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River Valley Condominium Was Sold At High Price

The Regalia site has a story proportion of as much as 3.36 and also could possibly produce virtually three times the variety of existing units. With a 10 percent reward location on verandas, the optimum allowed gross flooring location (GFA) is 234,357 sq ft. The site could possibly be redeveloped right into a household advancement of 302 units over 36 floors. Kingsley Mansion presently holds 18 systems. Comparable to The Regalia site, the site could produce as much as 53 units in 36 floors if each house standards 753 sq ft. It is positioned near various other properties such as Yong An Park, The Morningside as well as Pacific Mansions. The last was one of the most current cumulative sale site negotiated in River Valley in March.

The site is zoned "household" as well as no growth fee is payable as much as the existing GFA. The city centre continues to be among one of the most popular addresses in the neighborhood property field. Hence when 2 exclusive household advancements in the city edges increase for cumulative sale, the sector listens. Over in Balestier, Kingsley Mansion has actually simply gone en bloc by tender with a book rate of $45.5 million or $1,132 each sq feet each story proportion (psf ppr). Need to the get rate be satisfied, each system can bring in between $2.36 million to $2.57 million.

Including 112 apartment or condos as well as penthouses, The Regalia rests on a property site of regarding 63,371 square feet. It is located in prime area 9 and also extends 150 metres along River Valley Close and also River Valley Road. Among its special marketing factors is the "edge twin roadway frontage". With an en bloc overview cost of $403 million, the land rate comes near regarding $1,814 each square foot each story proportion (psf ppr), comprehensive of the 10 percent benefit gross flooring location for terraces. The advancement introduced for tender on Aug 14 as well as has a gross story proportion of 2.8. The 14,350 square foot estate site inhabits an option area in Balestier, bound by Toa Payoh, Jadescape Condo as well as  Shunfu Ville.

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