River Valley Apartments, a freehold condominium located on River Valley Road, has just been successfully sold for $56 million. This marks the first collective sale deal to close in 2025, with a selling price that translates to a land rate of $1,622 per square foot per plot ratio (psf ppr).The sale of River Valley Apartments was handled by Knight Frank Singapore, who reported that the purchaser is a Singapore family office with plans to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has already granted an Outline Permission for the development of serviced apartments on this site.”Despite the challenging collective sale market, especially for the residential sector, River Valley Apartments received significant interest during the tender process,” says Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore. “The appeal of this site lies in its prime location within the popular River Valley neighbourhood, and its potential to cater to the growing trend of serviced apartments in Singapore.”Built in 1977, River Valley Apartments comprises of 24 units across its four-storey building. The 12,408 square foot site, which is zoned for residential use, has a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments launched the collective sale process on January 7, with a guide price of $56 million.”After multiple attempts in the past, we are delighted to have finally received the consensus of 80% owners to proceed with the tender launch,” says Jerry Tan, chairman of the River Valley Apartments collective sale committee. Check out the latest listings for River Valley Apartments propertiesAsk BuddyListings for sale for River Valley ApartmentsAre there unprofitable transactions in River Valley Apartments?Compare price trend of HDB vs Condo vs LandedView sale transactions for River Valley ApartmentsAny condo rental listings in District 10?Listings for sale for River Valley ApartmentsAre there unprofitable transactions in River Valley Apartments?Compare price trend of HDB vs Condo vs LandedView sale transactions for River Valley ApartmentsAny condo rental listings in District 10?
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