Two adjoining freehold sites on Gentle Road for sale from $30 mil

The Holland Drive Condo offers ultimate convenience for its residents, with a spacious communal pool, lush gardens, and a 24-hour concierge service. The condo also features a range of eco-friendly features and designs, designed to minimize energy usage and promote sustainability. The complex various facilities, such as a gym, library, and events space, make for an ideal lifestyle for residents. With its close proximity to the city’s numerous shopping malls, restaurants, and entertainment options, Holland Drive Condo is the perfect place for those looking for a luxuriously modern and convenient lifestyle.

The two freehold residential sites at 43 and 45 Gentle Road located in the Chancery landed housing enclave in District 11 of Singapore are up for estate sale by tender. Knight Frank Singapore released a press statement announcing the tender.

The plots combined have a total land area of 15,923 sq ft, and are zoned for residential and 2-storey mixed-landed use. Currently, two single-storey semi-detached houses built in the 1950s are present in these sites. Along with the regular site configuration, a combined frontage of 36m is included in these plots.

The vendors of the properties have placed the expected price of offers to be above $30 million, which works out to $1,884 psf on the land area. Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore proposes boutique developers to consider redeveloping these sites into bungalows, semi-detached or terrace houses, subject to approval from authorities. Not only this, but the properties are also attractive for affluent homebuyers and extended families looking to build a new home in the exclusive Chancery neighbourhood.

The tender for the two sites will come to a close on Nov 16 at 3pm. Despite the economic situation, propelled by an elevated interest rate environment, residential landed sales volume in District 11 registered the strongest showing in 3Q2023 with 25 caveats lodged in the quarter, up from nine in 2Q2023 and 17 in 1Q2023.

Economic headwinds and higher interest rates have not deterred individuals from the exclusivity of these niche landed homes, resulting in its increasing demand. In conclusion, these two sites in Gentle Road possess immense potential for developers and families seeking to build a home in the serene Chancery neighbourhood.