Land sale at Parc Komo fetches top bid of $102.2 mil

Wincove Investment, the wholly-owned subsidiary of Wing Tai Holdings, has won a tender to purchase the freehold Holland Tower site in prime District 10 of Singapore for a total of $76.3 million. Spanning an area of 2,032.6 sqm (21,878.72 sq ft) with a gross floor area of 4,059.05 sqm, the elevated site is located at 10 Holland Heights and is within close proximity to the Singapore Botanic Gardens and the Orchard Road shopping belt.

Tan Hwee Bin, executive director of Wing Tai Holdings, said the site was chosen due its superior location attributes, which include stunning unblocked views of the lush greenery in Holland Park and the Singapore city skyline. He added that the plan for the site is to develop a luxurious and iconic residential development.

The site is located within a five-minute drive or a 15-minute walk to Dempsey Hill and Holland Village and is also close to the Ayer Rajah Expressway (AYE), the Pan Island Expressway (PIE) as well as good schools such as ACS International and Nanyang JCube Residence Primary School.

Putting the site up for collective sale at a guide price of $76 million on 7th February, the successful tender offered $1,746 per sq ft per plot ratio (psf ppr).

The Holland Tower site is the latest addition to a number of landed properties put up for collective sale recently, such as Roselane Court in Tanjong Katong listed for sale by tender at $23 mil, Kingsley Mansion in Balestier up for sale at $52 mil, and the collective sale of Hong Heng Mansions launched at $133 mil. In addition, the land sale at Parc Komo fetched a top bid of $102.2 mil.