Good Class Bungalow land up for sale


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28/03/2014

Three adjoining plots of good class bungalow (GCB) land are being put up for sale by Cushman & Wakefield. The sites are located along Holland Rise and East Sussex Lane. They are within walking distance to Holland Village MRT Station. The three regular-shaped plots of land has a total land area of 52,922 sq ft. The size of land for plot 1, 2 and 3 is 17,422 sq ft, 18,176 sq ft and 17,393 sq ft respectively. The plots of land can be sold altogether or individually with an indicative price of about $1,500 per square feet (psf). The expression of interest for the land will end at 3pm on 24 April.

The sales recorded for GCB market range from around $1,401 psf to $1,976 psf for land  at Old Holland Road and Cluny Hill respectively. A spokesperson from Cushman & Wakefield noted that it is a rare opportunities to acquire large GCB land in Singapore where land is scare. GCBs has proven to be a highly resilient property class and the current slowdown in the market has only moderated the price growth.
Separately, a block of freehold detached shophouse located at 32, 34 and 34A along Sultan Gate were also put up for sale by Cushman & Wakefield and Historical Land at an indicative price of around $28 million. The block of shophouse is bound by a public carpark and a side lane. It is under Kampong Glam conservation area with a land area of about 7,401 sq ft and is zoned for commercial use. The shophouse is currently occupied by a tenant in the food and beverage business which the lease will expire in September 2015 .
The spokesperson said that conservation commercial shophouses is an attractive investment given its limited supply. Similarly, it is also a very resilient property segment. The expression of interest for the shophouse will close a day before the GCB sites at 3pm on April 23.
Source copied from: http://www.iproperty.com.sg/news/8480/Good-Class-Bungalow-land-up-for-sale