Pacific Mansion launched for collective sale with $938 mil reserve price
By Angela Teo
/ EdgeProp |
Pacific Mansion at River Valley was launched for collective sale on Feb 6 with a reserve price of $938 million ($1,728 psf per plot ratio), according to marketing agent CBRE.
Located along River Valley Close at the heart of the prestigious River Valley enclave, the freehold redevelopment site measures 128,352 sq ft. Under the 2014 Master Plan, the site is zoned “Residential” with a plot ratio of 2.8.
However, the verified existing gross floor area (GFA) is about 493,222 sq ft, equivalent to a plot ratio of 3.84, says CBRE. Taking into account a 10% bonus balconies GFA, the maximum allowable GFA is 542,544 sq ft. The buyer will not have to pay development charges as the total GFA – including the 10% bonus balconies GFA – does not exceed the development baseline, says CBRE.
(Credit: CBRE)
A redevelopment on the prime district 9 site could offer unblocked views of Orchard, Singapore River and Singapore’s skyline, according to CBRE.
The tender closes on Mar 16.
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