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Royalville Print E-mail

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1. Written by News on 08-04-2008 12:22
Lower en bloc price tag
Royalville back with lower en bloc price tag.  
Royalville in Bukit Timah, off Sixth Avenue, has been relaunched - this time with a 10-15% lower asking price than in October last year. However, the property is still being launched based on last year's collective sale agreement signed under the old rules and the reserve price is believed to be the same.  
Last year, Royalville's asking price was $330-350 million, which worked out to $1,235 to $1,305 per square foot (psf) of potential gross floor area, including development charges (DC) at the time. This time, the 174,176 sq ft freehold Royalville site is being packaged with an 8,420 sq ft adjoining drainage reserve being sold by the Official Receiver. The two properties, which are being marketed by Credo Real Estate, have a combined asking price of about $305 million. This reflects a unit land price of $1,106 psf per plot ratio inclusive of $6 million DC for the two sites.

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