Another Prime District 9 Freehold site has launched for en bloc sale, The Regalia Condo located at 2 River Valley Close.
The owners have set the reserve price at S$403 million which translate to S$1,892 psf ppr. If 10% bonus balcony is taking into account, the land rate will be down to S$1,814 psf ppr.
The Regalia is a residential site with a plot ratio of 2.8, has a maximum height control of 36 floors as per the 2014 URA master plan.
The freehold site doesn’t attract a development charge for the current GFA, in line with the present Gross Floor Area which is around 213,052 sq ft.
As it stands, the freehold condo features four penthouse units and 112 apartments, the site measures 63,371 square feet.
CBRE continues to state that a recent successful en bloc sale “Pacific Mansion” at river valley, which sold for S$980 million in March. CBRE was the marketing agent for this residential site.
The Pacific mansion is neighbor of The Regalia Condo. The land rate for the Pacific mansion is equal to S$1,987 psf ppr. This is without factoring in the balconies.
Besides being attractively located in prime district 9, CBRE, the independent marketing agent for the property, describes it as a drawing site due to its advantages of ‘prominent corner dual road frontages;’ approximately 150 meters. These are the River valley close and river valley road.
The site’s proximity to major amenities and accessibility is a bonus for the Regalia’s upcoming sale.
The Regalia Condo is near to upcoming Great World MRT (Thomson-East Coast Line) which is only 300 m away.
Its near to popular destination in Singapore such as Clark Quay, Boat Quay, Marina Bay and Central Business District. All these places can be reach by few mins drive.
The tender for The Regalia Condo will close at September 25th 3pm.