One Holland Village Residences up for 80% take-up rate
According to a press statement issued by Far East Organization on January 11, 237 out of the total 296 apartments in the condo complex known as One Holland Village Residences, which is located along Holland Village Way, have been sold.
The mixed-use development known as One Holland Village is being worked on by Far East Organization, together with joint-venture partners Sekisui House and Sino Group. This particular project has a 99-year leasehold. Community areas are included in the development alongside residential, serviced apartment, and office components of the project.
“We are encouraged to start off 2023 on the back of excellent sales at One Holland Village Residences,” says Michelle Tang, deputy director, residential sales, at Far East Organization. “We are ecstatic to kick off 2023 on the basis of positive sales at One Holland Village Residences.” “Our purchasers continue to be attracted by One Holland Village’s central locale, appealing and distinctive proposal, and excellent use of intelligently curated areas that are purposely built for communal and recreational use,” said One Holland Village’s marketing director.
Over ninety percent of the purchasers of homes in the One Holland Village Residences are citizens of Singapore, the vast majority of whom live in Districts 10 and 11. When it comes to customers from other countries, the Americans make up the greatest part, followed by buyers from Indonesia and buyers from China. According to Far East Organization, one-third of the purchasers bought a unit with the intention of using it as an investment.
2019 is the year when One Holland Village Residences went on the market for purchase. It includes the Sereen, Leven, and Quincy Private Residences as its three distinct options. The Sereen is a skyscraper that has 34 stories and 248 apartments that range in size from 484 to 1,098 square feet and include one to three bedrooms. According to Far East Organization, the average price per square foot at Sereen has reached $2,649, and the developer reports that 94% of the one-bedroom units have already been purchased.
The community of Leven is comprised of 21 units that are dispersed over three-story low-rise buildings. All of the apartments include two bedrooms and range in size from 807 to 1087 square feet. There have been a total of 19 sales at Leven, with an average price per square foot of $2,909 psf.
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In the meanwhile, Quincy Private Residences offers 27 premium apartments that range in size from 1,238 to 3,358 square feet and can accommodate anywhere from three to four bedrooms. In addition, there is a single penthouse that is 3,488 square feet in size. To this day, the penthouse as well as all of the four-bedroom apartments have been purchased. One of the four-bedroom condos on the 27th level sold for $7.15 million ($3,426 psf) in August 2022, setting a new record high for the property in terms of the price per square foot of available space. The average price per square foot for a unit at Quincy Private Residences was determined to be $3,233.
In its press release, Far East Organization also highlighted the fact that the retail component of One Holland Village, known as One Holland Village Shops, has achieved an expected occupancy of 82%. This figure is derived from leases that have been committed to as well as leases that are still in the process of being finalized. The three-story shopping center now has a total of 44 tenants committed to moving in. A total of about 95,373 square feet of net lettable space may be derived from the secured leases.
Lil’ Kinki, which is owned and operated by Kinki Restaurant & Bar, the homegrown traditional Chinese medicine brand Pulse TCM, the hipster café Caffeine Xpress, and Plain Meredith, which is owned and operated by Baker’s Brew are all confirmed tenants with fresh brand ideas. At the shopping center, the supermarket chain CS Fresh will occupy around 8,000 square feet of area.
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