Crystal Court on the market for $115 mil
for SaleCrystal Court, a five-storey mixed-use development in District 10, and an adjoining plot of private land in Singapore are up for sale with an estimated guide price of $115 million. Located at the corner of River Valley Road and Nathan Road, the site has a land area of 16,729 sq ft and a total road frontage of 90m. It is currently zoned for both commercial and residential purposes, with a total gross floor area of up to 58,200 sq ft.
This exceptional opportunity in one of Singapore’s most sought-after locations offers an enticing proposition for developers to expand their presence in the area. Crystal Court comprises of 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 guide price for the site, which works out to a land rate of about $2,456 psf per plot ratio, has been provided by Edmund Tie. The tender for both properties will close on Nov 20, 2020 at 3pm.
Swee Shou Fern, head of investment advisory at Edmund Tie, comments that mixed-use sites near the Orchard Road area are “hard to come by”. She adds, “Considering Crystal Court’s strategic location, coupled with its bite-sized quantum, this is an exceptional opportunity.”
The adjoining land plot has an area of 4,058 sq ft and serves as a private service road with surface car park lots. It could potentially be redeveloped into a boutique mixed-use development with a number of alternative uses, such as serviced residences, co-living residences, a hotel or post-partum care centre. All subject to the approval of the authorities, of course.
The most recent transaction in the property was recorded in October 2021, according to data from EdgeProp Research.
There are numerous options to choose from with regard to shopping, dining, and entertainment. Shopping malls and boutiques, quaint cafes and high-end restaurants, and a movie theatre are all within a walking distance of Holland Drive Condo. Those looking to enjoy a bit of nature in the city can also stroll through the nearby luscious gardens and parks. With a range of amenities and nearby attractions, Holland Drive Condo is a great place to be.
This is an incredibly rare opportunity for developers and investors to acquire a prime piece of real estate. Whether redeveloped into a boutique mixed-use development or something else, the potential of Crystal Court and its adjoining land plot is substantial.