Three adjoining plots of Good Class Bungalow (GCB) land along Holland Rise and East Sussex Lane are up for sale through expression of interest (EOI), revealed Cushman & Wakefield.
The vacant plots sit on a regular-shaped site totalling about 52,992 sq ft and are accessible via two cul-de-sacs at Holland Rise and East Sussex Lane.
The plum site is within walking distance to Holland Village and the MRT station, while the city centre is just a 10 to 15 minutes drive away.
Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, said GCBs are a highly resilient property class and even with the current overall market slowdown, price growth for GCBs have only moderated, at best.
“Since the start of the year, sales activities in the GCB market have recorded transactions ranging from $1,401 psf over a land area of 20,344 sq ft for a GCB at Old Holland Road and $1,976 psf over a land area of 15,177 sq ft at Cluny Hill,” he noted.
Given the locality and site attributes, the sales exercise is expected to garner keen interest. The EOI will close on 24 April.
Image: View of the plot from Holland Rise. (Source: Cushman & Wakefield)
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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