{"id":122843,"date":"2021-10-27T02:55:28","date_gmt":"2021-10-26T19:55:28","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-at-tanjong-rhu-up-again-for-collective-sale-price-lowered-to-148mil\/"},"modified":"2021-10-27T11:03:23","modified_gmt":"2021-10-27T04:03:23","slug":"la-ville-at-tanjong-rhu-up-again-for-collective-sale-price-lowered-to-148mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-at-tanjong-rhu-up-again-for-collective-sale-price-lowered-to-148mil\/","title":{"rendered":"La Ville at Tanjong Rhu up again for collective sale, price lowered to $148mil"},"content":{"rendered":"


\nLa Ville at Tanjong Rhu\u00a0sits on a 47,012 sq ft site zoned for Residential use and is going for $148 million.
\nThe owners of La Ville at Tanjung Rhu are making their second attempt at a collective sale. The reserve price for the development has been lowered to $148 million, reported The Business Times (BT), citing sole marketing agent JLL.
\nThe freehold development was previously put up for en bloc sale in June 2018, carrying an asking price of $152 million. However, the tender for the property was halted after the government unveiled new property cooling measures in July 2018.
\nThe 40-unit high-rise development was built in the 1980s. It occupies a 47,012 sq ft site zoned for Residential use under the 2019 Master Plan, with an allowable gross plot ratio of 2.1.
\nBT noted that the site could be redeveloped into 107 housing units, with an average size of 85 sq m.
\nLa Ville\u2019s minimum price works out to a land rate of $1,499 per sq ft per plot ratio (psf ppr) or about $1,439 psf ppr after factoring in the additional 7% bonus gross floor area (GFA) as well as the corresponding development charge.
\nWith the upcoming Katong Park MRT Station on the Thomson-East Coast line just a 250 m walk away, the development is near Gardens By the Bay, Katong Park and beaches at East Coast Park.
\nIt is also close to various amenities, including Parkway Parade and Kallang Wave, with food and beverage options at Tanjung Rhu, East Coast Road and Old Airport Road Food Centre.
\nNearby schools include Kong Hwa Primary School, Canadian International School (Tanjong Katong) and Dunman High School.
\nTan Hong Boon, Executive Director of Capital Markets at JLL, expects the site to attract robust interest due to its sought-after address and convenience. He also noted that there is \u201cno supply of residential development sites in the Tanjong Rhu enclave\u201d.
\nTan added that the development offers \u201ccompelling redevelopment opportunity\u201d for \u201cdevelopers looking for mid-sized prime residential projects\u201d.
\nThe tender for La Ville closes on 30 November.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…La Ville at Tanjong Rhu up again for collective sale, price lowered to 8mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

La Ville at Tanjong Rhu\u00a0sits on a 47,012 sq ft site zoned for Residential use...<\/p>\n","protected":false},"author":1,"featured_media":122844,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-122843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/La-Ville-condo-crop.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vXl","jetpack-related-posts":[{"id":123594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chuan-park-in-private-negotiation-process\/","url_meta":{"origin":122843,"position":0},"title":"Chuan Park in private negotiation process","date":"December 3, 2021","format":false,"excerpt":"\r Located at 240 to 250 Lorong Chuan, Chuan Park is a\u00a099-year leasehold project and\u00a0occupies a 400,588.72 sq ft site; the property may be redeveloped into 900 to 919 units. Chuan Park condominium at Lorong Chuan is \u201cin a private treaty negotiation process\u201d which is expected to conclude next month,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/Chuan-Park.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":99490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/","url_meta":{"origin":122843,"position":1},"title":"La Ville condo relaunched with lower asking price of $140.6m","date":"October 10, 2018","format":false,"excerpt":"\r La Ville is a 40-unit freehold condominium at Tanjong Rhu Road. (JLL) $1,424 psf ppr, or $1,361 psf ppr after taking into account the 10 percent bonus balcony space. A development charge of about $7.2 million is payable as well. Marketing agent JLL revealed on Tuesday (9 Oct) that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88551,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/8-more-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":122843,"position":2},"title":"8 more properties launched for en bloc sale","date":"May 17, 2018","format":false,"excerpt":"\r Cairnhill Astoria (the red building) in prime District 9 has joined a growing list of properties launched for en bloc sale. (Photo: Colliers International) Singapore\u2019s red-hot collective sales market continues to sizzle with more homeowners jumping on the en bloc bandwagon. 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