Discover The Arina East Residences – A Highly Promising Redevelopment Opportunity at the Former La Ville Enbloc Site Set to Close Tender on 30th November at 3 pm
The Former La Ville Enbloc site, now known as Arina East Residences, is a highly sought-after opportunity for developers seeking a successful redevelopment project. Its prime location and well-designed layout make it an enticing prospect in the real estate market. The bidding for the Arina East Residences site will end on 30 November at 3 pm, making it an urgent opportunity to seize. Don’t miss out on this chance to own a prime piece of property in the heart of the city.
The Arina East Residences has been hailed as a highly promising chance for developers on the lookout for a profitable redevelopment venture. The property, which is located in a prime location and boasts a mid-sized layout, has been described as an irresistible prospect for those in the real estate industry. The tender for the Former La Ville Enbloc site is set to close on the 30th of November at 3 pm.
JLL’s executive director of capital markets, Tan Hong Boon, is confident that the newly acquired site, formerly known as La Ville Enbloc, will draw strong interest due to its prime location and scarcity of similar residential projects in the Tanjong Rhu vicinity.
The site’s transformation into the highly anticipated Arina East Residences has sparked anticipation among developers and buyers alike. Boasting a coveted address and limited competition, this development opportunity is set to create a buzz in the market.
According to Boon, the site’s premium location is a major attraction for potential buyers. Situated in the well-established Tanjong Rhu area, it offers a desirable lifestyle with its close proximity to the city center and waterfront living. This, coupled with its freehold status, makes it a rare find in the current market.
Furthermore, the lack of comparable residential developments in the surrounding area is expected to drive up demand for Arina East Residences. With a limited supply of new homes in the Tanjong Rhu location, this development is poised to capture the attention of buyers looking for exclusive and high-quality living spaces.
Boon also notes that the enbloc sale of La Ville in 2018 has paved the way for Arina East Residences to rise in its place. With the former site’s redevelopment potential and prime location, it is no surprise that developers are eager to tap into this opportunity.
In summary, the former La Ville Enbloc site’s transformation into Arina East Residences has generated excitement in the market. Boasting a prime location and limited competition, it presents a rare opportunity for developers and buyers to own a coveted address in the prestigious Tanjong Rhu area.
Former La Ville Enbloc naturally is making a comeback with the highly anticipated Arina East Residences. Its strategic location, just 250 meters away from the upcoming Katong Park MRT station on the Thomson-East Coast line, is set to bring forth a wealth of benefits for the residents. The development is also within close proximity to Katong Park, East Coast Park beaches, and Gardens by the Bay, allowing for a well-rounded and convenient lifestyle.
The highly anticipated Arina East Residences is set to be the talk of the town with its prime location and easy accessibility. With the forthcoming Katong Park MRT station on the Thomson-East Coast line just a stone’s throw away, residents can look forward to seamless connectivity to various parts of the island. This is a major plus point for those who commute to work or school, as well as for individuals who enjoy exploring different parts of Singapore.
Furthermore, the development is also surrounded by a plethora of amenities that cater to different lifestyle needs. From the serene and picturesque Katong Park to the vibrant East Coast Park beaches, residents can enjoy a variety of outdoor activities and leisure options. For those who prefer a more urban setting, the iconic Gardens by the Bay is just a short distance away.
Arina East Residences is also situated in a highly sought-after area known for its rich heritage and vibrant culture. The Katong and East Coast neighbourhoods are well-known for their charming shophouses, cultural landmarks, and delectable food options. With so much to explore and experience in the vicinity, residents will never run out of things to do.
Former La Ville Enbloc has naturally paved the way for Arina East Residences to become a highly desirable development. The project’s prime location, in close proximity to the upcoming Katong Park MRT station and surrounded by various amenities, makes it an ideal choice for both investors and homebuyers. Don’t miss the opportunity to be a part of this vibrant and dynamic community.
The fortunate occupants of the Former La Ville Enbloc will have effortless access to a plethora of nearby conveniences. These include the popular Kallang Wave Mall, Parkway Parade shopping complex, and a diverse range of dining options along East Coast Road and in Tanjong Rhu. For those who appreciate local cuisine, the Old Airport Road Food Centre is just a stone’s throw away.
In addition to its bustling atmosphere and array of amenities, the area is also renowned for its reputable educational institutions. These include the well-regarded Dunman High School, Kong Hwa Primary School, and the esteemed Canadian International School (Tanjong Katong). With such exceptional schools within close proximity, parents can rest assured that their children’s educational needs will be well taken care of.
The former La Ville, a freehold property in Tanjong Rhu, has been put up for collective sale by JLL, the exclusive marketing agent, with a revised reserve price of $148 million. The announcement was made on Tuesday (Oct 26) after an unsuccessful attempt in June 2018, when the property was put on the market for $152 million. However, the tender was later discontinued due to the implementation of property cooling measures by the government in July of that year.
Former La Ville Enbloc has the potential for redevelopment, with the capacity to build around 107 residential units. Based on an average unit size of 85 square meters, the estimated maximum number of units is derived. The original asking price for the site reflects a land rate of $1,499 per square foot per plot ratio (psf ppr). However, after taking into consideration the 7% bonus gross floor area and the applicable development charge, the effective land rate is reduced to approximately $1,465 psf ppr.
A new development has surfaced as property owners, who hold a majority share of 80% in terms of value and floor area, have reached a unanimous decision to proceed with a collective sale at a reduced price. The iconic La Ville Enbloc project, comprising of 40 high-rise units constructed in the 1980s, is situated on a land area measuring 47,012 square feet and is zoned for residential purposes. In accordance with the Urban Redevelopment Authority’s latest 2019 Master Plan, the development is permitted a gross plot ratio of 2.1.