D’Grove Villas Condo in Prime District 10 Up for Collective Sale at S$420 Million
D’Grove Villas, a freehold high-rise condominium in the prestigious District 10, is back on the market for collective sale at S$420 million. This is the third attempt by the owners to sell the property en bloc after two previous efforts failed to secure a deal.
The guide price of S$420 million translates 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 around S$4.35 million to maximize the current plot ratio.
If the sale goes through, owners of the 45 spacious units in D’Grove Villas can expect to receive between S$6 million and S$16 million, depending on the size of their apartment. The development features three-bedroom units of 1,690 square feet, four-bedroom units ranging from 2,443 to 2,702 square feet, and two luxurious penthouses, each spanning 5,221 square feet.
D’Grove Villas, built in 1992, sits on a prime 50,400 square foot plot along Orange Grove Road, near the iconic Shangri-la Hotel. Its proximity to Orchard Road, Singapore’s premier shopping district, and the exclusive Ardmore Park estate makes it a highly sought-after location. According to the Urban Redevelopment Authority’s Master Plan 2019, the site is zoned for residential use with a gross plot ratio of 2.8.
The marketing agents, List Sotheby’s International Realty and Strata AMC, are optimistic about attracting strong interest from developers and investors this time around. The first collective sale attempt in 2019 was hindered by a weakened property market due to cooling measures introduced in July 2018, which made developers cautious about acquiring collective sale sites.
However, this latest attempt comes at a time when the market is seeing a few quiet spells, as evidenced by other recent en bloc sales, like the Pine Grove condominium, which failed to secure a bid in May despite being put up for sale for the fifth time since 2008. Additionally, freehold projects like The Beaumont and the 99-year leasehold Orchard Bel Air in the Orchard area also struggled to find buyers in 2022 and 2023, respectively.
The tender for D’Grove Villas closes at 2 pm on Oct 23, offering a rare chance for developers to create a landmark residential project in one of Singapore’s most coveted neighborhoods.
For those interested in the vibrant District 10, other nearby developments like Watten House and Nava Grove are also worth exploring. These properties represent prime opportunities for those looking to invest in Singapore’s exclusive residential market.
