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La Ville Condo in Tanjong Rhu was sold to ZACD Group for $152 million. According to Tan Hong Boon, managing director of JLL, the exclusive marketing agency, the acquisition price of $152 million corresponds to a land rate of $1,540 psf per plot ratio (ppr).
The unit land rate will be at $1,477 psf ppr after accounting for an extra 7% bonus gross floor area (GFA).
This is La Ville’s third effort at a collective sale. The consenting owners were advised on the collective sale by Lee Liat Yeang, a senior partner in Dentons Rodyk’s Real Estate practice group. The collective sale has been approved by more than 80% of the owners.
According to Tan, the owners of La Ville will get between $3 million and $5.9 million per unit based on the $152 million transaction price.
La Ville Location
The 40-unit La Ville was built in the 1980s and located on a freehold land area of 47,012 sq ft. According to the 2019 Master Plan, the property is designated residential with a plot ratio of 2.1. Based on an average size of 85 sqm, the land has the potential to be rebuilt into a new 107-unit condominium complex (915 sq ft).
Former La Ville New Condo Registration of Interest
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Review of Former La Ville
La Ville
La Ville Condo in Tanjong Rhu was sold to ZACD Group for $152 million to ZACD Group. According to Tan Hong Boon, managing director of JLL, the exclusive marketing agency, the acquisition price of $152 million corresponds to a land rate of $1,540 psf per plot ratio (ppr).
Product SKU: La Ville
Product Brand: Property Review
Product Currency: SGD
Product Price: 15200000
Product In-Stock: InStock
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