http://www.businesstimes.com.sg/spec...again-20130110

Published January 10, 2013

Villa Des Flores up for collective sale again

Its two previous attempts last year were unsuccessful

By zeinab yusuf saiwalla


VILLA Des Flores, a freehold development on Whitley Road has been put up for collective sale again, after two previously unsuccessful attempts last year.

The indicative price range remains unchanged at $160 million to $165 million or $1,533 to $1,581 per sq ft (psf), said DTZ.

The 41-unit condominium sits on a 104,370 sq ft land parcel and comprises 13 townhouses and 28 apartments.

Shaun Poh, DTZ's senior director for investment advisory services and auction, said previous bids for the site did not meet the indicative asking price.

He revealed that a handful of inquiries for the site were received after the closing period in October, prompting this third attempt at a collective sale.

"The interested parties have given some range, but we are trying to put it in a more competitive environment so that hopefully with more pressure they can better meet our price indications," said Mr Poh.

According to Master Plan 2008, the site can be developed into two-storey mixed landed housing.

The developer has the option to build detached, semi-detached, terrace housing or a combination of such, either based on conventional housing types or as a cluster housing development.

The tender closes on Jan 30 at 3pm.