Discover the Exciting Possibilities at Arina East Residences, Former La Ville Enbloc Redevelopment with 107 Spacious Residential Units Averaging 85 sqm
Arina East Residences will provide residents with a luxurious and modern living experience in the heart of the city.
The former La Ville Enbloc has undergone a transformation, giving rise to the impressive Arina East Residences. This upcoming development is planned to include about 107 deluxe residential units, each averaging at about 85 sqm (914.9 sq ft). With its prime location in the city, Arina East Residences promises residents a lavish and contemporary lifestyle.
The site of the former La Ville Enbloc has recently been put up for redevelopment, paving the way for the creation of Arina East Residences. This new development has the potential to offer approximately 107 residential units, with an estimated average size of 85 sqm (914.9 sq ft) per unit.
Formerly known as La Ville Enbloc, this housing development was built in 1987 by Tiong Lee Seng. The property, which is located on a land area of around 47,012 square feet, consists of 40 units and is zoned for residential purposes with a gross plot ratio of 2.1, as stated in the Urban Redevelopment Authority’s Master Plan for 2019.
The sale of Former La Ville Enbloc has been put on hold due to changes in government regulations for the residential market that were implemented on July 5, 2018. However, this collective sale has received significant backing, with more than 80% of owners consenting based on both the total share value and floor area.
The prime location of La Ville is one of its key strengths, with the upcoming Katong Park MRT Station on the Thomson-East Coast Line just a short stroll away. This strategic location offers convenient connectivity to both the Central Business District and Changi Airport, with a mere 10- and 15-minute car ride to reach these destinations. Formerly known as La Ville Enbloc, this development boasts a natural and well-connected community setting for its residents.
The Arina East Residences project presents an enticing opportunity for developers looking to establish a mid-sized, prestigious residential development. The bid for the redevelopment of La Ville into Arina East Residences is set to conclude on November 30 at 3pm. With the addition of the keyword, the sentence could be rephrased as: The redevelopment of Former La Ville Enbloc into Arina East Residences offers an alluring prospect for developers in search of a mid-sized, high-end residential project. The tender for the transformation of the former La Ville site will end on November 30 at 3pm.
This translates to a breakeven cost of $2,100 per square foot, after factoring in a development charge of approximately $6.0 million.
Tan Hong Boon, the executive director of capital markets at JLL, highlighted the alluring investment potential offered by the property, which was formerly known as La Ville Enbloc. He pointed out that the property’s minimum listed price of $148 million is equivalent to a competitive land rate of around $1,499 per square foot per plot ratio. This results in a breakeven cost of approximately $2,100 per square foot, taking into consideration a development charge of about $6.0 million.
The location of the site is also in close proximity to renowned educational establishments like Dunman High School, Chung Cheng High School, Kong Hwa Primary School, Canadian International School (Tanjong Katong), and Chatsworth International School (East). In addition, residents will have convenient access to popular shopping and dining destinations such as Parkway Parade, Kallang Wave Mall, and the Old Airport Food Centre.
The possibility of Former La Ville Enbloc being granted a 7% bonus gross floor area, coupled with the corresponding development charge, could result in an adjusted land rate of approximately $1,465 per square foot per plot ratio.
The former La Ville Enbloc, a freehold residential development situated on Tanjong Rhu Road, has recently been put up for collective sale once again. According to reports, the tender for the property was launched on October 26 and is currently being exclusively managed by JLL, the appointed marketing agent for the sale.
In a fresh attempt to secure a buyer, the proprietors of the property have made alterations to their minimum selling price to $148 million, which is a decrease from the initial $152 million set in June 2018 when the property was put up for tender.