Holland Tower has been put up for en bloc by its marketing agent Jones Lang LaSalle.
Market watchers expect the site to fetch about S$1,300 to S$1,400 dollars per square foot.
This is comparable to nearby developments like Robin Court, Maison Royal and Serene House.
The 14-story single tower development is located on a 22,000 square feet site currently zoned for residential use.
Jones Lang said the new development can maintain the existing height and have a gross floor area of about 43,500 square feet.
It added that the freehold development located at 10 Holland Heights, is minutes from the Botanic Gardens and Orchard Road.
The marketing agent also said the future Holland Village MRT station will be located just one bus stop away.
Jones Lang is still positive on the market, despite the property cooling measures that were introduced recently.
The marketing agent said it believes that there is still a pool of genuine buyers and investors who are looking for their own stay or for long term investments.
The tender for Holland Tower closes on the February 23.
Source : Channel NewsAsia – 24 Jan 2011