{"id":99490,"date":"2018-10-10T10:35:38","date_gmt":"2018-10-10T03:35:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/"},"modified":"2018-10-10T11:03:13","modified_gmt":"2018-10-10T04:03:13","slug":"la-ville-condo-relaunched-with-lower-asking-price-of-140-6m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/","title":{"rendered":"La Ville condo relaunched with lower asking price of $140.6m"},"content":{"rendered":"


\nLa Ville is a 40-unit freehold condominium at Tanjong Rhu Road. (JLL)
\n$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.
\nMarketing agent JLL revealed on Tuesday (9 Oct) that most unit owners at La Ville, a 40-unit freehold condominium at Tanjong Rhu Road, have agreed to relaunch the project\u2019s en bloc tender, in addition to lowering the reserve price from $152 million to $140.6 million.
\nIn consultation with JLL and the lawyers from Dentons Rodyk, the Collective Sale Committee (CSC) proposed the price reduction to the owners during an Extraordinary General Meeting and this was approved.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nCurrently, more than 70 percent of the unit owners by total share value and overall floor area have signed a supplemental agreement to lower the price, shy of the minimum 80 percent requirement.
\nBased on La Ville\u2019s 47,012 sq ft land site, the lower reserve price translates to $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.
\nPreviously, the en bloc tender for La Ville was launched in May, but it closed without any takers. During the subsequent private treaty period, JLL continued negotiations with interested parties, but stopped due to the surprise announcement of new property curbs on 5 July. Thereafter, the CSC initiated a proposal to cut the reserve price.
\nLocated 250m from the future Katong Park MRT station, the development has an allowable gross plot ratio of 2.1. JLL added that the Land Transport Authority does not require a Pre-Application Feasibility Study (PAFS) on traffic impact regarding La Ville\u2019s redevelopment.
\nThe tender exercise for La Ville will close on 8 November.
\nMeanwhile, marketing agent Colliers International has refuted rumours that the en bloc sale of Tulip Garden has hit a roadblock after the government reportedly did not allow the would-be buyer to build its desired number of units on the site.
\n\u201cThere is no basis to the market speculation. The Tulip Garden collective sale is proceeding and we are working towards the completion of sale,\u201d its managing director Tang Wei Leng told the Business Times.
\nA joint venture between Hongkong Land subsidiary MCL Land and China-based Yanlord secured Tulip Garden in April for $906.9 million. Based on its site area of 316,708 sq ft, this translates to $1,790 psf ppr. Yanlord said the property has a plot ratio of 1.6 and can potentially yield up to 670 homes.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\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…La Ville condo relaunched with lower asking price of 0.6m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

La Ville is a 40-unit freehold condominium at Tanjong Rhu Road. (JLL) $1,424 psf ppr,...<\/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-99490","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-pSG","jetpack-related-posts":[{"id":122843,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-at-tanjong-rhu-up-again-for-collective-sale-price-lowered-to-148mil\/","url_meta":{"origin":99490,"position":0},"title":"La Ville at Tanjong Rhu up again for collective sale, price lowered to $148mil","date":"October 27, 2021","format":false,"excerpt":"\r La Ville at Tanjong Rhu\u00a0sits on a 47,012 sq ft site zoned for Residential use and is going for $148 million. The 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/La-Ville-condo-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":95549,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-st-thomas-ville-up-for-en-bloc-sale\/","url_meta":{"origin":99490,"position":1},"title":"Freehold condo St Thomas Ville up for en bloc sale","date":"August 7, 2018","format":false,"excerpt":"\r St Thomas Ville is located close to Orchard Road and the upcoming Great World MRT station. (Photo: JLL) St Thomas Ville, a 23-unit residential development in District 9, has been put up for sale, with the owners expecting bids in excess of $58 million, revealed marketing agent JLL. Located\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":99490,"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. Cairnhill Astoria in Cairnhill Rise and Trendale Tower\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87006,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":99490,"position":3},"title":"Two freehold properties launched for en bloc sale","date":"May 3, 2018","format":false,"excerpt":"\r Holland Tower in District 10 was put up for sale with a reserve price of $65 million. (Photo: SRI) More homeowners are trying their luck at collective sales, with two freehold developments launched at a combined price of $103 million. The Holland Tower condominium in District 10 was put\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":99490,"position":4},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84896,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/casa-meyfort-and-landmark-tower-up-for-collective-sale\/","url_meta":{"origin":99490,"position":5},"title":"Casa Meyfort and Landmark Tower up for collective sale","date":"April 10, 2018","format":false,"excerpt":"\r The 139-unit Landmark Tower near Pearl\u2019s Hill City Park has a reserve price of $285 million, or $1,400 psf ppr. (Photo: JLL) Encouraged by the 3.8 percent hike in private home prices in the Outside Central Region as per the Urban Redevelopment Authority\u2019s quarterly flash estimates, the owners of\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\/99490"}],"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=99490"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/99490\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=99490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=99490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=99490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}