La Ville at Tanjong Rhu up again for collective sale, price lowered to $148mil
The homeowners of La Ville at Tj Rhu get taking their additional try at a combined sale. The save rate for the development has actually gotten brought down to $1hundred 48 mil, announced BT, mentioning single advertising and marketing agent Jones Lang LaSalle.
The free rental development happened to be previously put together intended for cumulative sale in Jun’18, offering an asking price of $1hundred 52 mil. But unfortunately, the offer with regards to the property was stalled as a result of the government revealed new residential property calming steps in Jul2K18.
The 40-unit skyscraper project was constructed in the 1980s. It utilizes a 47,012 sq foot location zoned for Residential application in the 2K19 Master Plan, with an allowable total plot ratio of 2.1.
BT mentioned in which the site may be rebuilt right into One hundred Seven home units, with a median size of 85 sq meter.
La Ville’s minimal deal works out to a property figure of $1,499 per sq ft per PR or almost $1thousand 4hundred 39 per sq feet per PR when considering the additional 7 percent bonus total floor surface area together with the related building cost.
Plus the future Katong Park train Terminal on the Thomson-East Coast line merely a Two hundred Fifty metre stroll away, the development is generally close to Gardens By the Bay, Katong Park as well as coastlines over at East Coast Park.
The development is likewise near to various services, including PP and Kallang Wave, with F & B options on Tanjung Rhu, East Coast Rd also Old Airport Rd FC.
Surrounding institutions consists of KHPS, Canadian International School (Tanjong Katong) also Dunman High School.
Tan Hong Boon, Exec Director of Capital Mkts from Jones Lang LaSalle, anticipates the site to catch the attention of robust curiosity due to its own in-demand address also convenience. Tan at the same time noticed that presently there will be “zero inventory of residence building locations inside the Tj Rhu territory”.
Tan included in which the project furnishes “strong rebuilding prospect” for “real estate investors seeking middle scale prime housing properties”.
The offer with regards to La Ville terminates on 30November.
