PROJECT DETAILS
Three land parcel sites which are located at the Central Region of Singapore, were sold for New and Upcoming Condo developments in last quarters of 2017, through collective sales and Government Land Sales (GLS). The residential areas within River Valley consist mainly of private properties for the middle and the high sections of the population in Singapore.
The three land sites, namely
- Jiak Kim Street (former site of Zouk)
- former site of Riviera Point and
- former site of Pacific Mansions
The site at Jiak Kim Street, with a site area of 145,120 square feet, along Kim Seng Road was sold at S$955.4 million. This works out to S$1,732.55 per square foot per plot ratio (psf ppr).
Riviera Point at Kim Yam Road, off River Valley Road, was sold for $72m or $1,461 psf ppr. The site area is approximately 14,579 square feet.
Pacific Mansion has been sold for S$980 million. Based on the verified existing gross floor area of about 493,222 sq ft, the total price of S$980 million works out to S$1,987 per square foot per plot ratio price. Including the 10 per cent bonus balconies gross floor area, the maximum allowable gross floor area for the property is 542,544 sq ft, working out to about S$1,806 per square foot per plot ratio price.
Other condo developments along River Valley Road include Rivergate, Martin Place Residences, upcoming Martin Modern, Skyline 360, 8 Saint Thomas, Bellevue Residence, The Morningside, Aspen Heights and Yong Ann Park.
New Condo at River Valley Road- Connectivity
Residents will enjoy utmost convenience in terms of commuting when living in River Valley Road.
Dhoby Ghaut Train Interchange where they can access to the North South Line, the North East Line and the Circle Line Train services. The upcoming Fort Canning Train Station which is just next to Liang Court and operates the downtown is just 600 m away. It will start its operation in 2017. By then, residents of new condo in River Valley Road will be able to access to 4 major train line services with minutes’ walk from their homes. This makes commuting to any parts of Singapore hassle free when living in River Valley Road. New Condos in River Valley Road is also just 3 minutes’ drive away from the Orchard Shopping Area. To head down to the Raffles Place and Marina Bay Financial Centre (MBFC), it will just take a 2 minutes’ drive from River Valley Road. The Central Expressway (CTE) is also nearby to provide a channel of convenience for island wide traveling.
New Condo at River Valley Road- Amenities
New Condos are just a short walk to UE Shopping Mall and Liang Court Shopping Centre where many retail shops, supermarkets and F&B outlets are located. There are also numerous bistros, cafes and restaurants serving international cuisines located at Robertson Walk. To access to some of the best entertainment centres in Singapore. Future residents of New Condo at River Valley Road just need to take a short walk down to Clarke Quay where many pubs and clubs are. Future residents can chill out or party the night away without having to travel too far from their homes.
If residents wish to snack out on cheap and good local food, there are plenty of food centres nearby. The Zion Riverside Food Centre, Hong Lim Market & Food Centre, Chinatown Complex Market and Food Centre, Albert Complex Market and Food Centre, Golden Shoe Food Centre, Tiong Bahru Market, Maxwell Market, Havelock Road Block 22A Food Centre, Tekka Market, Beo Crescent Block 38A Market and Food Centre, Gluttons Bay, Amoy Street Food Centre and Newton Food Centre are less than 2 km away from New Condo at River Valley Road. Future residents can also enjoy many local delicacies as it is near to food centres such as Zion Riverside Food Centre, Havelock Road Block 22A Food Centre, Hong Lim Market & Food Centre, Tekka Market, Beo Crescent Block 38A Market and Food Centre, Newton Food Centre, Chinatown Complex Market and Food centre, Albert Complex Market and Food Centre and Maxwell Market.
New Condo at River Valley Road- Education
In terms of education facilities, schools include River Valley Primary School, Saint Margaret’s Primary School, Anglo-Chinese Junior School, Stamford Primary School, Outram Secondary School, Singapore Management University and Nanyang Academy Of Fine Arts.
