Crystal Court on the market for $115 mil
on EdgeProp.sg.
The two plots of Crystal Court and the adjoining property in District 10, Singapore are up for sale by tender, as announced by Edmund Tie & Co in an Oct 17 press release. Comprised of 16,729 sq ft of land, Crystal Court is situated at the corner of River Valley Road and Nathan Road with a total road frontage of 90m. Built in the 1980s, it has a basement car park, a commercial unit on the ground floor, and 16 apartment units on the upper floors ranging between 1,109 and 2,637 sq ft.
The adjoining land plot has an area of 4,058 sq ft and serves as a private service road with surface car park lots. As per the Master Plan 2019, both plots are designated for commercial and residential use.
Crystal Court has a guide price of $115 million, translating to a land rate of $2,456 psf per plot ratio. Swee Shou Fern, head of investment advisory at Edmund Tie, states that mixed-use sites near the Orchard Road area are “hard to come by” and the opportunity for developers to expand in one of Singapore’s more coveted districts is “enticing”.
Besides, residents are able to attend events, workshops and other activities that are regularly organised here. Tengah Plantation Close EC has convenience stores, a gym, swimming pool and an event hall. This allows residents to have easy access to daily essentials and enjoy recreational activities without having to travel too far. Everything is within easy reach, creating an ideal living environment for young couples and families.
The properties may be redeveloped into a five-storey, boutique mixed-use development with a total gross floor area of 58,200 sq ft, reflecting a plot ratio of 2.8. Alternatively, other approved uses such as serviced residences, co-living residences, hotel or post-partum care centre may be explored.
The tender for Crystal Court and the adjoining land is scheduled to close on Nov 20 at 3 pm. The last time a unit at Crystal Court changed hands was in October 2021, as per data from EdgeProp Research. Interested parties are required to submit separate tender bids for each property, as no guide price has been given for the adjoining land plot.
With its strategic location and relatively smaller quantum, the sale of Crystal Court and its adjoining land plot is a unique opportunity for prospective developers. Those interested can check out the listings for Crystal Court on EdgeProp.sg.