At the sales gallery of Far East Organization’s latest project, One Holland Village Residences, visitors will find the work of contemporary artists such as Australia’s David Bromley and local collaborative art duo Ripple Root. The latter was also commissioned to create a mural that reflects the essence of Holland Village.
While the sales gallery is primarily for the private residential component of Far East Organization’s mixed-use development One Holland Village, Marc Boey, the group’s director of planning and acquisitions, views the entire project as an opportunity to incorporate placemaking initiatives that will benefit the broader Holland Village and Chip Bee Gardens estate.
As such, the art pieces adorning the walls of the sales gallery give visitors a feel of what is to come. Boey likens Holland Village to other trendy neighbourhoods in the world like London’s Shoreditch and Notting Hill, and New York’s Brooklyn..
He reckons that this is also the reason why the 99-year leasehold site was so hotly contested when it was launched for tender last year. The site, put up by the URA under its dual-envelope concept and price tender, had drawn 15 bids from 10 consortiums when the tender closed.
Under the dual-envelope tender, all bidders are required to submit their concept proposals and tender prices in two separate envelopes. On the tender closing day, the envelopes containing the concept proposals are opened and then evaluated by the Concept Evaluation Committee.
The shortlisted concept proposals then proceed to the second stage of the tender evaluation whereby the envelopes containing the tender prices are opened, with the site awarded to the highest bidder.
Far East Organization, with its joint-venture partners Sekisui House and Sino Group, submitted three bids for the site. The consortium won the site with a bid of $1.2 billion, the highest bid among five shortlisted tenderers. The price translates to approximately $1,888 psf per plot ratio (psf ppr).
Located in the Holland Village enclave and within walking distance to Holland Village MRT Station on the Circle Line, the site has a maximum gross floor area (GFA) of 664,300 sq ft, of which up to 145,314 sq ft can be allocated for retail use.
“Having an exceptionally large development site – more than three football fields in size – at the heart of Holland Village gives us the opportunity to inject more varied uses and activities,” Boey says.
One Holland Village will be launched on the weekend of Nov 30 and Dec 1, and is marketed by ERA Realty Network, Huttons Asia, OrangeTee, PropNex, and SRI.
Despite submitting concept proposals for the site tender, Boey reveals that it took the consortium many design iterations before finalising the version presented at the sales gallery.
According to him, the consortium wanted to break away from the usual single-block design of mixed-used buildings. As such, the land that One Holland Village Residences occupies has been subdivided into two distinct zones: residential and commercial (comprising retail, office and community use spaces).
“The advantage of subdividing is that you have a cleaner development that doesn’t have common management corporation strata title (MCST) mixes with the retail component,” he explains.
The residential zone comprises a three-storey, low-rise block, and two blocks of 34 storeys and 28 storeys. Together, these three blocks will house the 296-unit One Holland Village Residences and the 255-room serviced residences Quincy House.
One Holland Village Residences will feature three distinct offerings: Sereen, Leven and Quincy Private Residences. Housed in the 34-storey building, Sereen will have 248 one- to three-bedroom apartments of 484 to 1,098 sq ft.
Leven is a three-storey block with roof terrace inspired by the quaint walk-up apartments found along Chip Bee Gardens. Leven only has 21 two-bedroom apartments of 807 to 1,087 sq ft.
The most luxurious offering is Quincy Private Residences. Housed in the 28-storey building, these 27 apartments are stacked on levels 21 to 28 above Quincy House on the lower floors. Units range from 1,238 sq ft three-bedroom units to 3,358 sq ft four-bedroom duplexes. There is also only one penthouse of 3,488 sq ft. These apartments have a high vantage point and come with private lift access and concierge services.
According to Far East Organization, indicative prices across all three product categories will be at around $2,400 to $3,500 psf. As at the time of publication on Nov 27, the indicative quantum prices were not available. The residential zone will be completed at end-2024.
Meanwhile, the mixed-use project’s commercial zone – comprising retail, office and community use spaces – will be completed in mid-2022. Boey highlights that the completion was intentionally planned in two phases so that by the time residents move in, they can enjoy the retail and lifestyle offerings at One Holland Village.
The seven-storey commercial podium comprises 145,314 sq ft of retail space on the first three floors and 80,730 sq ft of office space on levels 4 to 7. The commercial component has 468 carpark lots while the residential towers will have its own carpark.
To retain the “eclectic” charm of Holland Village, Boey says One Holland Village will curate the retail mix. To date, Cold Storage and Guardian Pharmacy have confirmed their tenancy in the development. Other tenants include non-profit arts organisation The Rice Company Ltd, and independent movie theatre The Projector.
“As an independent cinema and cultural platform offering a range of alternative films and performances, The Projector’s content will be complementary to the bohemian vibe of Holland Village,” says Boey.
Apart from that, One Holland Village will offer a “street-oriented retail experience”, says Siew Man Kok, director of MKPL Architects, the project’s lead architect. A new footbridge linking One Holland Village to the HDB estate next door will also provide added convenience for the broader community.
Holland Village is one of URA’s key “identity nodes”, defined by its distinctive character and unique local flavour embedded in its rich urban fabric. With this in mind, MKPL Architects envisioned a seamless live, work, play environment for the community when it came to One Holland Village’s architecture.
One Holland Village will have pockets of spaces where residents and visitors can interact and relax. They are the Village Square, Village Green, and the Village Deck, which are interspersed around the development. The Village Square will also be linked to the existing Holland Village Market and Food Centre.
At the Village Square, Far East Organization is currently working with the URA to build a canopy over the space, which “is practical from a commercial point of view”, says Boey. True to the group’s commitment to public art, they will be collaborating with an artist to paint on the canvas of the canopy, so that it is like looking at “a piece of art” when viewed from the higher floors of the residential blocks. Far East Organization has committed $20 million to beautify One Holland Village through public art.
Far East Organization will also be working with The Rice Company Ltd to curate arts and cultural programmes at One Holland Village. Both organisations have previously collaborated to organise programmes at Orchard Central and Far East Square.
Boey emphasises the importance of engaging business owners and the community to better understand their needs and work together to develop the neighbourhood.
“Any neighborhood goes through ups and downs. I think what is worth mentioning is, despite the ups and downs, [Holland Village] has always stood firm,” says Boey. He adds that the character of Holland Village is “evolving in terms of being more diversified in terms of its offerings and character”, and One Holland Village will both support and flourish alongside the growth of the area.
“We are not trying to be Holland Village 2.0, and become something different. [The development is] really part of the existing Holland Village,” says Boey.
For price trends, recent transactions, other project info, check out One Holland Village project research page
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