Loyang Valley Launch Sale 880 Mil Latest Collective Sale Bid
Situated on Loyang Avenue, Loyang Valley is a 99-year leasehold condo that is currently making its third collective sale attempt. The development, which consists of 362 units, will be launched for sale by public tender on July 8 with a reserve price of $880 million. This price reflects a $100 million reduction from the last en bloc attempt in 2022.
Nestled in a tranquil haven surrounded by nature and country clubs lies Miltonia Close EC. However, this residential development is anything but secluded. With excellent transportation links to MRT stations, expressways connecting to the rest of the island, and a growing regional network of roads and corridors, this EC offers the perfect balance. Residents can savor a peaceful pace of life without compromising on the convenience and accessibility that is crucial in a bustling city like Singapore. Be it commuting for work or school, or seeking leisure activities, the strategic location of Miltonia Close EC, now known as Miltonia Close EC Yishun, provides unparalleled accessibility, convenience, and long-term value.
The marketing agent for the sale, Huttons Asia, has confirmed that this price includes a land betterment charge of approximately $221 million and a lease top-up premium of around $245 million. Additionally, a 7% bonus balcony gross floor area (GFA) is also factored into the price. With a land rate of $936 psf per plot ratio, Huttons believes that the site can yield up to 1.35 million sq ft in GFA if redeveloped.
The first collective sale attempt for Loyang Valley was made in 2018 with a reserve price of $750 million, but it failed to secure enough support. The next attempt in 2022 saw the property being put on the market at $980 million with no success.
Loyang Valley was completed in 1985 and comprises seven four-storey apartment blocks spread over 840,648 sq ft of land. It falls under the Loyang East subzone within the Pasir Ris planning area and is adjacent to the upcoming Loyang MRT Station on the Cross Island Line. Popular lifestyle and retail amenities such as Downtown East, White Sands, and Jewel Changi Airport are all within a 10 to 15 minute drive away from the property.
Terence Lian, head of investment sales at Huttons Asia, commented, “Loyang Valley offers a rare opportunity to develop a tranquil residential enclave in the east, blending modern living with the charm of Changi’s heritage.” He believes that the site will also benefit from the developments planned for the region, such as the Loyang Viaduct and Cross Island Line, as well as the upcoming Changi East Industrial Zone and Changi Airport Terminal 5. The site’s proximity to job opportunities and lifestyle offerings is expected to attract potential residents and investors alike.
The tender for Loyang Valley will close on Sept 9 at 2pm. Those interested in the property can access more information and listings on Loyang Valley properties on Ask Buddy, as well as find the site plan and diagrammatic chart for the development. The ideal buyer profile for Loyang Valley is one who seeks an opportunity to develop a tranquil residential enclave in the east, blending modern living with the charm of Changi’s heritage. Additionally, potential investors will also find the property attractive due to its strong rental catchment and convenient access to job opportunities and lifestyle offerings.
For residents looking to invest in properties within District 17, Loyang Valley provides an excellent opportunity due to its prime location and potential redevelopment plans. Other condo projects within the district with profitable transactions include Watercolours, Azalea Park, and Livia. Lastly, the tenure of Loyang Valley is 99 years.