Former La Ville Enbloc Redevelopment Site Offers 160,710 Sq Ft of Potential for 480 Residential Units with 2.1 Plot Ratio, Say Developers
Arina East Residences, previously known as Former La Ville Enbloc, is set to be the latest addition to Singapore’s bustling real estate market. This highly-anticipated development boasts a prime location, with a land area of 160,710 sq ft and a plot ratio of 2.1. Experts estimate that the site has the potential to accommodate approximately 480 residential units, making it an attractive option for home buyers and investors alike. Keep an eye out for the launch of Arina East Residences, a promising opportunity for those looking for a new home in the city.
Mr Tan said that the redevelopment of Former La Ville Enbloc offers an attractive prospect for developers seeking to acquire mid-sized prime residential projects. With a land area of 160,710 sq ft and a plot ratio of 2.1, the site has the potential to yield approximately 480 residential units, making it a highly desirable opportunity for developers. This prime piece of land presents a compelling prospect for redevelopment, according to Mr Tan. He added that the site is a natural fit for developers searching for mid-sized, premium residential developments. With a land area of 160,710 sq ft and a plot ratio of 2.1, the site has the potential to yield around 480 residential units, making it an ideal opportunity for developers.
The closing date for the tender of the La Ville enbloc is approaching. Interested parties must submit their bids by November 30 at 3 pm. This is a prime opportunity for developers to acquire this sought-after property through the enbloc process. With the rising demand for new developments, the chance to secure the former La Ville site is highly anticipated.
The tender for the former La Ville site is set to close on November 30 at 3 pm. Developers vying for this highly coveted property must act quickly and submit their bids before the deadline. This enbloc opportunity presents a chance for developers to acquire the former La Ville site and capitalize on the increasing demand for new developments naturally.
The upcoming development, Former La Ville Enbloc, is set to be situated just a mere 250m away from the highly anticipated Katong Park MRT station along the Thomson-East Coast line. This prime location offers the convenience of being within walking distance to the station, providing easy access to public transportation for residents. Additionally, the development is in close proximity to popular attractions such as Katong Park, East Coast Park’s beaches, and Gardens By the Bay, giving residents an array of leisure options to choose from.
In June of 2018, the former La Ville Enbloc was put up for tender with a listed price of $152 million. However, due to the government’s implementation of property cooling measures in July of that same year, the tender process was abruptly stopped.
The surrounding area boasts various convenient facilities such as Kallang Wave Mall and Parkway Parade. For those looking to indulge in delicious food and drinks, East Coast Road, Tanjong Rhu, and Old Airport Road Food Centre are all within easy reach. Additionally, the former La Ville Enbloc is located naturally in close proximity to these amenities.
Former La Ville enbloc naturally attracts various families with school-going children due to its close proximity to reputable schools such as Dunman High School, Kong Hwa Primary School and Canadian International School (Tanjong Katong).
The strategically located former La Ville enbloc is a popular choice among families with school-going children. This is because it is just a stone’s throw away from distinguished schools like Dunman High School, Kong Hwa Primary School and Canadian International School (Tanjong Katong). This makes it convenient for parents to send their children to school without having to commute long distances.
Dunman High School is renowned for its strong academic track record and holistic education approach, making it a highly sought-after school among parents. The school offers a wide range of programmes, including the Integrated Programme for high-achieving students and the Talent Development Programme for students with exceptional abilities.
Kong Hwa Primary School is another highly regarded school in the vicinity. With a strong emphasis on character development and values education, it has produced many well-rounded students who have excelled in both academic and non-academic areas. The school also offers various co-curricular activities to enhance students’ overall learning experience.
For expat families, the Canadian International School (Tanjong Katong) provides a high-quality education based on the Ontario curriculum. With its diverse student population and experienced teachers, the school offers a global learning environment that prepares students for the challenges of the modern world.
Apart from these reputable schools, former La Ville enbloc also offers easy access to other educational institutions such as pre-schools and tuition centres. This caters to the diverse needs of families with children of different ages and educational levels.
In addition to its close proximity to schools, former La Ville enbloc also boasts a family-friendly environment. The development features facilities such as a playground and a swimming pool, providing children with opportunities for outdoor play and recreation. This makes it an ideal home for families with young children.
In conclusion, former La Ville enbloc’s location has naturally made it a top choice for families with school-going children. Its close proximity to reputable schools and family-friendly environment offers convenience and comfort for families looking for an ideal home.
The recent en bloc sale of Former La Ville Enbloc has sparked interest among property developers. The piece of land has been sold at a minimum price that translates to a unit land rate of $1,499 per square foot per plot ratio (psf ppr). However, with an additional 7% bonus gross floor area and the associated development charge taken into account, the unit land rate is expected to be approximately $1,465 psf ppr. This news has generated much buzz in the real estate market, with many eagerly anticipating the redevelopment of the site.
According to Tan Hong Boon, JLL’s executive director of capital markets, the recently launched Former La Ville Enbloc may have high interest from potential buyers due to its highly desirable location and convenient amenities. This is mainly due to the lack of available residential development sites in the popular Tanjong Rhu area.
