![[π
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24/02/2023
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The 40-unit La Ville, located at Tanjong Rhu, has been sold for $152 million to Hong Kong-listed property firm ZACD Group. The purchase price of $152 million translates to a land rate of $1,540 psf per plot ratio (ppr), says Tan Hong Boon, JLL executive director, the sole marketing agent.
After factoring in an additional 7% bonus gross floor area (GFA), the unit land rate will be about $1,477 psf ppr.
Built in the 1980s, the 40-unit La Ville sits on a freehold land area of 47,012 sq ft. The site is zoned residential with a plot ratio of 2.1 under the 2019 Master Plan. The site has the potential to be redeveloped into a new 107-unit condominium project based on an average size of 85 sqm (915 sq ft).
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