River Valley Apartments sells for $56m

It was sold in a tender exercise that closed on 18 February 2025.

River Valley Apartments was sold for $56m in a tender exercise that closed on 18 February 2025, according to its exclusive marketing agent KnightFrank.

The sale price translates to a land rate of approximately $1,622 per square foot per plot ratio (psf ppr), inclusive of a nominal land betterment charge. The freehold property is zoned ‘Residential’ with a Gross Plot Ratio of 2.8 under the Urban Redevelopment Authority’s Master Plan 2019. It has a land area of 1,152.7 square metres (sqm) or approximately 12,408 square feet (sq ft). URA’s Grant of Outline Permission for serviced apartments has been obtained.

River Valley Apartments comprises 24 residential units. 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 purchaser is a Singapore family office with plans to transform the property into serviced apartments.