D’Grove Villas will relaunch its collective sale tender at a minimum expected price of $392m which translates to a unit land rate of $2908 per sq ft per plot ratio, announced marketing agent Centaline Singapore on Wednesday (4 Sep).
Located at 8A Orange Grove road, D’Grove Villas is a 21-storey high with a total of 45 exclusive units, which sits on a 50,400 sq ft rare freehold site overlooking the Singapore Botanic Gardens and the bustling city skyline. D’Grove Villas is zoned for residential use, and has a gross plot ratio of 2.8 under the Urban Redevelopment Authority’s Master Plan 2014. Subject to approvals from the relevant authorities, it may be developed into a luxury condominium up to 36 storeys high with an approved gross floor area of 141,120 sq ft.
D’Grove Villas is also within walking distance to the Orchard Road shopping belt, close to Shangri-La hotel, and a few minutes’ drive to the Central Business District (CBD), Singapore Botanic Gardens and prestigious schools. Nearby are high-end private clubhouses, embassies, premium serviced apartments as well as good-class bungalows (GCBs).
Centaline Singapore KEO Mr Ronnie Khoo said: 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. We have also seen property sales picking up in the market, especially in the private home sector.
“Singapore is always seen as a haven of stability and is the most popular destination for property buyers. With the recent political turmoil happening in Hong Kong, as well as US-China trade tensions, we believed that interest in Singapore property could increase as property investors flock to Singapore.” He added.
The tender for D’Grove Villas closes at 3pm on September 30.
About Centaline (Singapore) Property Agency
Centaline (SG) Property Agency provides cross-border consultancy and agency services for overseas and local properties through Singapore office. As Centaline has built up an extensive network in Mainland China, Hong Kong, Macau, Taiwan and Singapore, Centaline Singapore acts as a bridge between vendors, purchasers, landlords, and tenants across these places.
About Centaline Property Agency
Centaline Property Group is one of Hong Kong's largest property agencies. With over 60,000 employees and 2,600 offices across China, Hong Kong, and Macau, the company is also one of the largest real estate agencies in the region.
The organization positions itself as Asia's one-stop property services company, offering services, including real estate valuation, property market research, asset management, and mortgage brokerage. In recent years, Centaline Property Group has expanded to Taipei and Singapore markets, and is gradually expanding in other Chinese-speaking continents in the world.