International schools such as Swedish Supplementary School, Chatsworth International School (Orchard Campus), Finnish Supplementary School, Overseas Family School, International School Singapore, Insworld Institute and The University of Chicago Booth School of Business are also within vicinity. Swedish Supplementary School, Etonhouse International School, Chatsworth International School (Orchard Campus), Finnish Supplementary School, Overseas Family School, International School Singapore and Insworld Institute.
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Heart of New Central
Financial District
Marina One Residences
Financial District
Marina One Residences
Heart of Tanjong Pagar
Financial District
Wallich Residence with
181 Limited Collection
Super Penthouse at 21,108sqft
Financial District
Wallich Residence with
181 Limited Collection
Super Penthouse at 21,108sqft
Other Developments in
Core Central Region
Core Central Region
| Project | River Valley Road New Condo- Former site of Pacific Mansions |
| Developer | Guocoland and Hong Leong |
| Location | Kim Yam Road |
| District | 09 |
| Tenure | Freehold |
| Site Area | 11,924 square metres/128,352 square feet |
| GFA: | 50,403 square metres/542,544 square feet |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | |
| Total Carpark | |
| Development | Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigner can buy |
| Project | River Valley Road New Condo- former site of Riviera Point |
| Developer | Macly Group |
| Location | Kim Yam Road |
| District | 09 |
| Tenure | Freehold |
| Site Area | 1,354 square metres /14,579 square feet |
| GFA: | sqft |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | |
| Total Carpark | |
| Development | Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigner can buy |
| Project | Jiak Kim Street New Condo at Former site of Zouk |
| Developer | Frasers Centrepoint |
| Location | Jiak Kim Street, Kim Seng Road |
| District | 09 |
| Tenure | 99 years lease |
| Site Area | 13,482 square metres/ 145,120 square feet |
| GFA: | 51,233 square metres /551,478 square feet |
| Plot Ratio | 3.8 |
| Expected TOP: | |
| Total Units | Approximately 525 residential apartments |
| Total Carpark | |
| Development | Mixed Development with condo comprising of communal facilities and commercial space |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigner can buy |
LOCATION and AMENITIES
Amenities Near New Condos at River Valley Road
| Category | Important Amenities New Condos at River Valley Road | Approximate Distance |
| Train Stations | Somerset (NS23) Great World MRT Thomson Line Due 2021 |
0.5km 0.6km |
| Bus Stop | Opp ERC Inst (Bus: 32, 54, 139, 195, 530, NR6, NR7) Natl Youth Council (Bus: 7, 14, 16, 36, 65, 77, 106, 111, 123, 174, 174E, 175, 971E) |
0.2km 0.3km |
| Supermarkets | NTUC Cold Storage Sheng Siong Giant |
0.4km 0.4km 1.4km 2.2km |
| Shopping Malls | *Scape Cathay Cineleisure Ngee Ann City Mandarin Gallery The Heeren Shops 313 @ Somerset Paragon Lucky Plaza Orchard Central The Centrepoint |
0.3km 0.4km 0.4km 0.5km 0.6km 0.6km 0.6km 0.6km 0.7km 0.7km |
| Education Institutions | Preschool | |
| Kay Poh Road Baptist Kindergarten Little Hands Montessori JHS Montessori Kindergarten PCF Kreta Ayer-Kim Seng Blk 79 Y W C A Kindergarten (Outram) Chinese Kindergarten Wee Care @ The Polliwogs Kindergarten PCF Tanjong Pagar-Tiong Bahru Blk 6 PCF Tanglin-Cairnhill Blk 124A |
0.6km 0.9km 1.1km 1.1km 1.4km 1.4km 1.5km 1.8km 2.0km |
|
| Primary | ||
| River Valley Primary School St Margaret Primary School Anglo-Chinese Junior School Zhanngde Primary School |
0.5km 1.5km 1.5km 1.8km |
|
| Secondary | ||
| Outram Secondary School Gan Eng Seng School Raffles Girls’ Secondary School |
1.4km 1.6km 1.6km |
|
| Junior College | ||
| Catholic Junior College | 3.0km | |
| Tertiary | ||
| Nanyang Academy Of Fine Arts The University of Chicago Booth School of Business Singapore Management University (SMU) |
1.1km 1.2km 1.4km |
|
| International | ||
