D'Grove Villas relaunched for sale at $392m

It can be redeveloped into a 36-storey, 141,120 sqft luxury condo.

Freehold high-rise residential development D’Grove Villas has been relaunched for sale at a minimum expected price of $392m or $2,908 per sqft (psf) per plot ratio, marketing agent Centaline Singapore announced in a press release.

Located within District 10 in the Ardmore precinct, the 21-storey development sits on a 50,400 sqft site overlooking the Botanic Gardens. It 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, Centaline noted that D’Grove Villas may be redeveloped into a luxury condominium up to 36 storeys high with an approved gross floor area of 141,120 sqft.

D’Grove Villas was first launched for sale in March for $398m.

The development is also located near the Orchard Road shopping belt, close to Shangri-La hotel, and a few minutes’ drive to the Central Business District (CBD) and the Singapore Botanic Gardens.

“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,” noted Ronnie Khoo, Centaline Singapore KEO.

Also read: Foreigners race for Singapore's luxury properties

The tender for D’Grove Villas will close at 3PM on 30 September.