A 1,528 sq ft unit at RiverGate, a freehold development fronting the Singapore River, has been listed at $2.9 million ($1,898 psf) on EdgeProp.sg. “The three-bedroom unit faces the entrance and greenery of the development,” says Priti Khatwani from PropNex Realty, who is marketing the property. “It is well kept and has a spacious living and dining area.”
The unit is leased to a company at a monthly rent of $6,500 until February 2018, says Khatwani. The owner is a foreigner who has returned to his home country.
RiverGate has 545 units in three 43-storey towers. Completed in 2009, the project is within walking distance of two upcoming MRT stations — Havelock and Great World — on the Thomson-East Coast Line. RiverGate is a stone’s throw away from The Quayside, which is being revamped by property developer and investor RB Capital into a development with 100,000 sq ft of F&B space and a new luxury hotel. The first phase of The Quayside with more than 30,000 sq ft of F&B space has been opened progressively since late last year. The second phase is scheduled to open in either September or October and will feature 60,000 sq ft of F&B space and the 225-room InterContinental Singapore Robertson Quay.
RiverGate is a freehold development fronting the Singapore River
So far this year, 21 units at RiverGate have been sold at an average price of $2,001 psf. In 2016, 30 units were sold at an average price of $1,942 psf. The most recent transaction was that of a 1,044 sq ft, two-bedroom unit on the fifth floor that fetched $2.44 million ($2,335 psf), according to a caveat lodged on Aug 3.
This article appeared in The Edge Property Pullout, Issue 795 (September 4, 2017) of The Edge Singapore.