News

Residential Property

Danielle Isaac

, Singapore

Published:

8 years ago

510 views

Royalville sold en bloc for $477.94m

It attracted a total of nine bids which surpassed the $368m asking price.

Edmund Tie & Company (ET&Co) awarded the tender for Royalville's en bloc sale for $477.94m or $1,960 psf ppr.

According to a press release, the buyer is Sky Top Investments Pte Ltd, an entity of Allgreen Properties Limited. The bidding attracted nine bids from local and foreign developers.

ET&Co Investment Advisory senior director Swee Shou Fern said most of the bids surpassed the asking price of $368m.

At this sale price, an apartment owner will receive between $3.09m and $3.76m, whilst a maisonette owner will receive between $5.42m and $6.64m.

Shop owners are expected to receive $5.67m to $10.38m.

Royalville comprises 55 apartments, 38 maisonette and 11 shops. The freehold site has a land area of 16,181.5 sqm (174,176 sqft). Under Master Plan 2014, the site is zoned for residential use with a gross plot ratio of 1.4.

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