Riviera Point, a 33-unit residential development at the junction of Kim Yam Road and River Valley Road, has been re-launched for collective sale, with the owners seeking offers in excess of S$68 million.
The S$68 million asking price translates to about S$1,379 per square foot based on the potential gross floor area, sole marketing agent Jones Lang LaSalle said in a statement on Monday.
If successful, each owner stands to receive approximately S$1.94 million to S$2.14 million.
The development had been put on the market previously in 2011 with an asking price of around S$70 million.
“Other than redeveloping the site immediately, potential buyers may also choose to refurbish the existing development and apply for conversion to serviced apartments, subject to approval from the relevant authorities,” Jones Lang LaSalle said.
The tender for Riviera Point closes at 2.30pm on Tuesday, April 8.
Source : Channel NewsAsia – 24 Feb 2014