| Finnish Supplementatry School (S’pore Land Twr) Swedish Supplementary School Overseas Family School ISS International School (Elementary) Chatsworth International School Orchard Campus Eton House International School |
0.4km 0.4km 0.4km 0.6km 0.7km 1.5km |
|
| Food Centre | Zion Riverside Food Centre Havelock Road Block 22A Food Centre Beo Crescent Block 38A Market and Food Centre Tiong Bahru Market People’s Park Complex Food Center Hong Lim Market & Food Centre Chinatown Complex Market and Food Centre Bukit Merah View Block 115 Market And Food Centre |
0.7km 1.3km 1.3km 1.5km 1.7km 1.9km 2.0km 2.0km |
| Lifestyle | Stardus Clubhouse Istana Park The American Club Home TeamNS – UE Square Club House Legends Tanglin Club Fort Canning Park Tiong Bahru Park Pearl’s Hill City Park The Pines Club SAFRA Town Club Hong Lim Park Tanglin Golf Course PA Staff Club |
0.8km 0.9km 1.1km 1.1km 1.2km 1.3km 1.3km 1.4km 1.6km 1.7km 1.8km 1.9km 1.9km 1.9km |
FACILITIES and SITE PLAN E-BROCHURE
The Facilities and Site Plan of New Launch in Rier Valley Road are currently seeking approval from relevant authorities.
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FRASERS CENTREPOINT WON TOP BID FOR FORMER ZOUK GLS LAND PARCEL FOR MIXED CONDO DEVELOPMENT AT JIAK KIM STREET GREAT WORLD MRT STATION
1) SINGAPORE: Tenders for two residential land parcels at Jiak Kim Street and Fourth Avenue closed on Tuesday (Dec 5), with the former receiving a top bid of S$955.4 million and the latter drawing a top bid of S$552.96 million, according to the Urban Redevelopment Authority (URA).
The highest bid for the 13,482 sq m site at Jiak Kim Street, which works out to S$1,732.55 per square foot per plot ratio (psf ppr), came from Frasers Centrepoint Limited. It is the highest unit land price achieved on a per square foot basis for government land sites sold (excluding commercial and white sites).
The highest bid for the 18,532 sq m Fourth Avenue land parcel was from Allgreen Properties, reflecting a land rate of S$1,540 psf ppr. The developer secured the freehold sites at Royalville and Crystal Tower last Friday, and is now eyeing a third site along the same Bukit Timah stretch.
The sites at Jiak Kim Street and Fourth Avenue were originally on the Reserve List of the Government Land Sales Programme.
"Both the Jiak Kim and Fourth Avenue sites were hotly contested with benchmark prices set for both locations," said Christine Li, research director at real estate firm Cushman & Wakefield.
"The developer is probably pricing in a slight appreciation of around six to seven per cent for the selling prices of the future development. This is somewhat in line with the market expectation that prices of new homes will rise by around five to 10 per cent next year," Ms Li added.
Head of research and consultancy Tay Huey Ying at real estate agency JLL said: "Of interest is that local developers continue to maintain their hold on the prime district market, pipping foreign developers such as China’s CSC Land and Hong Kong tycoon Li Ka-shing’s Japura Pte Ltd for the two sites at Jiak Kim Street and Fourth Avenue, respectively."
LOCATED IN HEART OF KEY GROWTH AREA
City Central Region, Singapore URA Master Plan 2014
Singapore Urban Redevelopment Authority URA Master Plan 2014 envisions some exciting developments for the whole of Singapore's central area including Tanjong Pagar, The Greater Southern Waterfront District, City Hall, Marina Bay, Suntec and Bugis-Rochor area. The new prime City Central area will be a place for the people to engage community and arts, showcase Singapore's creative and artistic expression and links to Singapore's past and future aspirations. There will be more pedestrian- friendly precincts, public spaces and parks, night lightings and trees.
City Centre at Marina Bay is a unique and dynamic waterfront district, Garden City by the Bay, extending seamlessly from the CBD and it is zoned to be
- the next CBD, focusing on financial and business related activities
- More Commercial, residential buildings, hotel and entertainment spots are to be built.
