Fourth Avenue site sold to Allgreen Properties for $533m
Fourth Avenue site was successfully sold to Allgreen Properties from the Government Land Sales (GLS) programme, which is the third site located along Bukit Timah Road. Allgreen Properties came up with a winning bid of $553m, translating to $1,540 psf ppr.
According to DBS Equity Research, Allgreen Properties purchased the Fourth Avenue site at a price that is 21% below from en-bloc sale of Royalville, which is a freehold condominium located less than 0.5km away.
The property developer previously had also bidded for Royalville at $1,960 psf ppr.
As one of the prime site that is located right next to the Sixth Avenue MRT station, it is also within close proximity to several prominent schools such as Raffles Girls’ Primary School, Hwa Chong Junior College and Nanyang Primary School.
The upcoming residential project is to be named and known as Fourth Avenue Residences. Visit this site for the latest project information.
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