Freehold River Valley Apartments sells for S$56 million to a Singapore family office
The River Valley Apartments en bloc sale has successfully closed at S$56 million, making it the first residential collective sale of 2025. This transaction is particularly significant as it comes amid a challenging en bloc market, where securing approvals for collective sales has been increasingly difficult.
According to Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, the deal is notable as the first successful prime district collective sale since May 2023, when Kew Lodge was sold for S$66.8 million to Aurum Land.
Prime Location and Development Potential
Constructed in the 1950s, the four-storey River Valley Apartments comprises 24 units and occupies a land area of approximately 12,408 square feet. The site is zoned for residential use with a gross plot ratio of 2.8, allowing for potential redevelopment into a boutique residential project. Notably, the Urban Redevelopment Authority (URA) has granted outline planning permission for such redevelopment, enhancing the site’s appeal to developers.
Strategically situated about 500 meters from the Great World MRT Station on the Thomson-East Coast Line, the property offers excellent connectivity. Additionally, it is within walking distance to shopping hubs like Great World City and Valley Point Shopping Centre, and falls within a 1-kilometer radius of reputable educational institutions such as River Valley Primary School and Alexandra Primary School.
Market Context - River Valley Apartments
The successful sale of River Valley Apartments highlights the robust interest in prime residential sites within Singapore. The acquisition by a local family office indicates confidence in the long-term value and potential appreciation of well-located freehold properties.
The collective sale process for River Valley Apartments faced several hurdles before its eventual success. Jerry Tan, chairman of the River Valley Apartments collective sale committee, shared that past en bloc attempts failed to meet the required 80% owners’ consensus. However, this latest attempt successfully gathered the necessary approvals, allowing the sale to proceed smoothly.
Why River Valley Apartments Attracted Strong Interest
The tender for River Valley Apartments received keen interest from investors and developers, largely due to the site’s excellent location and redevelopment potential.
Prime Location & Connectivity
✔ Situated in District 10, a highly sought-after residential enclave.
✔ 500m from Great World MRT Station, ensuring seamless access to Orchard, Marina Bay, and the CBD.
✔ Close to Great World City, Robertson Quay, and Valley Point Shopping Centre for retail and dining options.
Redevelopment Potential
✔ The 12,408 sq ft site is zoned for residential use under the latest URA Master Plan, with a gross plot ratio of 2.8.
✔ Future plans could see the site redeveloped into a serviced apartment project, capitalizing on Singapore’s growing demand for flexible living spaces.
URA has granted an outline planning permission for serviced apartments on the site
The transaction involving River Valley Apartments exemplifies the sustained demand for strategically located freehold residential sites in Singapore. With its prime location, redevelopment potential, and URA’s planning approval, the site is poised for transformation, contributing to the dynamic evolution of Singapore’s urban landscape.