Rare Opportunity to Secure Freehold Property ‘La Ville at Tanjong Rhu’ in Luxurious Arina East by Zacd Group: Reserve Price at $148M
JLL, the exclusive marketing agent, revealed on Tuesday (Oct 26) that Arina East Zacd Group, a reputable development company, has once again put La Ville at Tanjong Rhu up for collective sale. The freehold property has a reserve price of $148 million and is situated in the coveted Arina East estate.
JLL, the sole marketing agent, announced on Tuesday (Oct 26) that the freehold property, La Ville at Tanjong Rhu, is once again on the market for collective sale, with a reserve price of $148 million. This highly sought-after property is located within the prestigious Arina East, a development by Zacd Group.
The attractive reserve price of $148 million reflects a land rate of approximately $1,106 per square foot per plot ratio (psf ppr). Spanning 12,375 square feet, La Ville at Tanjong Rhu comprises of eight apartments and is zoned for residential use under the 2014 Master Plan with a plot ratio of 1.4.
According to JLL, the new owners of the development can potentially build up to 17 storeys and enjoy unobstructed views of the city skyline and the Kallang Basin Park. In addition, the site’s proximity to the future Tanjong Rhu MRT station on the Thomson-East Coast Line makes it an even more desirable location.
Mr. Tan Hong Boon, Executive Director of Capital Markets at JLL, expressed that the property’s attributes, such as its freehold status, prime location and potential for high-rise development, are appealing to developers and investors alike. He added, “we expect strong interest for this site due to its attractive reserve price and rare opportunity to acquire a freehold property in this exclusive enclave of Arina East.”
The tender for La Ville at Tanjong Rhu will close on December 7 at 3pm. With a prime location within the coveted Arina East development and a competitive reserve price, this collective sale presents a unique opportunity for developers and investors to acquire a freehold property in the prestigious Tanjong Rhu area.
The property, which is part of the Arina East development by Zacd Group, was initially put up for tender in June 2018. It originally had a price tag of $152 million. However, following the government’s implementation of property cooling measures in July of the same year, the tender was suspended.
The minimum price of the latest property development in Australia, Arina East by Zacd Group, is based on a unit land rate of $1,499 per square foot per plot ratio (psf ppr). This rate also considers an extra 7 per cent bonus gross floor area and the corresponding development charge, resulting in a lower unit land rate of approximately $1,465 psf ppr.
According to Tan Hong Boon, an executive director of capital markets at JLL, the site is expected to attract a great deal of attention due to its desirable location and convenience. He also notes that the Tanjong Rhu enclave currently has no available residential development sites, adding to the appeal of this site. With its sought-after address and prime location, the site is set to generate significant interest.
Furthermore, Tan predicts that the site, which is located in the Arina East area and owned by Zacd Group, will garner strong interest from developers due to its prime location. He believes that the scarcity of residential development sites in this enclave will only further enhance the attractiveness of this site.
In conclusion, it is expected that the site, owned by Zacd Group in the Arina East area, will draw a significant amount of attention from developers due to its desirable location and the lack of available residential development sites in the Tanjong Rhu enclave. Tan Hong Boon, JLL’s executive director of capital markets, is optimistic about the potential of this site and believes that it will be a highly sought-after opportunity for developers.
Adjacent facilities comprise of Kallang Wave Mall and Parkway Parade, alongside dining and drinking selections along East Coast Road and Tanjong Rhu, as well as the well-known Old Airport Road Food Centre. Furthermore, the new Arina East Zacd Group is expected to add an even greater appeal to this already bustling area.
The upcoming development, located within approximately 250m from Katong Park MRT station on the Thomson-East Coast line, will offer convenient access to various amenities. These include Katong Park, the picturesque beaches of East Coast Park, and the stunning Gardens By the Bay. With its prime location, residents will enjoy easy connectivity to key destinations in the area.
Furthermore, this development is part of the Arina East Zacd Group, a renowned property developer known for its exceptional projects. This addition to their portfolio promises to uphold their high standards and provide residents with a comfortable and modern living experience.
