Olina Lodge on the market for $220 million

On March 21, the freehold Olina Lodge was launched for collective sale via tender, with Singapore Realtors Inc (SRI) as the sole marketing agent. The freehold Olina Lodge has a land area of about 84,289 sq ft and is up for sale at a reserve price of $220 million, or $1,631 psf per plot ratio (ppr). Due to its high development baseline of a gross plot ratio (GPR) of 1.6, there is potentially no development charge payable.

According to SRI, the land rate could be potentially averaged down further to slightly below $1,500 psf ppr, if the developer chooses to build an additional 10% gross floor area (GFA) for balconies.

This is Olina Lodge’s third attempt at a collective sale. Situated at 15 Holland Hill at prime District 10, it is zoned “Residential” under the 2014 Master Plan. The redevelopment can be a 12-storey development with 128 units, assuming an average size of 1,000 sq ft each. The tender for Olina Lodge will close on April 19.