Villa Des Flores up for collective sale at $180 mil
/ EdgeProp Singapore |
Villa Des Flores (Picture: SRI)
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SINGAPORE (EDGEPROP) - Villa Des Flores, a residential development located on Whitley Road in District 11, is up for collective sale via public tender with a guide price of $180 million. The freehold project built in 1985 comprises 13 townhouses of 2,034 to 2,702 sq ft and 28 apartment units of 1,378 to 2,088 sq ft.
Based on the land area, the guide price works out to $1,725 psf (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The development sits on an elevated, cul-de-sac site spanning about 104,370 sq ft that is zoned for two-storey mixed landed residential use. Based on the land area, the guide price works out to $1,725 psf.
The plot can potentially be redeveloped into a project comprising bungalows, semi-detached houses and terrace houses, says appointed marketing agent SRI. The site may also be redeveloped in a condo with a gross floor area (GFA) not exceeding Villa Des Flores’ existing GFA, subject to approval from the relevant authorities, SRI adds.
Map showing Villa Des Flores (Source: EdgeProp LandLens)
Villa Des Flores is nestled among the landed housing enclaves flanked by Whitley Road and Chancery Hill Road. “The sprawling site, coupled with the serene surroundings of Whitley Road, will be appealing to developers,” says Low Choon Sin, managing partner of SRI Capital Markets. He also highlights that the site, which is located in the Core Central Region, is a timely opportunity amid the rising demand for landed homes.
Recent transactions of comparable developments in District 11 with a two-storey mixed landed zoning include the en bloc sale of Kew Lodge to Aurum Land for $66.8 million ($1,940 psf) in May. In March, three freehold bungalows on a 32,148 sq ft site at the junction of Chancery Hill Road and Dyson Road were sold to Sustained Land for $61.08 million ($1,900 psf).
Latest resale transactions at Villa Des Flores (Source: EdgeProp Research)
The tender for Villa Des Flores will close on Jan 16, 2024 at 3pm.
Check out the latest listings for Villa Des Flores properties
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