The site is located in prime District 9.
The Regalia, a freehold condo at 2 River Valley Close in District 9, is up for en-bloc sale at $403m, according to CBRE.
The development, which comprises of 112 apartments and 4 penthouses, has a land price of $1,892 psf ppr. Taking into consideration the 10% bonus gross floor area for balconies, the land price will be approximately $1,814 psf ppr.
According to the URA Masterplan 2014, the site is zoned “Residential” with a plot ratio of 2.8 with height control of up to 36 storeys. The maximum allowable GFA after taking into account the 10% bonus area on balconies is 234,357 sq ft. The site can potentially be redeveloped into a residential development of 302 units.
The site is conveniently located just 300 meters from the upcoming Great World MRT Station, on the Thomson-East Coast Line which is one stop from the Orchard Road Interchange MRT Station. Prime residential developments such as Martin Modern, New Futura, 8 Saint Thomas, RiverGate and Martin Place Residences are also within close proximity.
“The Regalia has a host of attractive attributes such as the freehold tenure, prime River Valley address within close proximity to Orchard Road, the CBD and established schools as well as excellent transport connectivity," Sammi Lim, director, capital markets at CBRE said in a statement.
The Public Tender for The Regalia will close at 3pm on 25 September 2018, Tuesday.
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