Property comprises a site seating Crystal Court and an adjoining land plot, together which can be either redeveloped or repurposed into spaces for alternative uses
Singapore, 17 October 2023 –Edmund Tie & Company (EDMUND TIE), as the sole marketing agent, is pleased to offer for sale by tender a prime freehold mixed-use property and an adjoining plot of private land at River Valley Road in the coveted District 10.
Interested parties are to submit separate tender bids for each property by 20 November 2023 at 3pm.
The prime freehold mixed-use property sits on a corner site bounded by River Valley Road and Nathan Road, with total road frontage of 90 m. The 1,554.2-sq-m site is currently occupied by Crystal Court, a five-storey mixed-use development completed in the 1980s and comprises a basement carpark, a commercial unit on the ground floor and 16 apartment units ranging from 103 sq m to 245 sq m on the upper floors.
The adjoining land plot, which is between Crystal Court and River Valley Road, has an area of 377.0 sq m and currently serves as a private service road with surface car parking lots.
Under the Master Plan 2019, the subject properties are zoned for “Commercial & Residential” use.
The subject properties can be amalgamated and be redeveloped into a five-storey boutique mixed-use development with a total gross floor area of 5,407 sq m, reflecting a plot ratio of 2.8. Alternatively, the successful buyer can also explore purposeful adaptive reuse of the existing building and space. Subject to the authorities’ approval, some alternative uses can include serviced residences, co-living residences, hotel or postpartum care centre.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “Freehold mixed-use sites near the Orchard Road area are hard to come by. Considering Crystal Court’s strategic location, coupled with its bite-sized quantum, this is an exceptional opportunity which offers an enticing proposition for developers to expand presence in one of Singapore’s most coveted districts.”
The guide price for Crystal Court is S$115 million, reflecting a land rate of approximately S$2,456 psf per plot ratio.
“Creative developers who are into sustainable urban renewal can also explore repurposing the existing building and space, giving it a new purpose such as co-living or postpartum care centre. This is especially so, on the back of the traction gained by the co-living sector in Singapore and the growing popularity of postpartum care centres for mothers in recent years,” continues Ms Swee.
Situated in an affluent residential enclave, the subject properties are surrounded by a variety of lifestyle offerings and amenities, providing unparalleled convenience and entertainment options. Popular malls such as Valley Point, Great World City, and Tiong Bahru Plaza, are all within the vicinity, while River Valley Road is lined with quaint shophouses occupied by chic cafes, boutique lifestyle stores and fitness studios. Other lifestyle destinations nearby include Robertson Quay and Dempsey Hill.
The subject properties enjoy excellent connectivity to the rest of Singapore via Central Expressway (CTE), and major arterial roads such as River Valley Road, Peterson Hill, Lower Delta Road and Zion Road. Great World MRT station on the Thomson-East Coast Line (TEL) is also a short walk away.
For further information contact:
Swee Shou Fern (Ms)
DID: +65 6393 2523
Media please contact:
Seah Li Ching (Ms)
DID: +65 6393 2369