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One Holland Village Residences achieves 80% take-up rate

/ EdgeProp Singapore |

January 11, 2023 5:12 PM SGT

237 of the 296 units at One Holland Village Residences have been sold (Picture: Samuel Isaac Chua/The Edge Singapore)

SINGAPORE (EDGEPROP) - One Holland Village Residences, a 296-unit condominium along Holland Village Way, has seen 80% or 237 of its units sold, according to a Jan 11 press release by Far East Organization.

The 99-year leasehold project is part of the One Holland Village mixed-use development by Far East Organization and joint-venture partners Sekisui House and Sino Group. The development includes residential, serviced apartment and office components, as well as community spaces.

“We are heartened to kick 2023 off on the back of positive sales at One Holland Village Residences,” says Michelle Tang, deputy director, residential sales, at Far East Organization. “Our buyers continue to be drawn towards One Holland Village’s central locality, attractive and unique proposition, and good use of thoughtfully curated spaces that are purposefully designed for community and recreational use.”

Over 90% of the buyers for One Holland Village Residences are locals, with the majority comprising residents in Districts 10 and 11. In terms of foreign buyers, Americans make up the largest portion, followed by Indonesian and Chinese buyers. According to Far East Organization, 35% of the buyers purchased a unit for investment purposes.

One Holland Village Residences was launched for sale in 2019. It comprises three offerings: Sereen, Leven and Quincy Private Residences. Sereen is a 34-storey tower with 248 apartments made up of one- to three-bedders measuring 484 to 1,098 sq ft. According to Far East Organization, Sereen has achieved an average price of $2,649 psf, with 94% of the one-bedders already sold.

Leven is a collection of 21 apartments spread across low-rise three-storey blocks. Units are all two-bedders between 807 and 1,087 sq ft. Thus far, 19 units at Leven have been sold at an average price of $2,909 psf.

Meanwhile, Quincy Private Residences features 27 luxury apartments made up of three- and four-bedroom units between 1,238 and 3,358 sq ft. There is also a sole penthouse of 3,488 sq ft. To date, the penthouse and all four-bedroom units have been sold, including a four-bedder on the 27th floor that fetched $7.15 million ($3,426 psf) in August 2022, marking a record high for the development in terms of psf price. Units sold at Quincy Private Residences achieved an average price of $3,233 psf.

In its media release, Far East Organization also highlighted that One Holland Village’s retail component – One Holland Village Shops – has achieved an expected occupancy of 82%, based on committed leases and leases pending final execution. A total of 44 tenants have been secured for the three-storey mall. The secured leases translate to a net lettable area of about 95,373 sq ft.

Confirmed tenants with new brand concepts include Lil’ Kinki by Kinki Restaurant & Bar, homegrown traditional Chinese medicine brand Pulse TCM, hipster café Caffeine Xpress and Plain Meredith by Baker's Brew. Anchor tenant CS Fresh will take up approximately 8,000 sq ft of space at the mall.

One Holland Village Shops is slated to open by the end of this year, while One Holland Village Residences is targeted for completion by end-2024.

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