Re-visit and Review on AllGreen Emerged As The Developer of RoyalGreen condo
RoyalGreen is another development property acquired by Sky Top Investments, a subsidiary of Allgreen Properties Limited following its collective sale. The site featuring 55 apartments, 38 mansionettes, and 11 shops was launched for sale with an asking price of $368 million. Allgreen topped the bid with $477.94 million offer translating to $1,960 psf. The collective sale was one of the most competitive sales attracting up to 9 bids from various developers.
With this price, each of the owners of RoyalGreen (former Royalville) is set to receive around S$3.09 – S$3.76 million. The shop owners are expected to receive S$5.67 – S$10.38 million and the mansionette owners will be awarded between S$5.42 and S$6.64 million.
The 16, 181.5 sqm land is listed with a freehold tenure and reserved for development of residential housing units under URA’s Master Plan 2014. The site has a gross plot ratio of 1.4, and the grounds can allow development of up to 323 residential units and facilities. RoyalGreen is set to add to the iconic landmarks in the area. RoyalGreen is sited in an exemplary location that is attractive to investors and homebuyers who see great potential in it.
According to Edmund Tie and Company, the company that brokered the sale, RoyalGreen doesn’t attract any development charges. The sale of this freehold property is also one of a kind considering that the area has not offered such a sale in the last decade. It is sited on a large land giving the developer plenty of space to develop modern condos with all facilities of a complete suite.
The Royal Green is located at Bukit Timah Road near Sixth Avenue MRT station, District 10 of Singapore. The area is well connected with easy access to amenities and facilities. The CBD which is a major business hub is just a few minutes away from RoyalGreen which means that its owners can take advantage of the convenience provided by the great location of this residential property.