The 48-unit Hollandia has been put up for collective sale by tender on Jan 17 for $163.15 million. The price translates to a land rate of $1,515 psf ppr, according to sole marketing agent Savills Singapore.

Built in the 1980s, the development in prime District 10 sits on a 53,505 sq ft, freehold site at the junction of Holland Road and Queensway. The site is zoned for Residential use under the 2014 Master Plan, and has a gross plot ratio of 1.6 with a 12-storey height limit. The site can therefore be redeveloped into a new development with GFA of 107,688 sq ft. Owing to the high development baseline, no development charge is payable even for the additional 10% GFA for balconies, says Savills.

The tender for Hollandia will close on Feb 28.