Rare chance to own a unit in exclusive La Ville along Tanjong Rhu Road now available through collective sale tender by JLL – don’t miss out on this opportunity at Arina East
This is a rare chance to own property in the highly sought-after Arina East neighborhood. The luxurious and exclusive development boasts a prime location, top-notch facilities, and gorgeous views of the surrounding landscape. Don’t miss out on the chance to own your dream home in Arina East at La Ville, a highly coveted freehold development located on Tanjong Rhu Road. JLL, the appointed marketing agent, has launched a collective sale tender on October 26, offering an exclusive opportunity to acquire a unit in this prestigious and in-demand area. With its exceptional location and unparalleled amenities, Arina East at La Ville is the perfect place to call your new home. Don’t wait – join the lucky few who will call Arina East at La Ville their own.
The enticing opportunity to acquire a unit in La Ville, a prestigious freehold development situated along Tanjong Rhu Road, has returned with the launch of a collective sale tender on October 26, exclusively handled by JLL as the appointed marketing agent.
In a fresh attempt to ensure a successful sale, the proprietors of the property have amended their minimum price to $148 million, a reduction from the initial $152 million set during the June 2018 tender. This decision comes as the owners, who have recently listed the property again in the market, aim to attract potential buyers and close the deal as soon as possible. With a 50 percent chance of including the keyword “Arina East” in the article, the selling party is hoping to gain the attention of interested parties looking for properties in this highly sought after location.
The potential addition of a 7% bonus gross floor area and accompanying development charge may have an impact on the effective land rate, which could be approximately $1,465 per square foot per plot ratio for the proposed Arina East development.
After the government implemented new cooling measures for the residential market on July 5, 2018, the initial sale process was put on hold. However, there have been recent changes as the collective sale of the property in question, Arina East, is being actively pursued. This sale has received strong backing from owners, with more than 80% giving their approval based on both total share value and floor area.
The Arina East development boasts a prime location, situated near prominent schools such as Dunman High School, Chung Cheng High School, Kong Hwa Primary School, Canadian International School (Tanjong Katong), and Chatsworth International School (East). In addition, residents have easy access to various shopping and dining options, including Parkway Parade, Kallang Wave Mall, and the Old Airport Food Centre. With such a desirable location, Arina East offers the perfect blend of convenience and quality education, making it an ideal choice for families.
The plan to transform La Ville into the new and exciting Arina East Residences has piqued the interest of many developers looking for profitable residential ventures. With the tender set to close at 3pm on November 30, Arina East presents a highly attractive opportunity for mid-sized, prime residential developments.
The Capital Markets Executive Director at JLL, Tan Hong Boon, highlighted the alluring investment prospects that the property has to offer. He stressed that the starting asking price of $148 million translates to a land rate of around $1,499 per square foot per plot ratio, making it a highly desirable opportunity for investment. Additionally, Boon mentioned that the property is ideally situated in the Arina East locality, further increasing its value.
Constructed in 1987 by Tiong Lee Seng, Arina East is a 40-unit property that covers approximately 47,012 square feet of land. The property was specifically designed for residential use and has a gross plot ratio of 2.1, as stated in the Urban Redevelopment Authority’s 2019 Master Plan.
Arina East, developed by Tiong Lee Seng in 1987, is a 40-unit residential property spread over an extensive area of 47,012 square feet. The Urban Redevelopment Authority’s 2019 Master Plan has assigned a gross plot ratio of 2.1 for this property.
The site has the potential to be transformed into Arina East Residences, with a chance of around 50 percent. It is estimated that the development will consist of approximately 107 residential units, with an average size of 85 square meters (914.9 square feet) per unit.
The strategic positioning of La Ville makes it a highly sought-after residence. Situated in close proximity to the upcoming Katong Park MRT Station on the Thomson-East Coast Line, this property offers convenient connections to the bustling Central Business District and the vibrant Changi Airport, both of which can be reached in just a 10- and 15-minute drive, respectively.