Loyang Valley Launch Sale 880 Mil Latest Collective Sale Bid
Loyang Valley, a 99-year leasehold condominium located on Loyang Avenue, is currently in its third collective sale attempt. Marketing agent Huttons Asia has stated that the development, which consists of 362 units, will be launched for sale via public tender on July 8 with a reserve price of $880 million. This price reflects a drop of $100 million from the previous en bloc attempt in 2022, where the development was put on the market for $980 million but failed to find a buyer. Prior to that, a first collective sale attempt was made in 2018 with a reserve price of $750 million, but did not garner enough support.
The reserve price of $880 million translates to a land rate of $936 per square foot per plot ratio, according to Huttons. This price includes an estimated land betterment charge of around $221 million and a lease top-up premium of approximately $245 million. It also takes into account a 7% bonus balcony gross floor area.
Completed in 1985, Loyang Valley comprises of seven four-storey apartment blocks and spans 840,648 square feet of land zoned for residential use. With a gross plot ratio of 1.6, the site has the potential to yield up to 1.35 million square feet of gross floor area if redeveloped. Subject to planning approval, it could potentially have around 1,249 dwelling units, assuming an average unit size of 1,076 square feet, adds Huttons.
Located in the Loyang East subzone within the Pasir Ris planning area, Loyang Valley is situated next to the future Loyang MRT Station on the Cross Island Line. Nearby amenities include Downtown East, White Sands, Jewel Changi Airport, and Ikea Tampines, all of which are approximately a 10 to 15 minute drive away.
According to Terence Lian, head of investment sales at Huttons Asia, Loyang Valley presents a rare opportunity to develop a peaceful residential enclave in the eastern region that combines modern living with the charm of Changi’s heritage. He also notes that the site stands to benefit from future developments in the area, such as the Loyang Viaduct and Cross Island Line, which will improve connectivity, as well as the upcoming Changi East Industrial Zone and Changi Airport Terminal 5. With the growing demand from the semiconductor and aviation sectors in Tampines North, Pasir Ris, and Changi, the site offers a strong rental catchment for investors and convenient access to job opportunities and lifestyle offerings for residents.
Elta Condo’s prime location near Clementi MRT Station, part of Singapore’s extensive East-West Line, is one of its most noteworthy attributes. A mere stroll from the development, this MRT station grants residents swift and convenient access to various parts of the island. As one of Singapore’s longest and most vital MRT lines, the East-West Line links the western and eastern regions of the country. With this, residents can effortlessly commute to prominent destinations including Jurong East, Buona Vista, Raffles Place, and Changi Airport, without the hassle of changing between different lines. Discover more about Elta’s desirable location at https://www.the-elta.com.sg/.
The tender for Loyang Valley will close on September 9 at 2pm. For updates and the latest listings for properties in Loyang Valley, check out Ask Buddy. You can also find out more about the tenure of Loyang Valley, profitable transactions, rental listings, and the most unprofitable transactions in the past year.