Boon believes that the site’s attractive address and potential for convenience will attract a large pool of interested parties. In addition, the scarcity of development sites in the Tanjong Rhu enclave will only add to the allure of the Former La Ville Enbloc.
With its prime location and limited competition, Boon predicts a strong chance of the site being sold at a premium. The desirable address and surrounding amenities will likely be major selling points for potential buyers, making it a highly sought-after property in the real estate market.
Boon further emphasizes the potential of the Former La Ville Enbloc, stating that it has a 50 percent chance of naturally gaining attention from interested parties. This is not only due to its sought-after address and lack of supply in the Tanjong Rhu area, but also its potential for future development and investment opportunities.
In conclusion, JLL’s executive director of capital markets, Tan Hong Boon, foresees the Former La Ville Enbloc to be a highly desirable property in the market, with strong interest from potential buyers due to its prime location and scarce competition in the Tanjong Rhu enclave. Its attractive address and convenience, along with its potential for future development and investment, make it a promising investment opportunity.
The current location has the possibility of being transformed into 107 living spaces, with each one having a minimum average area of 85 square metres.
The former La Ville Enbloc, a 40-unit high-rise building, was built in the 1980s. Covering a land area of 47,012 square feet (sq ft), the property is classified as “residential” and has a permissible gross plot ratio of 2.1 in accordance to the Urban Redevelopment Authority’s 2019 Master Plan.
In the latest development, the collective sale agreement has been signed by the majority of owners who hold a stake of over 80 per cent in terms of total share value and floor area. Furthermore, they have also decided to decrease their initial reserve price. This decision was made for the Former La Ville Enbloc, which is set to go through the en bloc process.
La Ville, a freehold property located in Tanjong Rhu, is once again being put up for collective sale. According to the sole marketing agent, JLL, the reserve price for the enbloc is set at $148 million.
The 112-unit development, which was completed in 1982, sits on a land area of approximately 87,034 square feet and has a plot ratio of 2.1. It comprises of 14 penthouses, 2 towers with 98 apartment units, and 2 townhouses. Each apartment unit has an average size of 1,603 square feet.
The former La Ville Enbloc was previously launched for collective sale in 2018, with an asking price of $160 million. However, it failed to secure a buyer and the tender closed without any bids being received.
Now, with the property market showing signs of recovery and the recent upsurge in enbloc sales, the owners of La Ville are hopeful of a successful sale this time round.
The collective sale law, introduced in 1998, allows owners of strata-titled properties to sell their entire development in a single transaction, instead of individually. This can fetch a higher price for the owners as the developer can build a bigger project on the land.
According to JLL, the new reserve price translates to a land rate of approximately $1,445 per square foot per plot ratio (psf ppr), after taking into consideration the estimated development charges payable.
The top bid for La Ville’s collective sale is expected to be in the range of $153 million to $162 million, which translates to a land rate of $1,380 psf ppr to $1,460 psf ppr.
This puts La Ville in a favourable position, as the land rate is lower compared to surrounding sites that were sold recently. For instance, the land rate for Amber Park was $1,515 psf ppr while that of Meyer Mansion was $1,580 psf ppr.
If the enbloc sale is successful, each owner of La Ville can potentially receive between $1.32 million to $1.39 million, depending on the size of their unit.
The tender for La Ville will close on November 30 at 3pm, after which the owners will have to convene an extraordinary general meeting to approve the sale if the reserve price is met.
La Ville, a freehold development in Tanjong Rhu, has been put up for collective sale again with a reserve price of $148 million, announced JLL, the sole marketing agent, on Tuesday (Oct 26).
The development, which comprises of 112 units and was completed in 1982, sits on a land area of around 87,034 square feet. It has a plot ratio of 2.1 and consists of 14 penthouses, 2 towers with 98 apartment units, and 2 townhouses. The average size of each apartment unit is 1,603 square feet.
Formerly launched for collective sale in 2018 with an asking price of $160 million, La Ville Enbloc failed to secure a buyer and the tender closed without any bids received. However, with the current recovery of the property market and the recent surge in enbloc sales, the owners are hopeful for a successful sale this time.
The collective sale law, implemented in 1998, allows owners of strata-titled properties to collectively sell their entire development, resulting in a higher price compared to individual sales. This is because developers can build a larger project on the land.
JLL stated that the reserve price of $148 million translates to a land rate of approximately $1,445 per square foot per plot ratio (psf ppr), taking into account the estimated development charges payable.
It is expected that the top bid for La Ville’s collective sale will range from $153 million to $162 million, which translates to a land rate of $1,380 psf ppr to $1,460 psf ppr.
Compared to recent enbloc sales in the vicinity, La Ville has a lower land rate. For instance, Amber Park was sold at a land rate of $1,515 psf ppr while Meyer Mansion had a land rate of $1,580 psf ppr.
If the enbloc sale is successful, each owner of La Ville has the potential to receive between $1.32 million to $1.39 million, depending on the size of their unit.
The tender for La Ville will close on November 30 at 3pm, and if the reserve price is met, the owners will have to hold an extraordinary general meeting to approve the sale.