La Ville at Tanjong Rhu up again for collective sale, price lowered to $148mil
The owners of La Ville at Tj Rhu are undoubtedly conducting their additional tryout for a en-bloc. The save value with regards to the property has been reduced to $One hundred Forty Eight mil, published BT, indicating exclusive advertising and marketing agent Jones Lang LaSalle.
The free rental building was actually in the past set up to get cumulative transaction in June2K18, conveying an inviting figure of $One hundred Fifty Two million. Unfortunately, the tender with regards to the building was interrupted following the govt unveiled updated building cooling measures in Jul2018.
The 40-unit high-rise project was constructed in the 1980s. It possesses a 47,012 sq ft plot sector for Non commercial application in the ’19 Master Plan, by having a permitted total PR of Two point One.
BT considered that the location could be rebuilt into 1hundred 7 residence units, including a median measurements of 85 sq m.
La Ville’s minimal value works out to a ground price of $1thousand 4hundred 99 per sq ft per plot ratio or about $One thousand Four hundred Thirty Nine psf ppr after considering the further Seven percent bonus gross floor surface area along with the corresponding project cost.
With the forthcoming Katong Park MRT Station on the TEL just a 250 m stroll distant, the development is nearby Gardens By the Bay, Katong Park plus seasides over at East Coast Park.
Midtown Modern Condo Floor Plan
That it is likewise neighboring to various conveniences, suching as Parkway Parade as well as Kallang Wave, including F&B alternatives throughout Tanjung Rhu, East Coast Rd as well as Old Airport Road Food Centre.
Neighboring academic institutions such as Kong Hwa Primary School, Canadian International School (Tanjong Katong) plus DHS.
Tan Hong Boon, Executive Director of Capital Mkts for JLL, projects the site to appeal to durable attraction thanks to its desired address and also comfort. He at the same time mentioned that there is “zero source of housing property spots throughout the Tj Rhu territory”.
Tan included in which the project presents “strong reconstruction possibility” for “developers looking for moderate scale elite home projects”.
The tender with regards to La Ville ends on 30November.
