Loyang Valley is up for auction with a suggested price of $980 million

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Loyang Valley, an apartment complex, will be open for collective sale via tender beginning on October 20 with an estimated cost of $980 million as per a press announcement released by Huttons on the 19th of October. Huttons Asia is the exclusive marketing agency for the property.

The site is designated for residential use, with an area ratio of 1.6 which covers 840,648 square feet of land. “The development could yield 1.35 million sq feet of built-up area , and 1,249 dwelling units, averaging 1,076 square feet,” states Terence Lian, head of investment sales at Huttons.

The indicative price is the land rate being $997 per square foot in plot proportions (ppr) comprising an estimated Land Betterment Charge (LBC) of $174 million, and the lease upgrading fee in the amount of $187million. Incorporating the seven% bonus balcony floor area as well as another LBC worth $57million the land price would be reduced to $972 psf per plot ratio.

The current complex comprises seven four-storey apartments comprising 362 housing units.

There are 638 homes within a mile from the area.

Loyang Valley is located near the new Loyang MRT Station on the Cross Island Line, which is scheduled to be completed by 2030. It is located in the east region It is just a short drive away from business clusters such as Changi Business Park and Changi Aviation Park.

“The site is perfect for residences for resorts in a beautiful environment,” notes Lian.

The tender closes on the 15th of December at 2pm.