D’Grove Villas Condo En Bloc Sale 2024

D’Grove Villas Condo Launches Third En Bloc Attempt with a $420 Million Guide Price

D’Grove Villas, a prestigious high-rise condominium nestled in the prime District 10, has once again been put up for collective sale, marking its third attempt to secure a deal.

The freehold property is seeking a guide price of S$420 million, equating to a land rate of approximately S$3,099 per square foot per plot ratio (psf ppr), inclusive of an estimated land betterment charge of S$4.35 million to maximize the site’s current plot ratio.

Situated on Orange Grove Road, a mere stone’s throw from the luxurious Shangri-la Hotel and Singapore’s vibrant Orchard Road shopping belt, D’Grove Villas boasts an enviable location near the exclusive Ardmore Park estate in the Tanglin area.

The residential property offers a total gross floor area of 141,121 sq ft on a plot of about 50,400 sq ft, zoned for residential use with a gross plot ratio of 2.8 under the Urban Redevelopment Authority’s Master Plan 2019.

The 20-storey development houses 45 large units, including three and four-bedroom units and two expansive penthouses.

Unit owners could receive between S$6 million and S$16 million from the sale, depending on their unit’s size, as outlined by joint marketing agents List Sotheby’s International Realty and Strata AMC.

“The initial launch in 2019 did not proceed due to cautious sentiment following the 2018 cooling measures which increased the Additional Buyer’s Stamp Duty for developers,” explained Bern Chen, Executive Director at Strata AMC. “This collective sale relaunch offers a rare opportunity for developers to create a landmark residential project in one of Singapore’s most sought-after neighborhoods.”

Despite previous unsuccessful attempts and a quiet market, the marketing agents are optimistic about drawing strong interest from developers and investors due to the site’s potential and prestigious location.

The tender for D’Grove Villas is set to close at 2 pm on October 23, making it a closely watched event in the real estate market.

With its strategic location and substantial development potential, D’Grove Villas represents a significant investment opportunity for those looking to develop in the heart of Singapore’s luxury district.