La Ville Condo Sold En Bloc to ZACD Group for S$152 million

La Ville Condo Sold En Bloc to ZACD Group for S$152 million

ZACD Group Won the Bidding War and Successfully Acquired the Tanjong Rhu Freehold Site

This Marks the 8th Sites SOLD in 2021 and Total Collective Sales Now Reach S$1.43 billion

La Ville, a freehold residential development within district 15 has successfully sold en bloc for S$152 million.

JLL Singapore, their appointed marketing agent for the sale happily announced the news and said that the attractive site close to Katong Park MRT was sold above the owners asking price.

The agent reported that since the Tanjong Rhu site was put up for sale in October this year, it had attracted several parties and finally went to the highest bidder – ZACD Group.

The sale price of S$152 million works out to a land rate approximately S$1,540 psf ppr.

After factor in development charge and additional 7% bonus gross floor area, the land rate will bring down to S$1,477 psf ppr.

Base on the sale price and according to unit’s size owned by the owners, each of them will receive between S$3 and S$5.9 million.

La Ville Site Information

La Ville collective site is located at 6C, 6D Tanjong Rhu Road within district 15 of Singapore.

La Ville Condo comprises of 40-unit and occupies an area of 47,012 square feet.

Under URA Master Plan 2019, the freehold site is zoned for “residential” and has a gross plot ratio of 2.1.

The enbloc site has an advantage with the upcoming Katong Park MRT Station which located just 250 metres away.

Traveling to Central Business District via the East Coast Parkway takes only 10-minute drive.

Beside close to top attraction “Marina Bay Sands”, La Ville is nearby to the Singapore Sports Hub, Parkway Parade, Kallang Wave Mall, Decathlon Singapore Lab, Singapore Swimming Club and Marina Bay Golf Course.

Serval schools found within the area are Canadian International, Chatsworth International, Kong Hwa Primary, Cheung Cheng High and Dunman High.

La Ville Hit and Miss 2018

A prior effort was made in May 2018, when a tender was issued with a S$152 million asking price, but discussions with interested parties during the private treaty period were halted when the July 2018 cooling measures were implemented.

“Indeed, on the eve of the announcement of the July 2018 cooling measures, JLL brought in an acceptable offer meeting, our then reserve price via private treaty only to be tempered before the start of our negotiation process,” Johnny Cheung, chairman of the collective sale committee for this and previous attempts, said.

“I could appreciate our fellow owners’ dismay over the close call,” he continued.

He is glad that the deal is finally sealed this time around in 2021.

La Ville Condo En Bloc Details
La Ville Condo Sold En Bloc Pinterest
  • Status: SOLD

  • Tenure: Freehold

  • Land Size: 47,012 sq ft

  • Plot Ratio: 2.1

  • Total Units: 40

  • Address: 6C, 6D Tanjong Rhu Road

  • Nearest MRT: Katong Park

  • District: 15

  • Marketing Agent: JLL Singapore

  • Reserve Price: S$148 million

  • Sale Price: S$152 million

  • Date of Sale: Dec 2021

  • No. of Attempts: 3

  • Buyer: ZACD Group

  • New Development: TBA

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