River Valley conservation terraced home for sale starting at $7.8 million
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A two-storey conservation terraced home located on River Valley Road is up for auction with a price of $7.8 million. The Knight Frank auction group is Singapore’s sole agent.
The property is situated on a 1,886 square feet lot with a leasehold of 999 years tenure. The asking price is an estimated land cost of $4,134 per square foot.
The three-bedroom property has two bathrooms, a kitchen open as well as an eating and living area. It is one of 12 conservation terraced homes located along River Valley Road in prime District 9.
The exteriors of the buildings’ historic facades as well as window fixtures are protected and highlight their pristine façades. Preservation rules emphasize the streetscapes, while balancing low-rise blocks against newer and higher-rise buildings.
This area of River Valley is near Great World City and Great World MRT Station located on the Thomson-East Coast Line. Also, it is near Plaza Singapura shopping center, as well as Dhoby Ghaut Interchange on the North-East, North-South and Circle MRT Lines. Fort Canning Park and Fort Canning MRT Station located on the Downtown Line are about 600m from the river, and activities along Boat Quay and Clarke Quay are also within reach.
The neighborhood’s unique particularities make the area a highly sought-after neighborhood that has luxury condominiums and homes. This includes the luxurious condos on Saint Thomas Walk, River Valley Close, Martin Place and Oxley Road.
The most notable developments around the area include GuocoLand’s the 450-unit Martin Modern at Martin Place. The 99-year leasehold condominium was sold completely by August 2021. The developer is expected to offer the average price for its units of 2,687 per square foot.
Then, The Avenir by Hong Leong Holdings and GuocoLand had a sales price of $3200 per square feet at the time that the development was completely sold. The freehold development of 376 units located at River Valley Close was launched to the market in January 2020, and is now sold to the fullest extent in the month of January, according to the developer’s sales statistics.
The most recent development within the neighborhood will be the 72 unit Hill House on Institution Hill. This luxury condo comes with an 999-year leasehold, and is a joint venture with Macly Group, Roxy-Pacific Holdings and LWH Holdings. With caveats in place that were put in place, the condo was released to be sold in the month of November 2022. The condo is currently one-quarter sold, with an average of around $3,000 psf.