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News Release

Singapore

Residential redevelopment site - Holland Tower in District 10 up for collective sale by tender


SINGAPORE, 24 January 2011 – Jones Lang LaSalle is marketing the Collective Sale of Holland Tower which presents developers a rare freehold residential redevelopment opportunity in the highly sought after District 10

The 21,879 sq ft site, zoned for ‘residential’ use, sits within the Holland Park Good Class Bungalow Area. The Urban Redevelopment Authority (URA) has in principle indicated that the new development can maintain the existing height and have a Gross Floor Area of about 43,691 sq ft. No development charge is payable.

Holland Tower, located at 10 Holland Heights is a single 14-storey tower development consisting of 19 units. Situated on elevated ground a few storeys above road level, the site presents panoramic views of the city skyline and lush surroundings.

The site is conveniently located in the Holland Park residential enclave and is well served by arterial roads including Farrer Road, Queensway and Holland Road; and major expressways including the Pan-Island Express Way (PIE) and Ayer Rajah Expressway (AYE). Vehicular access to the development is via Holland Heights.

Holland Tower is minutes from Singapore’s Botanic Gardens, Orchard Road, and is in close proximity to the lifestyle, food and beverage outlets and banking facilities of Holland Village and the Dempsey Cluster. The future Holland Village MRT station will be located just one bus stop away.

Ms Stella Hoh, National Director and Head of Investments at Jones Lang LaSalle, comments “This elevated freehold site is expected to draw strong interest due to its locality, proximity to amenities and the potential to be redeveloped into a boutique development offering exclusivity in a Good Class Bungalow area and offering unblocked views of lush greenery as the site is totally unblocked."

"Despite the property measures that were introduced recently, we believe that there is still a pool of genuine buyers/ investors’ who are looking for own stay/ long term investments. Thus, this site will still draw interest from small and mid sized developers who are confident of the serenity and exclusivity of the area," Ms Hoh adds.

The tender for Holland Tower will close at 3:00 pm on Wednesday, 23 February2011 Tenders are to be submitted to Jones Lang LaSalle at 9 Raffles Place, #39-00 Republic Plaza.