Riviera Point and Cairnhill Mansions were sold collectively for as high as $362 million and $72 million, respectively.
The property development in areas of Riviera Point of Kim Yam Road was bought by Macly group, another credible Singaporean property developer while Cairnhill Road sold to Low Keng Huat, a Singaporean -listed real property developer.
Cairnhill Mansions, a skyscraper of 18-storey block embracing 61 apartments, rise on property site of nearly 43,103 sq ft. with a price tag rolls out to $2,311 per square foot per psf ppr (plot ratio). Low Keng Huat revealed the intention to redevelop into a skyscraper residential condominium and assumes the proposed project to have an output of more or less 200 residential flats.
Cairnhill Mansions’ marketing selling point is its strategic location. It experiences both privacy and serenity within its major district and just a walking distance away heading to Orchard Road. It is at close range with the Newton MRT Station. This is the 5th attempt of Cairnhill Mansion to hit the collective sale.
Riviera Point is along the junction of District 9, which freely experiences the dual road frontage spreading 35m right in Kim Yam Road and River Valley Road in 30m. It is positioned 600m from the future development, Great World MRT Station.
CBRE claimed that high rise areas of the proposed project will enjoy the most panoramic views towards Singapore skyline and Orchard Road while those in lower floor flats will enjoy the beautiful view of Oxley area.
This marks the 4th collective sale bid of Riviera Point.