La Ville en bloc sale in its entirety to Hong Kong-based ZACD Group for $152 million. JLL Tan Hong Boon commented that the price tag equates to $1,540 per square foot per plot ratio (ppr). A unit land rate of roughly $1,477 per square foot per year would be the case with a 7% bonus gross floor area (GFA).
La Ville En Bloc:
Image credit: google earth
The 40-unit La Ville was erected in the 1980’s on 47,012 square feet of freehold property. The plot ratio of this residential property piece is 2.1. It might be rebuilt into a 107-unit new condominium with a mandatory average size of 85 sqm (915 sq ft).
This is La Ville’s third effort at a collective sale. In light of the $152 million sale price, Tan estimates that La Ville owners should anticipate to earn between $3 million and $5.9 million per unit.
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