Archive for category: Misc

Loyang Valley Condo in Third Attempt at Collective Sale

Loyang Valley Condo, located on Loyang Avenue, is once again up for collective sale, marking its third attempt at selling en bloc. The 99-year leasehold development of 362 units will be launched for sale by public tender on July 8 with an asking price of $880 million, according to marketing agent Huttons Asia.

This price represents a $100 million reduction from the last en bloc attempt in 2022, when the property was put on the market at $980 million but did not find a buyer. The first collective sale attempt was made in 2018 with a reserve price of $750 million, but failed to secure sufficient support.

The current asking price of $880 million translates to a land rate of $936 psf per plot ratio, factoring in an estimated land betterment charge of about $221 million and a lease top-up premium of around $245 million. It also includes a 7% bonus balcony gross floor area (GFA).

Loyang Valley was completed in 1985 and comprises seven four-storey apartment blocks on a land area of 840,648 sq ft. The site has a gross plot ratio of 1.6, which means it can potentially yield up to 1.35 million in GFA if redeveloped.

Under the Pasir Ris planning area, Loyang Valley falls in the Loyang East subzone and is situated next to the future Loyang MRT Station on the Cross Island Line. The development is within a 10 to 15-minute drive from lifestyle and retail amenities such as Downtown East, White Sands, Jewel Changi Airport and Ikea Tampines.

According to Terence Lian, head of investment sales at Huttons Asia, Loyang Valley offers a unique opportunity to develop a tranquil residential enclave in the east, blending modern living with the charm of Changi’s heritage. He adds that the site is set to benefit from upcoming developments in the region, including the Loyang Viaduct and Cross Island Line, which will improve connectivity, as well as the Changi East Industrial Zone and Changi Airport Terminal 5.

With growing demand from the semiconductor and aviation sectors in Tampines North, Pasir Ris, and Changi, the site also offers a strong rental catchment for investors, while providing residents with convenient access to job opportunities and lifestyle offerings.

The tender for Loyang Valley will close on Sept 9 at 2pm. Interested parties can check out the latest listings for Loyang Valley properties, including the total number of units, any profitable transactions, the rental yield, the most unprofitable landed transactions in the past year and the condo transactions with the highest profits in the past year.