Olina Lodge at Holland Hill up for en bloc again

Olina Lodge, a freehold condominium located at Holland Hill, has been relaunched for collective sale with a lower indicative price of S$220 million.

The tender for the 84,288 square foot site, which has a maximum plot ratio of 1.6 or a gross floor area of 134,862 sq ft, will close on Dec 13, according to property consultant DTZ.

The price translates to S$1,544 per sq ft per plot ratio, including 10 per cent of balcony space.

The four-storey walk-up currently comprises 67 units, and may be redeveloped into a 12-storey residential development.

DTZ’s head for investment advisory services and auction Shaun Poh said that the investment quantum for this hilltop site will appeal to developers seeking mid-sized residential sites in popular housing districts.

The site is close to popular locations such as Dempsey Hill, Tanglin Village, Singapore Botanic Gardens and Orchard Road.

Olina Lodge was previously put up for tender in June with an indicative price of S$225 million.

Source : Today – 25 Nov 2011

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