Loyang Valley is set to embark on its third collective sale attempt, aiming for a reserve price of $880 million, which marks a $100 million decrease from its previous bid in 2022. This new valuation reflects a strategic recalibration in response to the market dynamics and the evolving real estate landscape in Singapore. The current sale sets a land rate of $936 per square foot per plot ratio, which incorporates an estimated land betterment charge of $221 million and a lease top-up premium of approximately $245 million.
The property in question spans a total land area of 840,648 square feet, offering a gross plot ratio of 1.6. This translates into a potential yield of around 1.35 million square feet in gross floor area, equating to approximately 1,249 dwelling units. Such figures indicate the site’s significant redevelopment potential, appealing to developers looking to capitalize on the growing residential demand in the region.
The site’s strategic location adjacent to the future Loyang MRT Station on the Cross Island Line enhances its attractiveness, providing future residents with improved accessibility to public transportation. In addition to its connectivity, the Loyang Valley site is set to benefit from upcoming infrastructure developments, including the Loyang Viaduct, which is expected to further enhance accessibility and connectivity to surrounding areas.
These developments are expected to bolster the overall value of the property, making it an enticing investment opportunity. As the tender for the sale approaches its closing date on September 9 at 2 PM, Huttons Asia has been appointed as the marketing agent, promoting the site as a tranquil residential development that is well-positioned to meet the rising demand for housing in the vicinity.
The appeal of the site is further strengthened by its proximity to several industrial zones, which contributes to a robust rental demand. This factor alone makes Loyang Valley an attractive option for developers and investors aiming to meet the needs of a diverse tenant demographic.
The residential landscape in Singapore continues to evolve, and Loyang Valley’s latest collective sale bid is positioned within this context, capitalizing on the ongoing urbanization and infrastructure advancements. As the real estate sector anticipates changing market conditions, stakeholders are keenly observing the outcome of this collective sale attempt.
The reduced reserve price may attract increased interest from potential buyers, offering a unique opportunity to acquire a strategically located property with substantial redevelopment potential. With the closing date of the tender drawing near, the level of engagement from prospective bidders remains to be seen, but the prospects for Loyang Valley appear promising, given its location and the anticipated growth in the surrounding area.
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News Source: Edgeprop
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