Constructed in the 1980s, Royalville includes 93 flats and 11 stores.
The en bloc frenzy proceeds after Royalville in Bukit Timah Road became the newest project to be set up for sale on Thursday (12 October).
The freehold condo in District 10 joins a growing set of aging properties in prime districts which are trying their luck at a collective deal. Including Cairnhill Mansions along Cairnhill Road that has an indicative cost of $362 million, and Tai Wah Building along Killiney Road at $81 million. According to Property Guru, Twin Vew Condo will be also be launched at West Coast Vale.
Built in the 1980s, Royalville includes 93 flats and 11 stores and sits on a sprawling website measuring 174,176 sq ft.
The owners are requesting for $368 million, which turns out to a land rate of $1,509 psf per plot ratio. No development fee is payable.
“There hasn’t been any freehold site of the size available for sale in Bukit Timah at the previous 10 decades,” explained Swee Shou Fern, senior manager, investment advisory in advertising representative Edmund Tie & Co..
The bureau anticipates keen interest to the home, together with the thriving programmer inclined to redevelop the website into a luxury condo of around 323 units.
Royalville is a Brief stroll from Sixth Avenue MRT station, and is also near to shops and eateries in The Grand Stand, Holland Village and Dempsey Hill.
The upcoming job will attract families as many schools are from the area including Raffles Girls’ Primary School, Hwa Chong Institution and National Junior College.