Situated on a corner location in the heart of District 9, the Site enjoys dual road frontage spanning 35 meters along Kim Yam Road and 30 meters along River Valley Road.
The site area is approximately 14,579 sq ft. Based upon the Masterplan 2014 zoning, the use is “residential” with plot ratio 2.8 and a height control of 36 storeys. However, the verified existing Gross Floor Area is approximately 49,265 sq ft, translating to a plot ratio of 3.379.
High floor units of the proposed development will be able to enjoy unblocked views towards Orchard and the Singapore skyline while the lower floor units will overlook the lush greenery of the Oxley area which is predominantly low density residential developments. The sale price of the development is $72m, which works out to approximately $1,461 psf ppr. This is Rivieria Point’s fourth collective sale attempt, with previous attempts in 2007, 2011 and 2013.
The Public Tender for Riviera Point closed on 18 December 2017. According to the laws governing collective sales, the owners may enter into a private treaty contract with a buyer within 10 weeks from the close of the public tender.
Macly Group is a Singapore based real estate developer, with a track record residential and commercial developments in Singapore.
Galven Tan (陈威礽), Director, Capital Markets, CBRE said, “Riviera Point, situated on an elevated plot and within a neighbourhood with abundant amenities, presents an excellent opportunity for the buyer to develop a high quality boutique development catered for young urbanites wanting to live within the cosmopolitan neighbourhood of River Valley and Robertson Quay.”
Situated less than 600m away from Great World MRT Station (TE15), the site is well served by various modes of public transportation. The Somerset MRT Station is within a 10-minute walk. It is also equidistant from the CBD at Raffles Place and the bustling Orchard Road, Singapore’s world-renowned main shopping belt.
The area is well served by lifestyle and F&B amenities conveniently located at Robertson Quay and Killiney Road. Nearby residential developments include Martin Place Residences, Martin 38, Martin Modern and Rivergate. In addition, the popular River Valley Primary School is located less than 400m away.
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