Updates from The Avenir Developer

We are still open for sales during the circuit breaker period! Showroom will be closed but purchases can still be made remotely. Please use the contact form if you require assistance. Our salesperson will get back to you soonest.

10/11/19: Showroom will be opening in November. Booking starts 6th December. Register with us to get latest info and VVIP Discounts

1/11/19: Register your interest with us for priority viewing and advance information.

[Register to Receive Updates]

The Avenir Price Guide & Pricing Estimate PSFs

The Avenir Price: The most affordable unit will be priced from 1.5m onwards, subject to change. This works out to a final sales price of approximately 3000-3200psf. 

No. of Rooms Unit Type Sqm Sqft No. of Units Stack Price Min. Price Max.
1 Bedroom (1)b 49 527 34 02 $1,550,000 $1,870,000
(1)a 50 538 35 07 $1,580,000 $2,022,000
2 Bedroom (2)a 77 829 34 01 $2,432,000 $2,861,000
(2)b 75 807 35 04 $2,358,000 $2,800,000
3 Bedroom (3)a 106 1,141 69 03, 06 $3,324,000 $3,937,000
3 Bedroom + Private Lift (3L)a 146 1,572 33 08 $4,761,000 $5,529,000
(3L)b 142 1,528 35 05 $4,455,000 $5,271,000
4 Bedroom + Family + Private Lift (4+1)a 224 2,411 34 11 $7,304,000 $8,358,000
4 Bedroom + Private Lift (4)a 191 2,056 33 09 $6,229,000 $7,093,000
(4)b 192 2,067 34 10 $6,263,000 $7,127,000

Price History:

  • The acquisition of Pacific Mansion, is the biggest collective sale in more than a decade. At 980 million SGD, the breakeven price is estimated to be 2530-2800psf for The Avenir Developer, Carmel Development.
  • The purchase price for The Avenir works out to a land rate of close to S$1841 per square foot per plot ratio (psf ppr). The land rate forms a base towards calculating the final selling price for all projects. The land rate also forms most and a bulk of the final purchse price for the buyers.
  • The per unit final sales price of the unit is then derived after taking into consideration construction costs, legal costs, administrative costs, and other misc costs, thereby working out the finals sales price of approximately 3000-3200psf. Any final price adjustments will be communicated to the buyers.
  • The Avenir purchasing price latest deal marks the largest transaction in the current collective sale cycle, exceeding Tampines Court’s $970 million and Amber Park’s $907 million, and is surpassed only by the sale of Farrer Court for $1.34 billion in 2007.
  • Pacific Mansion comprises 288 apartments and two commercial units. Owners representing more than 80 per cent of the strata area and share value of the development have consented to the collective sale. Each residential unit owner received a gross payout of $3.26 million to $3.48 million. The shop units received between $2.2 million and $4.5 million.
  • The average The Avenir psf will be around 3000-3200psf, not withstanding external market and interest rates fluctuations or property measures.
  • The above estimates are prepared and based on best effort basis, historical trends, expected construction costs, land costs, marketing costs, and profit margins. The eventual selling price may differ albeit not expected to a large extent.
  • All information reflected here are subject to changes. No damages or claims shall be made from owner of the website.

Sales Transaction

Date Address Type of Sale Area
(sqft)
Type of Area Price
(S$ psf)
Price
(S$)
Purchaser Address
9 Mar 20 8 River Valley Close #04-07 New Sale 538 Strata 2,973 1,600,000 N.A
30 Jan 20 10 River Valley Close #35-11 New Sale 2,411 Strata 3,481 8,392,000 N.A
22 Jan 20 10 River Valley Close #36-11 New Sale 2,411 Strata 3,495 8,426,000 N.A
22 Jan 20 8 River Valley Close #07-01 New Sale 829 Strata 2,997 2,484,000 N.A
17 Jan 20 10 River Valley Close #33-11 New Sale 2,411 Strata 3,452 8,324,000 N.A
12 Jan 20 8 River Valley Close #09-01 New Sale 829 Strata 3,028 2,510,000 N.A
11 Jan 20 10 River Valley Close #28-08 New Sale 1,572 Strata 3,396 5,337,000 N.A
11 Jan 20 10 River Valley Close #06-08 New Sale 1,572 Strata 3,060 4,809,000 N.A
11 Jan 20 10 River Valley Close #33-10 New Sale 2,067 Strata 3,422 7,073,000 N.A
11 Jan 20 10 River Valley Close #36-10 New Sale 2,067 Strata 3,462 7,154,000 N.A

If you’d like additional info on The Avenir payment schemes, floor plans, site plans, perks and hotel related matters, please feel free to submit your request on our contact form. We endeavour to get back with a response within 18 hours.

Updates from The Avenir Developer

We are still open for sales during the circuit breaker period! Showroom will be closed but purchases can still be made remotely. Please use the contact form if you require assistance. Our salesperson will get back to you soonest.

10/11/19: Showroom will be opening in November. Booking starts 6th December. Register with us to get latest info and VVIP Discounts

1/11/19: Register your interest with us for priority viewing and advance information.

[Register to Receive Updates]

Site History

The Avenir Condo is sited on the Pacific Mansion site. The Avenir Site was previously a 288-unit freehold condominium development. CBRE brokered the deal and it was sold to Carmel Development Pte Ltd (Joint Venture of Hong Leong Holdings Limited, Guocoland Limited, and Hong Realty)

The Avenir Site was acquired at a cost of $980 million.

The previous Pacific Mansion development consists of 4 residential blocks, within of which consist of another 2 commercial units. Sizes of the previous The Avenir Condo ranges up to 1528sqft. The prime site location at River Valley Road is surrounded by eateries, walking distance to Somerset, luxury condominiums of River Valley, minutes walk to Singapore River, and of course, just 150m from Great World MRT Interchange.

The Avenir will enjoy unobstructed views of the city skyline.

The Avenir Pacific Mansion Enbloc:

Carmel Development Pte Ltd winning bid is for $980 million, for the site which has an area of 8,866.9sqm or, translating to 95,442 sqft.

Their acquisition of Pacific Mansion in District 9 marks the biggest collective sale in more than a decade and the second-highest on record, according to CBRE, which brokered the deal.

Singapore-listed GuocoLand, controlled by Mr Quek, announced yesterday that it has successfully tendered for the site with Intrepid Investments and Hong Realty.

Both Intrepid Investments and Hong Realty are majority-owned by Hong Leong Investment Holdings (HLIH), which is effectively controlled by Mr Kwek, though other family members also own stakes in these companies.

GuocoLand and Intrepid Investments each hold a 40 per cent stake in the project, while Hong Realty owns a 20 per cent interest.

CBRE director of capital markets Galven Tan said that the tender for Pacific Mansion drew interest from a handful of local and foreign developers.

For The Avenir PSF and price details please read below pricing advice.
Read more at https://www.straitstimes.com/business/property/pacific-mansion-sold-en-bloc-for-980m-in-second-highest-deal

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