Semi-detached house on Holland Link going for $3.5 mil

/ EdgeProp
September 9, 2018 12:00 PM SGT
Eleven @ Holland, along Holland Link, comprises 82 strata-titled houses on a 99-year leasehold (Credit: ET&Co)
A strata-titled semi-detached house on Holland Link, in prime District 10, will be put up for auction at a guide price of $3.5 million ($825 psf).
The property, to be auctioned on Sept 26 by Edmund Tie & Co (ET&Co), is part of a cluster housing development that was completed in November 2014. Eleven @ Holland comprises 82 houses on a 99-year leasehold site, with the lease taking effect from 2010. This will be the second time the 4,241 sq ft property is up for auction. At its first auction, it had the same opening price of $3.5 million, which drew zero bids.
The 3½-storey house with basement has five bedrooms. The first floor features the living and dining areas as well as a patio. The master bedroom, in the attic, comes with en suite bathroom and a roof terrace. The basement, meanwhile, houses two private car-park lots and a family area. The property will be sold unfurnished and untenanted.
ET&Co will be putting up two semi-detached houses at Eleven @ Holland up for auction on September 26 (Credit: Samuel Isaac Chua/The Edge Singapore)
The price is “very reasonable” for a house in a prime district, says Joy Tan, head of auction and sales at ET&Co, who is marketing the property. The asking price is negotiable, she adds. Tan acknowledges that the recent round of property cooling measures by the Singapore government has caused sellers to be more flexible in price negotiation.
To date, the average psf price fetched at Eleven @ Holland is $1,055, according to caveats lodged with URA Realis.
In addition, ET&Co will put up another property at Eleven @ Holland for auction on Sept 26, at a guide price of $3.28 million ($866 psf). Both properties are owned by the same company, which is looking to diversify its investments, Tan says.
The living room of the 3,788 sq ft semi-detached at Eleven @ Holland. The home will be up for auction at a guide price of $3.28 million (Credit: ET&Co)
The second home is also a 3½-storey, strata- titled, semi-detached house, albeit on a smaller plot of 3,788 sq ft. It will be sold fully furnished.
Rental yields for houses at Eleven @ Holland typically range from 2.3% to 3%, says Tan. From August 2015 to June 2018, houses at the development fetched monthly rents of $6,000 to $10,500, according to caveats lodged with URA.
Eleven @ Holland is close to public transport, food centres and schools. It is a six-minute drive from Sixth Avenue MRT station, on the Downtown Line. The Bukit Timah Market & Food Centre is a five-minute drive away, while schools such as Methodist Girls’ School and Nanyang Girls’ School are within a six-minute drive.
The properties put up for auction are suited to those who are looking for a quiet neighbourhood, notes Tan. So far, enquiries have come from owner-occupiers, not investors, she adds.