The 14-story Holland Tower, which has 19 apartments, was finished in 1976

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Tembusu Grand sales gallery

Holland Tower, the freehold condominium in Holland Heights in prime District 10 has announced a tender for collective sales. The property is available for sale with a suggested price of $76 million, as per an announcement from the market agent SRI Capital Market.

Tembusu Grand sales gallery is a perfect home for singles, couples and residents with families who want an oasis away from the fast-paced city.

“We anticipate a lot of interest from developers because of the appealing cost and the price of land on a psf per plot ratio basis [ppr]. With a base price that is $76m, the price of land will be around $1,739 per sq ft ppr.” states Low Choon Sin, managing partner of SRI Capital Market.

Holland Tower was completed in 1976 . The residential development consists of an apartment block of 14 floors with 19 units, that vary between 1,862 and 2,949 sq feet. The property has an built-up surface of 43,691 sq feet that amounts to an average gross ratio of 2.0. The site is part of Holland Park Good Class Bungalow (GCB) Area. Holland Park Good Class Bungalow (GCB) Zone.

Furthermore, the property is located on an elevated site located at the top that runs along the Holland Heights road. Therefore, the present property offers a unobstructed view of the estates that lie along Holland Park. Schools close to in the area include Nanyang Primary School, St Margaret’s Secondary School and Chinese Anglo International School.

“The Holland area in District 10 has seen a surge in demand over the last seven quarters, with more than eighty% of the newly constructed private residential units being sold. Due to the decreasing number of new residential units following the previous En bloc cycle that took place between 2017 and 2018, the auction [tendercan be a timely opportunity to allow developers for replenishing their landbanks,” says Low. (See possible condos by using the an en block calculator)

The site provides a range of possibilities for redevelopment “such as redeveloping into one-block of luxury condominiums for multi-generational families or redeveloping into a High Class Bungalow” He says.

The tender for the collective sale closes the 14th of March.