Buyer snaps up 10 Semi-D houses in mortgagee sale, all 48 units sold in 3 days
When 48 semi-detached houses in Bukit Timah were put up on mortgagee sale after the developer went into liquidation, it came as little surprise that the homes were snapped up in just three days.
But remarkably, one particular buyer felt the property at Eleven@Holland was so lucrative, they bought 10 units at one go.
According to Shin Min Daily News, each house carried an average price of $3.7 million.
The 99-year leasehold units are part of an 82-unit project developed by Clydesbuilt (Holland Link), which is being wound up, with liquidators appointed last November. The properties were mortgaged to Hong Leong Finance.
Of the 48 units, 45 are three-storey units with five bedrooms and bathrooms. Each of them includes a private lift and two private parking lots. The remaining three units are two-storey houses with an attic and basement.
In May, real estate agency PropNex Realty announced that the houses at Eleven@Holland would be available for viewing to the public from June 3.
Due to the high popularity of the property, potential buyers had to hand over a cheque equal to the property’s value before they could even view the houses.
Eventually, the properties were up for viewing on June 1 instead, and many decided to buy the properties on the day itself, including one buyer who snapped up 10 units.
Despite carrying an additional 30 per cent Buyer’s Stamp Duty, all houses were bought by around 11am on June 3.
The 48 units are located around 1km from the Sixth Avenue and King Albert Park MRT stations, and are also near schools such as Raffles Girls’ Primary, Hwa Chong Institution and Ngee Ann Polytechnic.