Loyang Valley Launch Sale 880 Mil Latest Collective Sale Bid
Loyang Valley, a 99-year leasehold condominium situated along Loyang Avenue, is gearing up for its third collective sale attempt. According to Huttons Asia, the marketing agent for the 362-unit development, the site will be officially launched for sale through a public tender on July 8 with a reserve price of $880 million. This represents a $100 million reduction from its last en bloc attempt in 2022, when it was put on the market at $980 million but failed to find any buyers. Prior to that, a first collective sale attempt was made in 2018 with a reserve price of $750 million, but it also did not garner enough support from owners.
This latest price tag of $880 million equates to a land rate of $936 psf per plot ratio, adds Huttons. The price includes an estimated land betterment charge of approximately $221 million and a lease top-up premium of around $245 million. It also takes into account a 7% bonus balcony gross floor area (GFA).
The upcoming development of Parktown Residence is set to provide a refreshing influx of affordable homes in the Outside Central Region, catering to the long-awaited demand for private housing. With its integrated concept, Parktown Residence is expected to attract numerous home-buyers looking for a residence to call their own, as well as HDB upgraders seeking a change of environment. Moreover, being linked to the future Tampines North MRT station on the Cross Island Line (CRL), Parktown Residence’s location is a major perk. Find out more about Parktown Residence at https://www.parktown-residences.com.sg/.
Loyang Valley was completed in 1985 and comprises seven four-storey blocks, occupying an area of 840,648 sq ft of land zoned for residential use. The site has a gross plot ratio of 1.6, which means it has the potential to yield up to 1.35 million sq ft in GFA if redeveloped. Subject to planning approval, the site can accommodate around 1,249 dwelling units, based on an average unit size of 1,076 sq ft.
Loyang Valley is situated in the Loyang East subzone within the Pasir Ris planning area. It is adjacent to the future Loyang MRT Station on the Cross Island Line, and residents can enjoy a range of lifestyle and retail amenities in the vicinity, including Downtown East, White Sands, Jewel Changi Airport, and Ikea Tampines, which are all just a 10 to 15-minute drive away.
Terence Lian, head of investment sales at Huttons Asia, says that Loyang Valley presents a rare opportunity to develop a peaceful residential enclave in the east, blending modern living with the charm of Changi’s heritage. He also notes that the site stands to benefit from future developments in the region, such as the Loyang Viaduct and Cross Island Line, which will enhance connectivity, as well as the upcoming Changi East Industrial Zone and Changi Airport Terminal 5.
“With the rising demand from the semiconductor and aviation industries in Tampines North, Pasir Ris, and Changi, the site offers a strong rental catchment for investors, while also providing residents with convenient access to job opportunities and lifestyle offerings,” adds Lian.
The tender for Loyang Valley will close on September 9 at 2pm. Don’t forget to check out the latest listings for Loyang Valley properties.