News: 22 River Valley apartments, terrace homes near Bartley MRT up for sale

May 10, 2018

The 22 apartment units at 336 RV have an indicative price of around $86 million to $90 million. (Photo: Richmond Capital Investments)

The momentum in the en bloc market has encouraged more homeowners to sell their properties, with 22 private apartments at 336 River Valley Road and five freehold terrace homes along Quemoy Road joining the growing list of properties for sale.

Formerly known as AA Centre, 336 RV is a 14-storey freehold residential and commercial development that features 90 basement carparking lots. It is nestled on a 33,757 sq ft site, which is zoned for residential use with a 2.8 plot ratio and an allowable building height of up to 10 storeys, reported the Business Times.

Located from the 7th to 14th storeys, the 22 apartment units comprise a total strata area of about 38,976 sq ft and have an indicative price of $2,200 to S$2,300 psf, or around $86 million to $90 million in total.

Richmond Capital Invesments, which is handling the sale, revealed that six residential units are still pending approval for sale, subject to the close of tender. Should they be included, the potential buyer could acquire up to 49,805 sq ft in the development.

“The investor could potentially convert the residential units into service apartments, subject to relevant authorities’ approval,” added the property consultancy, while noting that the tender for the apartments closes on 6 June.

Meanwhile, units 17 to 25 in Quemoy Road carry an indicative price of about $23.87 million or $1,142 psf per plot ratio.

Located close to Bartley MRT station, the 14,918 sq ft site is zoned residential under the 2014 Master Plan with a plot ratio of 1.4. It could be redeveloped into a five-storey boutique development, subject to approval of the Urban Redevelopment Authority.

With Mount Everest Properties as the marketing agent for the en bloc sale, the tender exercise for the terrace homes closes on 12 June.

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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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