Wing Tai Holdings wins tender for freehold Holland Tower site for $76.3 mil
Wincove Investment, the wholly-owned subsidiary of Wing Tai Holdings, was successful in the tender for the collective purchase of the Holland Tower site for a total of $76.3 million. Located in prime District 10, the site has an area of 2,032.6 sqm (21,878.72 sq ft). Featuring a gross floor area (GFA) of Tengah Plantation EC 4,059.05 sqm., the property has a price of $1,746 per sq ft per plot ratio (psf ppr).
Tan Hwee Bin, executive director at Wing Tai Holdings, has stated that the location offers stunning unblocked views of both the greenery in Holland Park and the Singapore skyline. Located within a five-minute drive or fifteen-minute-stroll of Dempsey Hill and Holland Village, the site is also near the Ayer Rajah Expressway (AYE), the Pan Island Expressway (PIE) and various notable schools, such as ACS International and Nanyang Primary School. Plus, it is only a short distance away from the city’s popular Orchard Road shopping belt and the Singapore Botanic Gardens.
The sale was first announced on February 7 with a guide price of $76 million.
Wing Tai is planning to build an iconic, luxurious residential development on this prime location. Given the area’s attractions, this ambitious project is sure to draw in a great deal of attention.
Other areas within the region have also been seeing increased levels of investment. Roselane Court in Tanjong Katong has been listed for sale by tender at $23 million, and Kingsley Mansion in Balestier for sale at $52 million. The collective sale of Hong Heng Mansions was recently launched at $133 million.