With 48 units sold via mortgagee sale, another seven units have been launched for sale by tender (Photo: PropNex Realty)
SINGAPORE (EDGEPROP) - The mortgagee sale of 48 strata-titled, semi-detached houses at Eleven @ Holland saw all units snapped up when viewings began on June 3. The houses were developed by Clydesbuilt (Holland Link) and are part of a strata-titled development with 82 units at Holland Link, off Old Holland Road in prime District 10. The development was completed in 2014 and has a 99-year leasehold land tenure from December 2010.
According to sole agent PropNex Realty, 48 cheques were collected, and based on the unit price of $1,000 psf and above, absolute prices ranged from $3.714 million to $4.406 million. The transactions are pending the mortgagee's approval and the buyers signing the sales & purchase agreement.
PropNex head of investment and collective sales Tracy Goh estimates that more than 100 interested buyers visited the properties on June 3, when the units were opened for viewing.
Owing to the strong interest in the strata-titled semi-detached houses at Eleven @ Holland, another seven units in the development have been offered for sale. The seller this time is the Char Yong (Dabu) Association, one of the oldest Chinese clan associations.
Char Yong (Dabu) Association purchased the seven units from Fong Yun Thai Association, an umbrella body for three Hakka clans, including Char Yong (Dabu) Association.
Eleven @ Holland has 82 strata-titled semi-detached houses completed in 2014 and located on Holland Link, off Old Holland Road (Source: EdgeProp Landlens)
Fong Yun Thai Association owned the land that Eleven @ Holland sits on. Part of its agreement with developer Clydesbuilt (Holland Link) in 2010 was that Fong Yun Thai Association would take over 25 units of the completed development, with the developer holding the remaining 57 units.
The seven semi-detached houses are spread across the development. They are all three-storey with the addition of an attic and basement. They have five bedrooms and five bathrooms with an average strata area of 3,735 sq ft. The indicative prices for these units are slightly higher, from $3.9 million to $4 million or from $1,044 psf to $1,071 psf.
Six units will be sold with existing tenancies, with the seventh sold with vacant possession. While one of the units has a monthly rental rate of $8,800, the rest range from $10,000 to $12,300, with tenancy expiry dates from August 2024 to May 2026.
The properties will be put up for sale via tender, which will close at 12pm on June 12. The successful tenderer will be the party who has submitted the highest bid accepted by the vendor, Char Yong (Dabu) Association.