The tender for Crystal Court and the adjacent plot along River Valley Road will be conducted through independent submission of letters of intent to purchase, with a deadline set for 3:00 PM on April 9, 2024.
Crystal Court, an architectural gem with post-modernist features, occupies 1554.2 square meters of land at the junction of River Valley Road and Nathan Road, spanning five floors, including an underground car park, ground-level commercial units, and 16 residential units. The adjacent private plot covers 377 square meters and is currently utilized as a private service road with an open-air parking lot.
According to the Urban Redevelopment Authority's 2019 Master Plan, both plots are zoned for commercial and residential use. The tender guide price is SGD 115 million, equivalent to SGD 2456 per square foot of land.
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Ms. Xu Xiaofen remarked, "Crystal Court, designed by the late Australian architect Jeffrey Malone, boasts captivating post-modernist design features. The interior commercial units stand out due to soaring ceilings and extensive glass, offering successful buyers multiple redevelopment possibilities."
She further highlighted the convenient transportation in the project's location, with walking access to the Downtown Line's Great World MRT Station and easy access to various parts of Singapore via major arteries like the Central Expressway (CTE). Moreover, the surrounding area features abundant retail, dining, lifestyle, and entertainment facilities, making it a sought-after investment opportunity.
The investment threshold for Crystal Court is thoughtfully set, offering imaginative developers an exciting opportunity: converting existing building spaces for alternative uses such as serviced apartments, co-living residences, hotels, or even post-natal care centers. Alternatively, both plots could be redeveloped together into a five-story boutique mixed-use building with a total gross floor area of 5407 square meters and a plot ratio of 2.8.
Furthermore, the vicinity boasts many popular shopping centers, cafes, restaurants, and lifestyle stores, as well as several vibrant leisure destinations. For investors, this project is undoubtedly an exhilarating opportunity.
