[UPDATE] Wing Tai Holdings wins tender for freehold Holland Tower site for $76.3 mil
By Felicia Tan
/ The Edge Singapore |
The 19-unit Holland Tower was completed in 1976 and comprises a 14-storey apartment block. (Picture: SRI)
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SINGAPORE (EDGEPROP) - Wincove Investment, the wholly-owned subsidiary of Wing Tai Holdings, has won the tender for the collective purchase of the freehold Holland Tower site for $76.3 million or $1,746 per sq ft per plot ratio (psf ppr). The deal was brokered by SRI Capital Market, with CTLC Law Corporation as the appointed lawyer acting for the owners of Holland Tower.
Holland Tower launched its collective sale tender on Feb 7 and was listed with a guide price of $76 million. The tender closed on March 14. “This mark as the first residential en bloc site sold in District 10 since 4Q2021, which is timely for the market to replenish the inventories as the take-up rate for new homes within the vicinity has been going strong," comments Low Choon Sin, managing partner of SRI Capital Market. (See potential condos with en bloc calculator)
Hyll on Holland and Leedon Green are recent launches within 1KM of Holland Tower: EdgeProp LandLens
The site area is 2,032.6 sqm (21,878.72 sq ft) with a gross floor area (GFA) of 4,059.05 sqm.
The elevated site is located at 10 Holland Heights in prime District 10 and around the exclusive Holland Park good-class bungalow (GCB) area.
“We plan to leverage its superior location attributes to develop a luxurious and iconic residential development with stunning unblocked views of the lush greenery in Holland Park as well as the Singapore city skyline,” says Tan Hwee Bin, executive director of Wing Tai Holdings.
The site is located within a five-minute drive or a 15-minute walk to Dempsey Hill and Holland Village. It is also within close proximity to the Singapore Botanic Gardens and the Orchard Road shopping belt.
The site is also near the Ayer Rajah Expressway (AYE), the Pan Island Expressway (PIE) as well as good schools such as ACS International and Nanyang Primary School.
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