{"id":87737,"date":"2018-05-11T09:41:26","date_gmt":"2018-05-11T02:41:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/kop-buys-villa-deste-for-93m\/"},"modified":"2018-05-11T10:05:33","modified_gmt":"2018-05-11T03:05:33","slug":"kop-buys-villa-deste-for-93m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kop-buys-villa-deste-for-93m\/","title":{"rendered":"KOP buys Villa D\u2019Este for $93m"},"content":{"rendered":"


\nThe 12-storey development sits on a 55,000 sq ft site, which KOP intends to redevelop into a high-end condominium. (Photo: CBRE)
\nHomegrown developer KOP Limited, via its indirect wholly-owned subsidiary Dalvey Breeze, has agreed to acquire the freehold Villa D\u2019Este condominium for $93 million.
\nLocated at Dalvey Road in prime District 10, the 12-unit development sits on a 55,000 sq ft site, which KOP intends to redevelop into a high-end condominium.
\nMore: Property Investment Sales To Hit $46 Billion In 2018
\n\u201cThe key attractiveness of the site is that it enjoys the prestigious GCB address on Dalvey Road, which is extremely sought after by locals and foreigners. Yet it is conveniently located within 350m from the upcoming Stevens interchange (Thomson East-Coast Line) and Stevens MRT station,\u201d said Galven Tan, executive director, CBRE Capital Markets Singapore.
\nHe noted that the owners can expect gross proceeds of between $7.75 million and $8.07 million from the successful sale.
\nIn an SGX filing, KOP revealed that the acquisition \u2013 which is not expected to materially affect its net tangible assets and earnings per share for the financial year ending 31 March 2019 \u2013 will be funded by a combination of internal resources and external borrowings.
\nVilla D\u2019Este was first put up for en bloc sale in 2010 at $115 million, but had no takers partly due to its hefty price tag and weak market confidence given that the government had started introducing property cooling measures, reported the Business Times.
\nIt was launched for tender again in July last year with a $96 million asking price, and in January this year, with the tender closing in early March. As such, the sale to KOP was made via private treaty negotiations within the 10-week period following the latest tender exercise.\u00a0
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…KOP buys Villa D\u2019Este for m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 12-storey development sits on a 55,000 sq ft site, which KOP intends to redevelop...<\/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-87737","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-mP7","jetpack-related-posts":[{"id":61174,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/villa-deste-back-in-the-collective-sale-market\/","url_meta":{"origin":87737,"position":0},"title":"Villa D\u2019Este back in the collective sale market","date":"July 19, 2017","format":false,"excerpt":"\r Nestled 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) Villa 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92410,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dalvey-court-in-district-10-up-for-en-bloc-sale-at-160m\/","url_meta":{"origin":87737,"position":1},"title":"Dalvey Court in District 10 up for en bloc sale at $160m","date":"June 26, 2018","format":false,"excerpt":"\r Dalvey Court is located close to Stevens MRT station and the Singapore Botanic Gardens. (Photo: Cushman & Wakefield) Dalvey Court, a freehold nine-storey residential development at 28 Dalvey Estate in District 10, has been put up for en bloc sale with a reserve price of $160 million, revealed marketing\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":87737,"position":2},"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":61838,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lakepoint-condo-eyeing-en-bloc-sale-site-bigger-than-shunfu-ville\/","url_meta":{"origin":87737,"position":3},"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":95165,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dalvey-road-gcb-up-for-sale-offers-expected-at-over-100m\/","url_meta":{"origin":87737,"position":4},"title":"Dalvey Road GCB up for sale, offers expected at over $100m","date":"August 1, 2018","format":false,"excerpt":"\r \u00a0 A 51,058 sq ft Good Class Bungalow (GCB) at Dalvey Road has been put up for sale, with expectations that it could attract offers in excess of $100 million, revealed marketing agent JLL. Located within White House Park GCB Area, the two-storey bungalow sits on elevated grounds at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23341,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/30m-gcb-put-up-for-auction\/","url_meta":{"origin":87737,"position":5},"title":"$30m GCB put up for auction","date":"August 19, 2016","format":false,"excerpt":"\r The 15,211 sq ft property in Dalvey Estate is currently being rented out at $26,000 per month. 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