{"id":61174,"date":"2017-07-19T10:27:17","date_gmt":"2017-07-19T03:27:17","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/villa-deste-back-in-the-collective-sale-market\/"},"modified":"2017-07-19T10:34:48","modified_gmt":"2017-07-19T03:34:48","slug":"villa-deste-back-in-the-collective-sale-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/villa-deste-back-in-the-collective-sale-market\/","title":{"rendered":"Villa D\u2019Este back in the collective sale market"},"content":{"rendered":"


\nNestled within a good class bungalow area, the site is zoned for residential use under the\u00a0Urban Redevelopment Authority\u2019s 2014 Masterplan. (Photo: CB Richard Ellis)
\nVilla D\u2019Este, a 12-unit condominium project in Dalvey Road, has been put up for collective sale again, with an indicative price of S$96 million, reported The Straits Times.
\nThis translates to around S$1,730 psf based on the land area of 55,480 sq ft, said marketing agent CBRE, adding that no development charge is payable for the freehold property.
\nIt revealed that 10 out of the 12 homeowners, or around 83 percent, had agreed to the en bloc sale.
\nIn fact, the owners started the collective sale process nine months ago when some \u201cgreen shoots\u201d indicated that the \u201cresidential market was poised for recovery\u201d, said CBRE capital markets director Galven Tan.
\n\u201cIt\u2019s hard to time the market\u2026 but by a stroke of good luck, we see developers turning more aggressive in land acquisition now,\u201d he added.
\nEach home owner is set to gain between S$7.5 million and S$8 million from the sale.
\nIn 2015, the condominium project was put up for en bloc sale for S$115 million, but had no takers partly due to the hefty price tag as well as the weak market confidence given that the government had just began implementing the property cooling measures then.
\nNestled within a good class bungalow area, the site is zoned for residential use under the Urban Redevelopment Authority\u2019s 2014 Masterplan. The zoning provides various redevelopment potential for the property, said CBRE. The plot can be redeveloped into 24 apartment units with an average size of 2,000 sq ft or one to three good class bungalows.
\n\u201cNew condominium developments located within good class bungalow areas are extremely sought after by foreigners\u2026 Both developers from Singapore and the region will be very keen on the opportunity,\u201d noted Tan.
\nThe tender for the property will close on 25 August.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Villa D\u2019Este back in the collective sale market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nestled within a good class bungalow area, the site is zoned for residential use under...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-61174","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fUG","jetpack-related-posts":[{"id":87737,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kop-buys-villa-deste-for-93m\/","url_meta":{"origin":61174,"position":0},"title":"KOP buys Villa D\u2019Este for $93m","date":"May 11, 2018","format":false,"excerpt":"\r The 12-storey development sits on a 55,000 sq ft site, which KOP intends to redevelop into a high-end condominium. (Photo: CBRE) Homegrown developer KOP Limited, via its indirect wholly-owned subsidiary Dalvey Breeze, has agreed to acquire the freehold Villa D\u2019Este condominium for $93 million. Located at Dalvey Road in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61838,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lakepoint-condo-eyeing-en-bloc-sale-site-bigger-than-shunfu-ville\/","url_meta":{"origin":61174,"position":1},"title":"Lakepoint condo eyeing en bloc sale, site bigger than Shunfu Ville","date":"July 26, 2017","format":false,"excerpt":"\r View of the Lakepoint condominium at Lakepoint Drive. (Photo: Jianwei Huang) Owners of the ageing Lakepoint condominium near Lakeside MRT station are believed to be exploring opportunities to go en bloc in the next two years, or even earlier, according to some residents with knowledge of the matter. PropertyGuru\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36196,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-projects-to-go-en-bloc-in-2017\/","url_meta":{"origin":61174,"position":2},"title":"More projects to go en bloc in 2017","date":"November 28, 2016","format":false,"excerpt":"\r Raintree Gardens was one of the successful en bloc properties this year. Market watchers expect more residential properties to go en bloc in 2017, following the success of three collective sales this year, reported The Business Times. \u201cNext year, I expect more \u2014 \u00a0and a wider range of \u2014\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88411,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fernhill-court-up-for-sale-at-reserve-price-of-125m\/","url_meta":{"origin":61174,"position":3},"title":"Fernhill Court up for sale at reserve price of $125m","date":"May 16, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,885 psf ppr, after factoring in a development charge of $3.7 million. (Photo: Colliers International) Fernhill Court, a prime freehold development located next to the Nassim Road, Dalvey Road and White House Park Good Class Bungalow (GCB) areas in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84560,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-estoril-sold-in-fourth-attempt-at-collective-sale\/","url_meta":{"origin":61174,"position":4},"title":"The Estoril sold in fourth attempt at collective sale","date":"April 5, 2018","format":false,"excerpt":"\r The sale price of $223.9 million works out to a land rate of about $1,654 psf per plot ratio. (Photo: CBRE) The Estoril condominium at 95 & 97 Holland Road has finally been sold for $223.9 million, following a fourth collective sale attempt, said marketing agent CBRE on Wednesday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68318,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-mansions-to-go-on-sale-for-362m\/","url_meta":{"origin":61174,"position":5},"title":"Cairnhill Mansions to go on sale for $362m","date":"October 6, 2017","format":false,"excerpt":"\r The 18-storey Cairnhill Mansions comprises 61 apartments. (Photo: CBRE) The freehold Cairnhill Mansions project in District 9 will be launched for collective sale in a few weeks\u2019 time, marketing agent CBRE revealed on Thursday (5 October). The 61-unit project has a guide price of $362 million, which works out\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61174"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=61174"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61174\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=61174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=61174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=61174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}