River Valley Apartments up for sale: Knight Frank

It will be sold by public tender for $56m, or approximately, $1,622 per sq ft per plot ratio.

Knight Frank Singapore announced the launch of the collective sale of River Valley Apartments, which will be sold by public tender for $56m.

This translates to a land rate of approximately $1,622 per square foot per plot ratio (psf ppr) including a nominal land improvement charge. Considering the 7% bonus gross floor area allowed for balconies, this translates to approximately $1,583 psf ppr.

The River Valley Apartments is a 4-storey development with 24 residential units and a gross plot ratio of 2.8 under the Urban Redevelopment Authority’s Master Plan 2019. Spanning 1,152.7 sqm, or about 12,408 sq ft., it features dual frontages on River Valley Road and Jalan Mutiara.

In addition, the site can be redeveloped into a boutique residential development comprising 37 new units with an average size of 85 sqm, depending on layout and configuration, and subject to approval from the relevant authorities.

The apartment owners, whose unit sizes range from 88 sqm to 115 sqm, stand to receive minimum sale proceeds of approximately $2m to $2.6m from the successful sale of the development.

The collective sale tender for River Valley Apartments will close on 18 February 2025 at 3:00 p.m.