Toho Mansion en bloc for $120.40 million to Koh Brothers
Koh Brothers has en bloc the freehold Toho Mansion District 10 for $120.40 million. The existing property is located at Holland Road and within walking distance to Holland Village. The land area of about 4,427.80 square metres can be developed to a potential gross floor area of 6,818.70 square metres inclusive of a 10 per cent bonus balcony area, yielding close to 100 units.
Based on the en bloc price, the estimated cost is S$1,805 per square foot per plot ratio. The cost can be lowered if the developer can maximise the bonus GFA. Due to its high development baseline, there will be no development charge for redevelopment.
The existing land parcel is located within private residential enclave and enjoys an unblocked view over the Good Class Bungalow due to it being on the elevated land.
According to Swee Shou Fern, Edmund Tie & Company’s senior director for investment advisory, the en bloc is attractive due a combination of factors such as being freehold under a single ownership, high development baseline, close proximity to Holland MRT Station, Holland Village and Chip Bee Gardens.
This purchase came on the back of the recent Hollandia en bloc to the FEC Properties. As there are limited en bloc freehold development at the moment. The timing to close this strategic property off Holland Road could not be timed better.
Hollandia spurred Koh Brothers to act fast on Toho Mansion
The Hollandia was sold for $183.83m which works out to be to a land rate of SS$1,703 per square foot per plot ratio. The estimated selling for new condominium will be in the region of $2500-$2600 psf.
There are market chatters on the possibility a The Estoril en bloc which is adjacent to the Hollandia. Two are mega developments Pacific Mansion and Tulip Gardens en bloc are underway and could take lead from here.
(Credit: SMRT)
Toho Mansion near Holland Village MRT Station
The developer intends to bring a fresh concept to the new condo near Holland Village station to maximise its potential. The Holland Village MRT is part of the Circle Line Rail Network which enjoys direct access to City Centre and several business and industrial parks. These locations such as Bouna Vista, Mapletree Business City, Habourfront Business Centre and Marina Bay will strongly will influence the buying decision of the homebuyers and investors.
Biopolis is an international research and development centre for biomedical sciences under theAgency for Science, Technology and Research (ASTAR). The ASTAR is a statutory board under the Ministry of Trade and Industry that supports R&D that is aligned to areas of competitive advantage and national needs for Singapore.
Mapletree Business City I (MBC) is an integrated business hub located at Alexandra designed to support and enhance the needs of modern business.
MBC is complete user-friendly features, environmentally friendly design, recreational facilities and amenities to provide a well planned “work and play” environment. This is particularly ideal for companies who integrate their office to back room support functions in a single location.
MBC has an estimated 1.7 million square feet of net lettable area including facilities such as:
- food and beverage outlets
- multi-purpose hall
- meeting facilities
- a gymnasium with heated pool
- a convenience store
- a childcare centre
- a clinic
- a laundromat.
MBC comprises four blocks of grade-A office and business park space with wide public spaces, lush greenery, art installation, connectivity to parks in the vicinity. The accessibility to various public transport nodes further enhance MBC as an outstanding centre for modern businesses.
As Singapore is moving towards a car-lite concept, it has become an important factor for good properties to have good access to transport network. There are considerable benefits to the value of the property due to the high rental demand. There are several bus stops within walking distance that can provide good connection to the city centres and business parks near Holland Road.
Holland Village is another strong influence on buying decision as many working professional are deeply attracted to the hip culture in Holland Village.
Holland Village Adds Unique Heritage To Future Development at Toho Mansion
Holland Village is popular enclave which provides a unique lifestyle due to its rich offerings of outdoor dining and heritage. There are affirm plans to for Holland Village future development in the upcoming Government Land Sales programme which will increase the offerings and vibrancy to the estate.
The Holland Village extension is designated for mixed use and will see the first 35-storey high rise private residential along Holland Road. The future condominium will enjoy a rare and up-close panoramic view of the Good Class Bungalows.
Nearby Primary and Secondary Schools
Primary Schools
Fairfield Methodist School(Primary)
Henry Park Primary School
Nanyang Primary School
New Town Primary School
Highlight: Looking at Nanyang’s progress and achievements, there is much to celebrate about its illustrious hundred years of school history. Their predecessors have left the successors with a impeccable legacy that they must now persevere to uphold and create upon. Let rich heritage of Nanyang and the fortitude of their beliefs guide our pupils in the darkest moments.
The world is changing faster than one can imagine and the students are faced with a future that is increasingly volatile, uncertain, complex and ambiguous. In Nanyang, they term it as VUCA. It will be impossible for them to deal with the future challenges in a reactive mode.
SECONDARY SCHOOLS
Anglo-Chinese School (Independent)
121 Dover Road
S(139650)
Fairfield Methodist School (Secondary)
102 Dover Road
S(139649)
St Margaret’s Secondary School
111 Farrer Road
S(259240)
Hwa Chong Institution
661 Bukit Timah Road
S(269734)
Queensway Secondary School
2 A Margaret Drive
S(149295)
About Francis Koh CEO
Francis Koh, managing director and group CEO, expressed his excitement on the prized acquisition a rare District 10 freehold site right in the middle of Holland Village, an enclave admired for its vibrant lifestyle. He also notes that the Holland Village has been earmarked for makeover and expansion and will complement their new development at Holland Road.
The Toho Mansion En Bloc marks the third acquisition made by the Group this year and they continue to seek out potential development site with quality attributes.