Freehold Casa Riviera in Serangoon launches collective sale for $55 mil

The 31-unit Casa Riviera on Lim Tua Tow Road, off Upper Serangoon Road in district 19, has been launched for collective sale, announced marketing agent Mount Everest Properties. The freehold development is priced at $55 million, which reflects $1,223 psf per plot ratio (ppr) after factoring the 10% bonus balcony area. No development charge is payable.
Casa Riviera is on the market for $55 million ($1,223 psf ppr) (Pictures: Mout Everest Properties)
The property sits on a 29,181 sq ft plot that is zoned for residential use under the 2014 Master Plan. It has a gross plot ratio of 1.4 and the site has an allowable height of up to five storeys. The 21 year old development is beside the Serangoon Stadium and Swimming Complex, and close to the Nex mall and Serangoon MRT station on the Circle and North-East Lines.
The tender for Casa Riviera closes on Nov 13.
Additionally, Mount Everest Properties is marketing a row of five freehold terrace houses on Quemoy Road in Bartley which have also been put up for collective sale. The properties are on the market for $30 million, which translates into $885 psf ppr after factoring in the 10% bonus balcony area.
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Five freehold terrace houses on Quemoy Road in Bartley are being sold for $30 million ($885 psf ppr)
Located at 17 to 25 (odd nos.) Quemoy Road, the properties collectively sit on a 22,000 sq ft plot that is zoned for residential use with a gross plot ratio of 1.4. The site could be redeveloped into a five-storey boutique project, subject to approvals.
The five terrace houses are close to two en bloc sites which were successfully sold last year. A SingHaiyi-led group, comprising SingHaiyi Properties and Huajing International, bought the former Sun Rosier for $271 million ($1,325 psf ppr) in Sept 2017. The former How Sun Park, which is being redeveloped into the upcoming condominium The Lillium, was bought by a unit of SingHaiyi for $81 million ($1,092 psf ppr) in November last year.