Loyang Valley Launch Sale 880 Mil Latest Collective Sale Bid
Loyang Valley, a 99-year leasehold condominium located on Loyang Avenue, is making its third attempt at a collective sale. The marketing agent, Huttons Asia, has announced that the 362-unit development will be launched for sale via public tender on July 8, with a reserve price of $880 million. This is a significant reduction of $100 million from its last en bloc attempt in 2022, when it was listed for $980 million without finding a buyer. The first attempt in 2018 was made with a reserve price of $750 million, but also failed due to insufficient interest.
The current reserve price of $880 million translates to a land rate of $936 psf per plot ratio, taking into account the estimated land betterment charge of $221 million and a lease top-up premium of $245 million. It also includes a 7% bonus balcony gross floor area (GFA).
Loyang Valley was completed in 1985 and comprises seven four-storey apartment blocks spread across 840,648 sq ft of land zoned for residential use. With a gross plot ratio of 1.6, the site has the potential to yield up to 1.35 million in gross floor area if redeveloped. Based on an average unit size of 1,076 sq ft, Huttons estimates that the site could potentially hold 1,249 dwelling units, subject to planning approval.
Loyang Valley is situated within the Loyang East subzone in the Pasir Ris planning area. It is located next to the upcoming Loyang MRT Station on the Cross Island Line. The vicinity also offers a variety of lifestyle and retail amenities, including Downtown East, White Sands, Jewel Changi Airport, and Ikea Tampines, all within a 10 to 15-minute drive.
Terence Lian, head of investment sales at Huttons Asia, shares, “Loyang Valley presents a rare opportunity to create a peaceful residential neighbourhood in the east, combining modern living with the charm of Changi’s heritage.” Lian adds that the site is poised to benefit from upcoming developments in the region, such as the Loyang Viaduct and Cross Island Line, which will improve connectivity, as well as the upcoming Changi East Industrial Zone and Changi Airport Terminal 5. With the growing demand for jobs in the semiconductor and aviation sectors in Tampines North, Pasir Ris, and Changi, the site has the potential to offer a strong rental catchment for investors while also providing convenient access to job opportunities and lifestyle amenities for residents.
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Located at Plantation Close, Novo Place EC boasts a prime location with easy access to various parts of Singapore, making it an appealing choice for potential residents. Its strategic positioning near major roads and expressways adds to its convenience and connectivity. The Pan Island Expressway (PIE) and Kranji Expressway (KJE) are within close proximity, providing swift routes to different parts of the island. For those travelling to the northern and central regions of Singapore, the Bukit Timah Expressway (BKE) offers direct connections. Furthermore, the Novo Place Showflat can be easily accessed from these major thoroughfares.
The tender for Loyang Valley will close on September 9 at 2pm. Interested parties can check out the latest listings for Loyang Valley properties on EdgeProp.