Olina Lodge sold for S$230.9 million
The hilltop Olina Lodge has been bought on April 20 for the price value of S$230.9 million, 5% greater than the reserved price value of S$220 million. This has been bought by Peak Opal, a related company of Kheng Leong.
The sale price sets to land rate S$1,712 per square foot per plot ratio. Development charges will not be applied due to high development baseline availability.
Based upon the property size, which area ranging between 1,281 sq ft and 2,766 sq ft, each individual owner at the 67-unit freehold development would get between S$3 million and S$5 million.
The development is within walkable distance to Holland Village, Farrer Road, Commonwealth MRT stations, including Dempsey Village.
Head of investment sales for marketing agent Singapore Realtors Inc (SRI), Andy Gan, said: “A hilltop enclave plot in prime District 10 is unique & Olina Lodge gives an opportunity for the developers to build an exclusive new development giving a tranquil environment with panoramic view.”