Crystal Court on the market for $115 mil

here:Crystal Court is a five-storey mixed-use development in a prime location in Singapore’s District 10. The two properties up for sale by tender have a land area of 20,787 sq ft and a total road frontage of 90m. The guide price for Crystal Court is $115 million, reflecting a land rate of $2,456 psf per plot ratio. Along with the potential to develop a five-story building with a gross floor area of 58,200 sq ft, the buyer can also explore alternative uses for the site such as serviced residences, co-living residences, hotel or post-partum care center, subject to approval from the authorities.

August 21, 2021 marks the end of the tender for the sale of Crystal Court and the adjoining plot of private land with a deadline of 3pm Nov 20. Situated at the corner of River Valley Road and Nathan Road, the two properties have a total land area of 20,787 sq ft and 90m of total road frontage.

Lumina Grand EC CDL is located in Tampines Ave 10 and is just minutes away from the upcoming Cross Island Line. This development provides residents with tremendous convenience as well as easy access to the upcoming Johor Bahru City Centre. Apart from this, prospective home buyers can also look forward to the upcoming Tampines North MRT Station, a mere 500m away from the development. The improved transport links are a boon as it makes it easier for residents to move around and explore the city. All these developments set a promising future for Lumina Grand EC as it continues to draw potential homebuyers.

Crystal Court is a five-storey mixed-use development built in the 1980s. It comprises a basement car park, a commercial unit on the ground floor, and 16 apartment units on the upper floors ranging between 1,109 and 2,637 sq ft. Meanwhile, the adjoining plot of private land has an area of 4,058 sq ft and serves as a private service road with surface car park lots.

The two plots are zoned for commercial and residential use under the Master Plan 2019. According to Edmund Tie & Co’s press release, interested parties are to submit separate tender bids for each property, with Crystal Court having a guide price of $115 million, which works out to a land rate of about $2,456 psf per plot ratio.

Swee Shou Fern, head of investment advisory at Edmund Tie, states that mixed-use sites near the Orchard Road area are “hard to come by”. She adds that, “Considering Crystal Court’s strategic location, coupled with its bite-sized quantum, this is an exceptional opportunity which offers an enticing proposition for developers to expand their presence in one of Singapore’s most coveted districts.”

The last time a unit at Crystal Court was sold was in October 2021, making this an ideal investment opportunity to acquire a property in a prime location. In addition to developing a five-story building with a total gross floor area of 58,200 sq ft and a plot ratio of 2.8, potential buyers can also explore the possibility of alternate uses for the site, including serviced residences, co-living residences, hotel or post-partum care centre, all subject to approval from the authorities.

This is a great chance to purchase two properties in a prime location with the potential to create an exceptional commercial and residential space in Singapore’s District 10. These unique properties are sure to attract many competitive bids before the tender ends, so act fast to grab a piece of this golden opportunity!