Toho Mansion in Holland Village Enbloc Sold for $120.4m: Toho Mansion a freehold site in Holland Village has been En-Bloc Sold to KBD Ventures, a subsidiary of construction and property developer Koh Brothers for $120.4m or around S$1,805 per sq ft per plot ratio.
The freehold site which currently sits on an area of 4,427.8 sqm and consists of two four-storey residential blocks accommodating a total of 32 apartments. With a plot ratio of 1.4, it can be redeveloped into a potential gross floor area of 6,818.7 sq m, including a 10 per cent bonus balcony area. It was noted that no development charge was payable.
Given its coveted freehold tenure, single ownership, prestigious Holland Road address, next to Good Class Bungalow housing estate and is in close proximity to Holland Village Shopping Centre and Chip Bee Gardens, and only 200m away from Holland Village MRT Station, it is expected that there will be interests from prospective buyers.
It was also noted that Toho Mansion is near to an upcoming Government Land Sale site which could add 145,313 sq ft of commercial space, further enhancing the amenities within the vicinity and well connected to major hubs such as Buona Vista Sub-Regional Centre, One-North, National University of Singapore and the Orchard Road shopping belt.
Given the land price of S$1,805 per sq ft per plot ratio, the estimated break even price will be around S$2300 -S$2,400 and we can expect the selling prices to be at least close to the S$3,000 psf.
Some of the other High Profile Prime District Enbloc till date:
- S$1,722 psf ppr Handy Road GLS
- S$1,840 psf ppr Crystal Tower
- S$1,960 psf ppr Royalville
- S$1,804 psf ppr Toho Mansion
You can see that the future prices can only go one direction, make use of this opportunity to buy existing property in the market at a discount from the future prices.
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