River Valley Apartments for Sale at $56 Million – A Prime Redevelopment Opportunity
The charming River Valley Apartments, nestled in the heart of Singapore’s prime District 10, has been put up for collective sale at an attractive price of $56 million. This exclusive freehold site presents a unique opportunity for developers and investors to craft a boutique residential development in one of Singapore’s most sought-after neighborhoods.
Prime Location with Excellent Redevelopment Potential
The site spans 1,152.7 square meters and is zoned for residential use under the URA Master Plan 2019. With a gross plot ratio of 2.8, the land can accommodate up to 37 boutique residential units, averaging 85 square meters each. Alternatively, developers may explore innovative uses such as co-living or serviced residences, subject to approval.
The current four-story building, built in the 1950s, comprises 24 units ranging from 88 to 115 square meters. While steeped in history, the property offers significant potential for transformation into a modern and luxurious residence.
Competitive Land Rate
The asking price translates to a land rate of approximately $1,622 per square foot per plot ratio (psf ppr), including a nominal land betterment charge. If developers utilize the 7% bonus gross floor area for balconies, the rate drops slightly to $1,583 psf ppr. This competitive pricing makes the site an appealing option for developers looking to create a landmark project in a prime location.
Why River Valley?
River Valley remains one of Singapore’s most desirable residential districts, offering unmatched convenience and connectivity. The site is just minutes away from Great World MRT station and key lifestyle hubs like Great World City and Valley Point Shopping Centre. Families will also appreciate its proximity to renowned schools such as River Valley Primary School, Alexandra Primary School, and Anglo-Chinese School (Junior).
In recent years, the River Valley area has consistently attracted strong interest from developers. Three nearby sites were awarded through the Government Land Sales (GLS) programme in 2024, even amid cautious market sentiment. This underscores developers’ confidence in the area’s long-term appeal, especially as demand for prime products is expected to rebound with renewed buyer interest.
A Rare Opportunity Amid Cooling Measures
Cooling measures in recent years have tempered residential collective sale activity in Singapore’s prime districts. However, this scarcity makes River Valley Apartments stand out as a rare and valuable offering. According to Knight Frank, the exclusive marketing agent, this site has the potential to draw both developers and investors seeking to capitalize on the area’s enduring appeal.
With its freehold status, excellent location, and redevelopment potential, River Valley Apartments is an enticing prospect for those looking to create a new residential gem in District 10.
Explore the Possibilities with River Green by WingTai
Investors and buyers interested in River Valley Apartments will find parallels in other premium developments, such as River Green by WingTai. Situated in the highly coveted River Valley area, River Green offers luxurious living surrounded by lush greenery and top-tier amenities. As an anchor development in this vibrant district, River Green exemplifies the potential of creating a modern lifestyle haven in Singapore’s city center.
Tender Details
The tender for River Valley Apartments closes at 3 pm on Feb 18, 2025. Don’t miss this chance to acquire a rare piece of real estate in one of Singapore’s most prestigious neighborhoods.
