Eleven @ Holland sold out of 48 apartments; seven more are up for bid

This mortgagee-related sale for 48 strata-titled semi-detached homes at Eleven@ Holland was a success, with the units sold out the moment viewings started on June 3rd. The houses were constructed through Clydesbuilt (Holland Link) and form part of a development that is strata-titled that includes 82 units located at Holland Link, situated off Old Holland Road in District 10’s prime area. This development completed its construction in the year 2014, and comes with the leasehold land tenure of 99 years since December 10, 2010.

According to the sole PropNex Realty, the sole agent PropNex Realty, 48 cheques were collected. Based on the unit cost of $1,000 per square foot and higher Absolute prices were ranging between $3.714 million up to $4.406 million. The transactions are still awaiting the mortgagee’s approval as well as the buyers’ signing of the purchase and sales agreement.

Grand Dunman showflat location is a few minutes’ drive from the Central Business District (CBD).

PropNex director of collective and investment sales Tracy Goh estimates that more than 100 potential buyers toured the properties on the 3rd of June on the day that they were made available to the public for inspection.

Due to the huge interest in the semi-detached strata-titled houses located at Eleven @ Holland Eleven @ Holland, an additional seven units within the development have been put up to the market for sale. The seller comes from an association called the Char Yong (Dabu) Association which is one of the oldest Chinese clan associations.

Char Yong (Dabu) Association bought seven units it purchased from Fong Yun Thai Association, an umbrella body that covers three Hakka clans including Char Yong (Dabu) Association.

Fong Yun Thai Association owned the land Eleven @ Holland sits on. One of the terms of their agreement in 2010 with developer Clydesbuilt (Holland Link) in 2010 was that Fong Yun Thai Association would be the owner of 25 units in the project that was finished, while developers holding the remaining 57 units. developer having the remainder of 57 units.

The seven semi-detached homes are scattered throughout the development. They’re all three stories with an addition of an attic, as well as basement. They are equipped with five bedrooms and five bathrooms, with an average strata area of 3,735 square feet. The prices of these apartments are a little more expensive, ranging from $3.9 million up to $4 million, or $1,044 per square foot to $1,071 per square foot.

Six of the units are to be auctioned off together with current tenancies, and the seventh being sold with vacant possession. One of the units has a monthly rent of $8,800, the other units are priced between $10,000 and $12,300. The tenancy expiry dates starting in August 2024 until May 2026.

These properties will be offered for auction that will close at noon on June 12. The winner of the tender will be the one who submits the highest bid that is accepted by the seller, Char Yong (Dabu) Association.