KOP Buys Villa D’Este for $93m
Singapore listed KOP Ltd and its subsidiaries has bought Villa D’Este in an en bloc with the price value of $93 million. This freehold 55,000 sq ft area site with 12 apartments is placed in Good Class Bungalow enclave of Dalvey estate in prime District 10. Yet, it could be redeveloped onto a new condominium with present gross floor area cover of 49,072 sq ft. If the development charges of $130,000 are included, the sales price sets to $1,898 psf per plot ratio.
Having the successful end of the collective sale, the Villa D’Estate owners would walk get between $7.57 and $8.07 million each, as per Galven Tan, CBRE executive director of capital markets. This sets to be the second collective sales attempt by Villa D’Este. Its first collective sale attempt being during the year 2010, and its price value was $115 million.