Enbloc news: Villa Des Flores…yet again!

Villa Des Flores, a freehold development on Whitley Roadhas been up for collective sale again, after two previous unsuccessful attempts last year.

The indicative price range remains unchanged at $160 million to $165 million or $1,533 to $1,581psf, said DTZ.

The 41-unit condominium sits on a 104,370sqft land parcel and comprises 13 townhouses and 28 apartments.

Shaun Poh, DTZ’s senior director for investment advisory services and auction, said previous bids for the site did not meet the indicative asking price.

He revealed that a handful of inquiries for the site were received after the closing period in October, prompting this third attempt at a collective sale.

According to Master Plan 2008, the site can be developed into two-storey mixed landed housing.

The developer has the option to build detached, semi-detached, terrace housing or a combination of such, either based on conventional housing types or as a cluster housing development.

The tender closes on Jan 30 at 3pm.

Click on link below to read our previous posts on the Villa Des Flores collective sale:
http://www.sgproptalk.blogspot.sg/2012/10/enbloc-news-second-try-for-villa-des.html

Enbloc news: Second try for Villa des Flores

Villa des Flores, a 41-unit condominium located on a prime freehold site in upmarket Whitley Road is up for collective sale in the second attempt by owners there to find a buyer.

It was first put on sale in June this year without success, but marketing agent DTZ said the recent announcement of the Thomson MRT Line is likely to spur developers’ interest in the plot.

The future Mount Pleasant station is close to the site.

The indicative price range is $160 million to $165 million or $1,533 to $1,581psf, said DTZ. Villa des Flores sits on a 104,370sqft land parcel, comprises 13 townhouses and 28 apartments and is more than 20 years old.
                                                               
While the first tender attracted some interest, none of the parties was able to meet the reserve price. However, the recent successful collective sales of Thomson View Condominium, Chateau Eliza at Mount Elizabeth and Green Lodge in Toh Tuck Road have improved sentiment in the market.

The wife and I understand that there is no change in the asking price from their last unsuccessful attempt in June 2012. And strangely enough, we cannot find our report on Villa des Flores’ first en bloc attempt. So either we had completely overlooked it, or it was one of those posting that we had to “erase” from our blog rather hastily last week…

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