La Ville at Tanjong Rhu up again for collective sale, price lowered to $148mil

The home owners of La Ville at Tanjung Rhu are performing their additional effort for a en bloc. The save value for the project has already been pushed down to $1hundred 48 million, revealed BT, citing exclusive marketing and advertising professional JLL.

Parc Greenwich Condo Floor Plan

The freehold building was previously set up intended for collective deal in Jun2K18, releasing an inquiring rate of $152 million. Unfortunately, the offer for the apartment got stopped as a result of the government revealed all new apartment calming actions in July’18.

The 40-unit skyscraper property was constructed in the ’80s. It covers a Forty Seven thousand and Twelve square ft plot sector for Residential purpose under the 2K19 Master Plan, plus a permitted gross plot ratio of 2.1.

The Business Times noted that the plot may be redeveloped right into 107 housing units, alongside a median measurements of Eighty Five square m.

La Ville’s minimal price formulates to a ground price of $1thousand 4hundred 99 psf ppr or almost $1thousand 4hundred 39 psf per plot ratio when adding in the added Seven percent incentive total floor area in addition to the comparable property development expense.

By having the future Katong Park Mass Rapid Transit Terminal on the TEL just a 250 meter step distant, the development is really nearby Gardens By the Bay, Katong Park and also coastlines by ECP.

That it is equally near different facilities, offering PP and also Kallang Wave, with F and B alternatives over at Tanjung Rhu, East Coast Rd furthermore Old Airport Rd Food Centre.

Proximate schools consists of KHPS, Canadian International School (Tanjong Katong) also Dunman High School.

Tan Hong Boon, Exec Director of Capital Mkts over at Jones Lang LaSalle, anticipates the plot to draw in durable attraction due to its own sought-after address and also ease. Tan likewise indicated in which generally there will be “zero inventory of non commercial development locations inside the Tj Rhu territory”.

Tan added in which the development furnishes “compelling redevelopment benefit” with regards to “construtors searching for mid-sized elite residential projects”.

The offer intended for La Ville closes on 30Nov.

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