this site is $38 million. The site could potentially yield 35 new apartment units of an average 70 sq m each.
Both sites offer panoramic views
The Holland Tower site also offers delightful views, this time of the prime district 10. This site is almost twice the size of the Margate road one, at 21,871 sq ft. It has a reserve price of $65 million which works out to approximately $1,489 psf ppr. It has a maxim allowable built-up area of 43,650 sq ft.
The Holland Village area seems to be experiencing a course of rejuvenation with a new MRT station and quite a few en bloc sales. Some of these include Olina Lodge at $1,712 psf ppr, Tulip Garden for $1,790 psf ppr and Hollandia at $1,703 psf ppr. It is situated in an area zoned for good class bungalows but developers may choose to develop the land otherwise.