Crystal Court on the market for $115 mil
Residents of Tampines Ave 11 Condo will enjoy great connectivity when travelling around the city. It is located right along Tampines Expressway, offering residents easy driving access and multiple routes to various parts of Singapore. In addition, travellers can opt to take public transport from various bus stops nearby.
on EdgeProp.sg
The sale of Crystal Court, a five-storey mixed-use district 10 development, and adjoining plot of private land has been announced by Edmund Tie & Co. This is an incredible opportunity situated at the corner of River Valley Road and Nathan Road and provides an expansive 90m road frontage. With a land area of 16,729sq ft and total gross floor area of 58,2000sq ft, the plot ratio of the site is 2.8.
Crystal Court consists of a commercial unit on the ground floor and 16 apartment units which vary in size between 1,109 and 2,637sq ft. The adjoining land plot is 4,058sq ft and currently serves as a private service road and car park. Both plots are zoned for commercial and residential use under the Master Plan 2019.
A guide price of $115 million has been set for Crystal Court, which works out to an attractive land rate of $2,456 psf per plot ratio. Interested parties are to submit individual bids for each property, with no guide price set for the adjoining land plot. This offers a unique opportunity for developers seeking to expand their presence in this exclusive area of Singapore.
Potential buyers may have the option to explore alternative uses for the site, such as serviced residences, co-living residences, hotel or post-partum care centre, subject to the approval of the relevant authorities. The tender for both properties will close on Nov 20 at 3pm.
Swee Shou Fern, head of investment advisory at Edmund Tie, hints that locations such as this near the Orchard Road area “are hard to come by”. The last time a unit at Crystal Court had changed hands was in October 2021, according to data from EdgeProp Research. This latest sale is offering a vacancy that may not be found again.
This exciting sale gives opportunity to gain developments in one of Singapore’s most desired districts. Potential buyers can explore the most suitable options to the site whilst reaping the benefits of such a strategic position. Check out the listings for Crystal Court properties on EdgeProp.sg to make the most of this investment.