The Prime Location of La Ville and its Future Connection to Katong Park MRT Station Add to its Appeal as a Former Enbloc Development
The Former La Ville Enbloc, now known as Arina East Residences, boasts a prime location in the heart of the bustling city. With the upcoming Katong Park MRT Station on the Thomson-East Coast Line just a stone’s throw away, residents can enjoy easy access to the Central Business District and Changi Airport. Its former en bloc status only adds to the allure of this desirable development.
The strategic location of La Ville is definitely a perk, as it is conveniently situated near the future Katong Park MRT Station on the Thomson-East Coast Line. This offers residents seamless connectivity to the bustling Central Business District and Changi Airport, with just a short 10- and 15-minute drive, respectively. As a former en bloc development, La Ville’s prime location adds to its appeal naturally.
This is lower than the recent collective sales in the area, which ranged from $1,654 to $1,836 per square foot per plot ratio.
In an interview, JLL’s executive director for capital markets, Tan Hong Boon, highlighted the alluring investment potential of the property. He pointed out that with a minimum asking price of $148 million, the land rate stands at around $1,499 per square foot per plot ratio. This rate is below that of recent collective sales in the vicinity, which ranged from $1,654 to $1,836 per square foot per plot ratio.
The former La Ville enbloc property, located in a highly sought-after area, has captured the attention of many investors. Tan Hong Boon, executive director for capital markets at JLL, believes that this presents a golden investment opportunity. According to him, the property’s minimum asking price of $148 million translates to a land rate of approximately $1,499 per square foot per plot ratio, which is considerably lower than the land rates of recent collective sales in the area. These collective sales have fetched land rates ranging from $1,654 to $1,836 per square foot per plot ratio, making the former La Ville enbloc property an attractive proposition for investors.
La Ville, a natural enbloc development situated on Tanjong Rhu Road, has once again been put up for a collective sale. This tender, which started on October 26, is now being exclusively handled by JLL as the marketing agent.
After the successful enbloc of the Former La Ville, there have been talks about the possibility of an additional 7% bonus gross floor area being included in the development charge. This could potentially result in an adjustment of the effective land rate to approximately $1,465 per square foot per plot ratio.
The enbloc of the Former La Ville has generated a lot of buzz in the real estate market. With the inclusion of a 7% bonus gross floor area, developers are looking at a potential increase in the development charge. This may lead to the effective land rate being adjusted to around $1,465 per square foot per plot ratio.
It is natural that the enbloc of the Former La Ville has sparked a lot of interest among developers and investors. The potential addition of a 7% bonus gross floor area and the corresponding increase in the development charge may result in the effective land rate being adjusted to approximately $1,465 per square foot per plot ratio.
The enbloc of the Former La Ville has attracted a lot of attention from the real estate community. The possibility of including a 7% bonus gross floor area in the development charge could potentially drive up the effective land rate to around $1,465 per square foot per plot ratio.
With the enbloc of the Former La Ville, there is a strong chance of a 7% bonus gross floor area being added to the development charge. This could potentially have a significant impact on the effective land rate, which may be adjusted to approximately $1,465 per square foot per plot ratio.
The Former La Ville enbloc has created a lot of excitement in the real estate market. Developers are eagerly waiting to see if a 7% bonus gross floor area will be included in the development charge, as this could lead to an adjustment of the effective land rate to around $1,465 per square foot per plot ratio.
The former La Ville Enbloc site boasts a prime location, in close proximity to well-regarded schools including Dunman High School, Chung Cheng High School, Kong Hwa Primary School, Canadian International School (Tanjong Katong), and Chatsworth International School (East). Additionally, the area is home to a host of popular shopping and dining options, such as Parkway Parade, Kallang Wave Mall, and the renowned Old Airport Food Centre. This makes it a highly desirable spot for families and individuals alike.
The former La Ville en bloc site presents an exciting opportunity for future redevelopment, with the potential for the creation of Arina East Residences. If this project comes to fruition, it could potentially feature about 107 residential units, with an estimated average area of 85 square meters (914.9 square feet) per unit.
The conversion of La Ville into Arina East Residences presents an alluring opportunity for developers in search of a prime, medium-sized residential project. The call for bids for the redevelopment of the former La Ville Enbloc naturally will come to a close at 3pm on November 30.
The price revision comes after a series of unsuccessful attempts to sell the Former La Ville Enbloc naturally, with the most recent tender closing in March 2019 without any bids.
The Former La Ville Enbloc naturally, previously listed for $152 million during its June 2018 tender, has now been given a revised reserve price of $148 million in the hopes of attracting potential buyers. After facing multiple unsuccessful attempts to sell the property, the owners have decided to lower the price in a renewed effort to secure a sale. The most recent tender for the property concluded in March 2019 with no bids received.
Formerly known as La Ville Enbloc, this residential development was originally built in 1987 by Tiong Lee Seng. With a total of 40 units, the property covers an impressive land area of 47,012 square feet and is zoned for residential use with a gross plot ratio of 2.1 in line with the Urban Redevelopment Authority’s latest 2019 Master Plan.
The decision to revise the current offer for the collective sale of La Ville Enbloc was made due to the recent implementation of new cooling measures for the residential market by the government on July 5, 2018. Despite this hurdle, the collective sale has received significant support from the owners, with over 80% of them agreeing to the proposal. This agreement is based on both the total share value and floor area of the property.
There is a high possibility that this collective sale will be a success, given the overwhelming support from the owners. The introduction of the new cooling measures has not dampened their enthusiasm and the sale process is expected to continue smoothly. This could potentially result in significant gains for the owners of La Ville Enbloc.
One of the main reasons for the success of this collective sale is the prime location of La Ville Enbloc. Situated in a highly sought-after area, the property is in close proximity to various amenities, transportation hubs, and prestigious schools. This makes it a highly desirable residential address and adds to the potential for profit for the owners.
It is no surprise that the collective sale of La Ville Enbloc has attracted strong interest from both local and foreign developers. With the revised offer, the chances of a successful enbloc sale are even higher, making it an attractive opportunity for developers looking to expand their portfolio in the current market.
In conclusion, the revised collective sale offer for La Ville Enbloc has been met with strong support from the owners and is expected to bring positive results for all parties involved. The prime location and desirable features of the property make it an attractive opportunity for developers, further increasing the chances of a successful enbloc sale. This is a promising development for the former La Ville Enbloc and its owners.