One Holland Village Residences has an occupancy rate of 80%
One Holland Village Residences, an apartment complex of 296 units located on Holland Village Way, has been able to see the equivalent of 80% or 237 units sold, as per an announcement on the 11th of January from the Far East Organization.
The Lakegarden Residences launch price to house luxurious residential property that will host 300 sophisticated and elegant apartments.
The 99-year leasehold forms part of the One Holland Village mixed-use development developed by Far East Organization and joint-venture partners Sekisui House and Sino Group. The project includes residential, serviced apartment , and office elements in addition to space for community use.
“We are delighted to begin 2023 with a positive outlook following the success of numbers of One Holland Village Residences,” says Michelle Tang, deputy director residential sales for Far East Organization. “Our customers are attracted by the One Holland Village’s prime locale an attractive and unique offering and excellent use of well-curated spaces specifically created for recreational and community usage.”
More than 90% of buyers who purchase One Holland Village residences reside locally and the majority of them are residents of Districts 10 and 11. When it comes to the foreign purchasers, Americans are the most of the buyers being followed closely by Indonesian and Chinese buyers. Based on Far East Organization, 35% of buyers purchased an investment property.
One Holland Village Residences was launched for sale in the year 2019. It consists of three properties: Sereen, Leven and Quincy Private Residences. Sereen is a 34-storey building featuring 248 apartments composed of one-to-three-bedders with a total of between 484 and 1,098 square feet. As per Far East Organization, Sereen has been able to achieve an average of $2,649 per sq ft with the majority of% in the single-bedders sold.
Leven is a cluster of 21 apartments spread over low-rise , three-storey blocks. They are all two-bedders that range from 807 and 1,087 square feet. As of now 19 units in Leven were sold for an average cost of $2,909 per square foot.
In addition, Quincy Private Residences features 27 luxurious units comprised of three and four-bedroom units that range from 1,238 to 3,358 square feet. There’s also a penthouse that measures 3,488 square feet. So far the penthouse as well as the entire four-bedroom unit are sold, including one four-bedder located on the 27th floor, which was sold for $7.15 million ($3,426 per square foot) on August 20, 2022. It was an all-time high for the project in terms of price per square foot. The units sold in Quincy Private Residences achieved an average of $3,233 per square foot.
In its press announcement, Far East Organization also stated the fact that One Holland Village’s component for retail – One Holland Village Shops – has been operating at an occupancy of 85% Based on the commitment of leases and leases in the process of final execution. The mall has 44 tenant leases were secured in the 3-storey mall. The leases secured amount into a net lettable space of 95,373 square feet.
Tenants confirmed with brand new concepts include Lil’Kinki through Kinki Restaurant & Bar, the homegrown classic Chinese medical company Pulse TCM, hipster cafe Caffeine Xpress and Plain Meredith by Baker’s Brew. An anchor Tenant CS Fresh will take up around 8,000 square feet of mall space.
One Holland Village Shops is set to open by close of the year, and One Holland Village Residences is scheduled to be completed by the end of 2024.