Riverside Piazza up for en bloc sale with S$198m reserve price

Singapore

THE RIVERSIDE Piazza near Clarke Quay will be put up for collective sale via tender at a reserve price of S$198 million on Nov 5, marketing agent Colliers International said on Monday.

The Riverside Piazza comprises 40 apartments and 24 commercial shops, with sizes ranging from 58 sq m to 333 sq m (624 sq ft to 3,584 sq ft). Upon completion of the sale, each owner could stand to receive between S$2.23 million and S$9.47 million, depending on the size of their unit.

The reserve price for the 99-year leasehold property works out to a land rate of S$2,606 per square foot per plot ratio (psf ppr), inclusive of the estimated differential premium to convert to hotel use, at its existing balance land tenure of about 7…