Elizabeth Towers up for collective sale for $630mil
Elizabeth Towers found at Mt Elizabeth within Orchard Rd has recently gotten set up for enbloc, with a set aside deal of $Six hundred Thirty mil, revealed single advertising agent Edmund Tie.
The rate, that takes into consideration the 7 percent reward balcony spot, solves to a “convincing land estimate” of about $2.4K per square ft ppr.
Holding a surface area of 54,317.9 square foot, the rental free ground in Area 9 occupies an unique edge land. It is sector for housing usage under the 2019 Master Plan including a property elevation of until 36 floors.
Edmund Tie noticed in which the ground might probably be redeveloped “up to its validated latest GFA of Two hundred Fifty Two thousand Four hundred Thirty Eight square foot or lot ratio Four point Six Five”.
A five minute stroll to Orchard also Somerset train stations, the location is nearby several amenities including NAC, ION Orchard, Paragon, The American Club, TC, Mount E Medical Centre, Paragon Medical Centre, Dempsey Hill and Singapore Botanic Gardens.
The ACS (Junior) is within an One kilometre radius, while SMPS, SJIJ as well as Singapore Chinese Girls’ School are actually in less than 2 km via the location.
With this, the promoting and marketing representative predicts “very keen interest” equally from regional and offshore property developers.
” Elizabeth Twrs takes joy in a distinct locality nestled in the distinguished Mt Elizabeth residential area at the middle of the Orchard Road retail and life style center, using the greatest of satisfaction also exclusivity,” claimed Swee S.F., ED of Inv Advisory at Edmund Tie.
” This is a gold edge lot using the triumphant bidder an uncommon opportunity to produce an ultra-luxury residence spots in the heart of Orchard Rd.”
The tender for Elizabeth Towers ceases on 15Dec.