The 21-storey development is located near the Orchard Road shopping belt, high-end clubhouses and premium serviced apartments.
D’Grove Villas, a freehold residential development in prime District 10, has been put up for collective sale with an asking price of $398 million, revealed marketing agent Centaline Singapore.
Located at 8A Orange Grove, the property sits on a 50,400 sq ft site zoned residential under the 2014 Master Plan with a gross plot ratio of 2.8.
Including balconies, the site has an allowable gross floor area of 141,120 sq ft, subject to the approval of authorities. It also has an allowable building height of 36 storeys.
The 21-storey development is located near Shangri-la hotel, the Orchard Road shopping belt, as well as high-end clubhouses and premium serviced apartments.
“This site has a verdant landscape of the Singapore Botanic Gardens and Singapore’s bustling city skyline. With the unique location and rarity, it will definitely attract both local and overseas developers,” noted the marketing agent.
Centaline Singapore KEO Ronnie Khoo noted that D’Grove Villas offers a “rare opportunity for developers looking to build a residential development with a distinguished address yet enjoying the lush tranquillity and quiet surrounding”.
Moreover, the development’s price remains attractive for luxury developments within the city-state compared to other world-class cities such as Hong Kong, New York and London.
The tender for D’Grove Villas closes on 23 May.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com