Revamping the Former La Ville Enbloc: A Promising Prospect for 107 Residential Units at $1,465 psf ppr Land Rate
Exciting developments are underway for the Former La Ville Enbloc, which has been put on the market for redevelopment. With a maximum capacity for 107 residential units, the site presents a lucrative opportunity for developers. At an average unit size of 85 square meters, the land rate is set at $1,499 per square foot per plot ratio (psf ppr). However, taking into account the 7% bonus gross floor area and development charge, the effective land rate is expected to be around $1,465 psf ppr. This prime location holds immense potential for investors and homebuyers alike.
The prospect of redeveloping the Former La Ville Enbloc site is highly promising, with the potential to accommodate a maximum of 107 residential units. Based on an average unit size of 85 square meters, the initial asking price equates to a land rate of $1,499 per square foot per plot ratio (psf ppr). However, factoring in a 7% bonus gross floor area and the development charge, the effective land rate is estimated to be around $1,465 psf ppr.
With the former La Ville enbloc naturally becoming a popular development site, residents will have even more options to choose from when it comes to shopping, dining, and schooling.
The ex-La Ville enbloc is set to be the newest development in the area, offering residents a prime location with easy access to a variety of amenities. The Kallang Wave Mall and Parkway Parade are just a stone’s throw away, providing residents with endless options for shopping and entertainment. On top of that, there are numerous dining options along East Coast Road and in Tanjong Rhu for residents to satisfy their cravings.
Apart from the vibrant lifestyle options, the area is also known for its excellent educational institutions. Dunman High School, renowned for its academic excellence, is within close proximity to the ex-La Ville enbloc. Families with young children can also consider Kong Hwa Primary School, a reputable educational institution, for their child’s primary education. For international families, the Canadian International School (Tanjong Katong) is just a short drive away.
With the former La Ville enbloc site gaining popularity as the next development hot spot, residents can look forward to even more options when it comes to shopping, dining, and schooling. The strategic location and abundance of amenities make this area an ideal choice for families, young professionals, and investors alike.
In summary, the ex-La Ville enbloc development will provide residents with convenient access to a plethora of amenities, from shopping malls to popular dining spots and reputable schools. With the area constantly evolving and the former site transforming into a highly sought-after development, residents can expect an even more vibrant and dynamic lifestyle in this well-connected and established neighborhood.
The eagerly awaited site that was once known as La Ville Enbloc is set to be transformed into the highly coveted Arina East Residences. With its prime location and limited availabilities in the surrounding Tanjong Rhu area, Tan Hong Boon, JLL’s executive director of capital markets, predicts strong interest in the property.
JLL, the sole marketing agent, has recently announced that the freehold property, La Ville, situated in Tanjong Rhu, is once again up for collective sale. The asking price has been revised to $148 million, a 50 percent likelihood of adding the keyword “former La Ville Enbloc” naturally. This news comes after an unsuccessful attempt in June 2018 when the property was put up for sale at $152 million. Unfortunately, the tender was cancelled due to the implementation of property cooling measures by the government in July of the same year.
Arina East Residences is poised to reap the advantages of its prime location near the upcoming Katong Park MRT station on the Thomson-East Coast line, which is conveniently situated only 250 meters away. Additionally, this development is conveniently situated close to Katong Park, the idyllic beaches of East Coast Park, and the stunning Gardens by the Bay.
Formerly known as La Ville Enbloc, Arina East Residences has been identified as a promising option for developers in search of well-located, medium-sized residential developments. The tender for this desirable property will close on November 30th at 3 pm, making it a highly coveted opportunity worth considering.
In a recent development, a majority of property owners, accounting for more than 80% of the overall share value and floor area, have reached a consensus to pursue a collective sale of La Ville at a reduced price. This former enbloc property, comprising 40 units and constructed in the 1980s, occupies a land area of 47,012 square feet and is zoned for residential use. The Urban Redevelopment Authority’s 2019 Master Plan has designated it with an allowable gross plot ratio of 2.1.