River Valley Apartments Sold 56 Mil First Residential Collective Sale 2025
River Valley Apartments, a freehold condominium located on River Valley Road, was recently sold for a whopping $56 million. This marks the first successful residential collective sale deal to close in 2025. The prime district site was purchased by a Singapore family office for redevelopment into serviced apartments, after obtaining an Outline Permission from the Urban Redevelopment Authority (URA).
According to the marketing agent, Knight Frank Singapore, the strata-titled owners of River Valley Apartments stand to receive minimal proceeds of about $2 million to $2.6 million each based on the sale price. Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, highlights the significance of this sale in a challenging collective sale market. “This marks the first collective sale site sold in 2025, amid a challenging collective sale market, especially for the residential sector,” says Chia.
The collective sale of River Valley Apartments is the first residential collective sale site successfully sold in a prime district since May 2023, when Kew Lodge was sold for $66.8 million to Aurum Land. Chia attributes the keen interest in the tender for River Valley Apartments to its “excellent locational attributes” in the popular River Valley neighbourhood. She adds that the site’s redevelopment into a future serviced apartment project is well-positioned to tap into the fast-expanding living sector in Singapore.
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River Valley Apartments comprises a four-storey building with 24 units. The 12,408 sq ft site, zoned “residential”, has a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments launched the collective sale of the development on Jan 7 at a guide price of $56 million.
“We had attempted to initiate the collective sale exercise in the past, and this is the first time we have secured the 80% owners’ consensus to proceed with the tender launch,” says Jerry Tan, chairman of the River Valley Apartments collective sale committee.
Overall, the successful collective sale of River Valley Apartments is a testament to the strong demand for well-located sites in prime districts, especially in the current challenging market. Its strategic location and potential for redevelopment into a serviced apartment project make it an attractive investment for the purchaser.