- It will be a lifesytle destination for variety of water-based activities and events.
- Exensive road and rail network in the pipeline and
- Padestrain bridges that loops attractions and open spaces around the Bay.
Marina South will have
- a new population catchment as it will have a residential district of 9,000 new homes, with mix-development plan of hotels, offices and entertainment
- elevated landscape walkway that links the Bay South Garden to Marina South seafront
- 800 metres padestrain walkway beween the upcoming Marina South and Gardens by the Bay MRT Station
- underground carpark that allows motorists to drive between buildings that reduce ground level traffic
- feaures that can collect rain water and harness wind energy
- continuous waterfront promenade will be creaed from Marina South to Labrador for joggers and cyclists.
Beach Road/ Ophir- Rochor will have abundant conveniences being in the heart of City.
- It will be further of the CBD with extension of convention, offices and hotel hub of Marina Centre
- There will be more developments of office cluster for financial business institutions.
- It will be turned into an exciting Commercial hub, blending with entertainment, cultural and lifestyle.
- It will be turned into a strategic transport hub, the area will be well connected by rail and road network to many parts of Singapore.
Capitalising on Bugis and Bras Basah rich architectural and cultural heritage, URA is embarking on urban renewal efforts to transform it dramatically into Singapore's art, culture. learning and entertainment district.
From the cultural enclave of Kampong Glam to National Arts Gallery in the Civic and Cultural District to high skyscappers in Marina Bay, this growth area in Sturdee Road Condo promises residents a 24/7 city lifestyle. New major landmark developments will transform the city skyline, offering prestigious address locations and spectacular views out across the city. Strategic developments with conservation buildings will continue to inject vibracy, turning it into a lively art and education place, as an emerging commercial hub that will complement Singapore financial district.
RIVIERA POINT SOLD EN BLOC TO MACLY GROUP
2) Residential site Riviera Point, located at 2 Kim Yam Road, has been sold for $72m or $1,461 psf ppr to real estate firm Macly Group's subsidiary.
According to CBRE, this is Rivieria Point’s fourth collective sale attempt, with previous attempts in 2007, 2011, and 2013.
The site area is approximately 14,579 sq ft. Based upon the Masterplan 2014 zoning, the use is residential with plot ratio 2.8 and a height control of 36 storeys.
The verified existing gross floor area (GFA) is approximately 49,265 sqft, translating to a plot ratio of 3.379.
PACIFIC MANSIONS SOLD TO GUOCOLAND and HONG LEONG HOLDINGS THROUGH EN BLOC SALES
3) SINGAPORE: Pacific Mansion has been sold for S$980 million, the largest collective sale in more than a decade, real estate agency CBRE announced on Monday (Mar 19).
In a news release, CBRE said the public tender for the property was awarded to a tripartite joint venture formed by Guocoland (Singapore), Intrepid Investments and Hong Realty.
The sale is the largest since that of Farrer Court at S$1.34 billion in 2007, according to marketing agent CBRE. It is also the largest transaction in the current en bloc cycle, exceeding Tampines Court's S$970 million and Amber Park's S$907 million, the agency added.
Pacific Mansion is a 290-unit development comprising 288 apartments and two commercial units at River Valley Close.
The sale price is about 4.5 per cent higher than the reserve price of S$938 million.
CBRE's director of capital markets Galven Tan said the tender drew keen interest from both local and foreign developers.
The result of the tender is “testament to the excellent attributes of the sprawling freehold site in the heart of district nine, which includes the proximity to both the central business district and Orchard Road shopping belt, and the upcoming Great World City MRT Station," he said.
CBRE said that each residential unit owner will stand to receive a gross payout of S$3.26 million to S$3.48 million, while owners of shop units will receive between S$2.2 million and S$4.5million.
Based on the verified existing gross floor area of about 493,222 sq ft, the total price of S$980 million works out to S$1,987 per square foot per plot ratio price, according to CBRE.
Including the 10 per cent bonus balconies gross floor area, the maximum allowable gross floor area for the property is 542,544 sq ft, working out to about S$1,806 per square foot per plot ratio price, CBRE said.
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