Owners of 22 private apartments within the 34-yr old freehold property, previously named AA Centre, have jointly put up their units for sale, and they are asking for a price within the range of S$86 million and S$90 million.
The public tender for this 14-storey property along 336 River Valley Road closes in the afternoon of June 6, 2018.
The apartments that are subject of the sale cover the 7th to the 14th floor of 336 RV, as the units in the 1st to 6th floor were sold by Automobile Association to Far East Organization in 2013 and are now used as office space.
According to Richmond Capital Investments, the property consultant handling the bulk sale, the potential buyer could acquire 49,805 sq ft of space if pending approval for another six residential units is given before the tender expires, up from the currently approved 38,976 sq ft.
The consultant, who says the residential units have the potential to be converted into service apartments, disclosed that the owners were enticed into selling by the ongoing momentum in the collective sales property market.
The land rate for the 22 units (7th to 14th floor), which has total strata area of 38,976 square feet is between S$2,200 and S$2,300 per square foot.
There is a car park in the basement, with 90 lots.
Although the site has been zoned residential, the new buyer could obtain approval to use it as commercial property.
The property is a short walk to Somerset MRT station.
The freehold En Bloc site is within 5 mins drive to Central Business District and 2 mins to Orchard Road
All nearby amenities and Conveniences are walking distance away