Holland Tower sale seen to draw prominent property buyers

Jones Lang LaSalle is marketing the Collective Sale of  the property and is offering interested parties a rare freehold residential redevelopment opportunity in the highly sought after District 10.

The 21,879 sq ft site, zoned for ‘residential’ use, sits within the Holland Park Good Class Bungalow Area.

The Urban Redevelopment Authority (URA) has in principle indicated that the new development can maintain the existing height and have a Gross Floor Area of about 43,691 sq ft. No development charge is payable.

Holland Tower, located at 10 Holland Heights is a single 14-storey tower development consisting of 19 units. Situated on elevated ground a few storeys above road level, the site presents panoramic views of the city skyline and lush surroundings.

The site is conveniently located in the Holland Park residential enclave and is well served by arterial roads including Farrer Road, Queensway and Holland Road; and major expressways including the Pan-Island Express Way (PIE) and Ayer Rajah Expressway (AYE). Vehicular access to the development is via Holland Heights.

Stella Hoh, National Director and Head of Investments at Jones Lang LaSalle, said, “This elevated freehold site is expected to draw strong interest due to its locality, proximity to amenities and the potential to be redeveloped into a boutique development offering exclusivity in a Good Class Bungalow area and offering unblocked views of lush greenery as the site is totally unblocked."

“Despite the property measures that were introduced recently, we believe that there is still a pool of genuine buyers/ investors’ who are looking for own stay/ long term investments. Thus, this site will still draw interest from small and mid sized developers who are confident of the serenity and exclusivity of the area," Hoh added.