It was the property's fourth en bloc sale attempt.
Residential site Riviera Point, located at 2 Kim Yam Road, has been sold for $72m or $1,461 psf ppr to real estate firm Macly Group's subsidiary.
According to CBRE, this is Rivieria Point’s fourth collective sale attempt, with previous attempts in 2007, 2011, and 2013.
The site area is approximately 14,579 sq ft. Based upon the Masterplan 2014 zoning, the use is residential with plot ratio 2.8 and a height control of 36 storeys.
The verified existing gross floor area (GFA) is approximately 49,265 sqft, translating to a plot ratio of 3.379.
The public tender for Riviera Point closed on 18 December 2017.
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