Jan 22, 2010

Holland Residences to go on sale

ANOTHER high-end condominium is set to hit the market following a number of recent upscale launches.

Allgreen Properties will launch Holland Residences for sale next week, said marketing agent CB Richard Ellis (CBRE).

The five-storey freehold development - it is on Taman Warna and next to Chip Bee Gardens off Holland Road - has been 13 years in the making.

Allgreen bought the site, which used to host nine bungalows, for $78.26 million in 1997.

The launch price for Holland Residences is 'yet to be confirmed' but is likely to be at an average of $1,600 to $1,700 per sq ft, said Mr Joseph Tan, CBRE's executive director for residential.

He said CBRE has already received inquiries and expressions of interest. 'We expect the response to Holland Residences to follow the strong sales momentum that started in the second half of 2009.'

Allgreen will release 30 to 40 of the development's 83 units for sale in the first phase.

It will start previews on Monday for ex-owners of the site's former bungalows. This will be followed by a preview for Allgreen's directors, staff and business associates before sales are opened to the public.

The 83 units at Holland Residences will range from one-bedroom to four-bedroom apartments and penthouses.

Sizes start from 600 sq ft for a one-bedder and go up to 2,800 sq ft for a four-bedroom penthouse.

There will also be three-bedroom loft units of 1,900 sq ft with a jacuzzi on the ground floor.

Other developers are also starting to kick off their 2010 launches.

City Developments opened the doors of Cube 8 at Thomson yesterday to former owners of The Albany and Thomson Mansion, the projects that used to stand on the site.

Staff and directors were also invited to the preview, where units were sold for an average of $1,250 psf, The Straits Times understands.

The public preview for Cube 8 will start today.