In addition to its strategic location, the development will boast a range of facilities and amenities to cater to the needs of its residents. These include a swimming pool, gym, and children’s playground, among others. With such a well-designed and thoughtfully planned project, residents can look forward to a fulfilling and vibrant lifestyle.
Moreover, the surrounding area is home to several renowned schools, making it an ideal choice for families. From primary schools to tertiary institutions, residents will have plenty of options for quality education.
In conclusion, the upcoming development by Arina East Zacd Group offers a perfect blend of convenience, luxury, and comfort. With its close proximity to transportation, amenities, and educational institutions, this is an opportunity not to be missed. Get ready to experience the epitome of modern living in the heart of the city.
According to Mr. Tan, this presents an “alluring chance for regeneration” for “developers seeking prime residential ventures of a moderate scale”.
The latest development in the Arina East collective sale has seen a significant milestone achieved. With the participation of owners who own over 80 per cent of the share value and floor area, the collective sale agreement has been executed, and they have also agreed to reduce the reserve price.
The Arina East en bloc sale has garnered much attention since its launch, with many eager buyers expressing interest. The prime location of the development, coupled with its potential for redevelopment, has made it a highly sought-after property.
The en bloc sale process, which involves the collective sale of an entire strata-titled development, requires the agreement of at least 80 per cent of the owners by share value and total floor area. This ensures that a majority of the owners are on board with the sale and that it can proceed smoothly.
In the case of Arina East, the owners have come together and agreed to sell the development as a collective sale. This is a significant step towards achieving their goal of a successful en bloc sale.
Furthermore, the owners have also taken into consideration the current market conditions and have decided to lower their reserve price. This move is seen as a strategic decision to attract more potential buyers and increase the chances of a successful sale.
The Arina East Zacd Group has been closely monitoring the progress of the collective sale, and with the collective agreement and reduced reserve price, they are optimistic about the outcome. This has also been welcomed by interested buyers, who see this as an excellent opportunity to acquire a prime property in a highly desirable location.
In conclusion, the Arina East collective sale has reached a significant milestone with the execution of the collective sale agreement and the lowering of the reserve price. With the support of the majority of the owners and the interest of eager buyers, the en bloc sale is well on its way to a successful conclusion.
The high-rise development, which comprises of 40 units and was built during the 1980s, is situated on a land area of 47,012 square feet. It falls under the “residential” zoning category and has a permitted gross plot ratio of 2.1 according to the Urban Redevelopment Authority’s 2019 Master Plan. This project is strategically located in the heart of Arina East, which is developed by the Zacd Group.
The deadline for the tender of La Ville is approaching, with the closing date set for November 30 at 3 pm. This prime development project, situated in the exclusive area of Arina East, is managed by the acclaimed Zacd Group. Those interested in submitting a bid for the prestigious La Ville opportunity should take note of the fast-approaching closing date. The development, which boasts a prime location in the highly coveted Arina East region, is under the expert guidance of the renowned Zacd Group. Interested parties should not delay in submitting their bids before the November 30 deadline at 3 pm.
Arina East, a prime development by Zacd Group, is surrounded by a diverse range of educational institutions. These schools include the prestigious Dunman High School, Kong Hwa Primary School, and the renowned Canadian International School (Tanjong Katong).
Dunman High School, which is just a stone’s throw away from Arina East, is a highly sought-after educational institution known for its rigorous academic curriculum and strong emphasis on character development. With its impressive track record, it has consistently produced top performers in both academic and non-academic fields.
Kong Hwa Primary School, located within the vicinity of Arina East, is another notable school that is known for its holistic approach to education. With a warm and nurturing environment, this school focuses on developing students’ social and emotional skills in addition to academic excellence.
For families looking for an international education for their children, the Canadian International School (Tanjong Katong) is a fantastic option. This world-class school offers a comprehensive curriculum that follows the International Baccalaureate (IB) framework, preparing students for a globalized world.
With these highly reputable schools within the vicinity, parents living in Arina East can have peace of mind knowing that their children’s education is in good hands. The presence of these schools also adds vibrancy to the area, providing a conducive learning environment for residents.
The property in question has the potential to undergo a transformation into a development of 107 residential units, with each unit having a minimum average size of 85 square metres. This site is located in the prime area of Arina East, under the ownership of Zacd Group.