Subject to the relevant authorities’ approval, the 45-unit development may be redeveloped into a 36-storey condominium with an allowable gross floor area of 141,120 sq ft inclusive of balconies.
D’Grove Villas, a freehold high-rise condominium in prime District 10, has once again been put up for en bloc sale, with the asking price lowered to $392 million or $2,908 per sq ft per plot ratio (psf ppr).
Marketing agent Centaline Singapore first launched the property for collective sale in March, with a price tag of $398 million.
Located at 8A Orange Grove Road within the Ardmore precinct, the 21-storey condominium sits on a 50,400 sq ft site zoned residential under the 2014 Master Plan, with a 2.8 gross plot ratio, reported The Business Times.
Subject to the relevant authorities’ approval, the 45-unit development may be redeveloped into a 36-storey condominium with an allowable gross floor area of 141,120 sq ft inclusive of balconies.
It is within walking distance to the Orchard Shopping belt, with schools, Singapore Botanic Gardens and the central business district all a few minutes’ drive away. It is also near good class bungalows (GCBs), private clubhouses, serviced apartments and embassies.
“With the resurgence of property purchases by foreigners over the past couple of months, and several big-ticket GCB transactions in the vicinity, this premier neighbourhood will certainly add a boost to the land value,” said Centaline Singapore key executive officer Ronnie Khoo.
“We have also seen property sales picking up in the market, especially in the private home sector.”
The tender for D’Grove Villas closes on 30 September.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
