Developers can turn it into a residential development of 166 units.
The public tender of The Estoril, a residential site in Holland Road, has been launched with a reserve price of $220m or $1,625 psf ppr. According to marketing agent CBRE, the site could potentially be redeveloped from its current 44 units into a residential development of 166 units.
The site area is approximately 84,600 sqft and enjoys a prominent frontage spanning approximately 100 metres along Holland Road and a depth of approximately 80 meters.
It is zoned residential and has a height control of up to 12 storeys. The site comes with a plot ratio of 1.6, and the maximum allowable gross floor area is approximately 148,896 sqft, including the 10% bonus area on balconies. No development charge is payable.
The site is located within the prime Holland enclave and is well served by major roads and expressways such as Holland Road, Farrer Road, Queensway, the Pan Island Expressway and Ayer Rajah Expressway. It is also near to schools and international institutions such as Nanyang Primary School, Anglo Chinese International School, St Margaret’s Secondary School and Hwa Chong International School.
The site has the view of Holland Hill, and yet is a stone’s throw on foot to the bustling Holland Village and Dempsey Hill, which offer a wide array of lifestyle amenities, and multiple dining options. The Holland Village MRT Station is a 700m walk away. Residents in the area are also well served by various amenities in Holland Village and Dempsey Hill.
CBRE Capital Markets director Sammi Lim noted that the spotlight on the current en bloc cycle seems to have started to shift to the prime districts. “These plots offer developers a premium in terms of location attributes, good connectivity to major transport nodes and accessibility to well-known schools and prime retail Orchard Road, typically with freehold tenure. The recent sale of Cairnhill Mansion, the first residential development site sold in the prime district in the current cycle, will kick-start more prime en bloc activity in the coming months.”
The public tender for The Estoril will close at 3 p.m. on 3 April 2018.
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