Elizabeth Towers up for collective sale for $630mil
Elizabeth Towers located at Mt E within Orchard Road has recently gotten put up for enbloc, with a reserve figure of $Six hundred Thirty mil, disclosed sole promotion and marketing rep Edmund Tie.
The rate, which takes into consideration the 7 percentage bonus balcony area, figures out to a “compelling land estimate” of approximately $2.4K per square foot ppr.
Holding a surface area of Fifty Four thousand Three hundred Seventeen point Nine square feet, the rental free site in Area Nine inhabits a rare corner lot. It is sectioned for housing utilization under the 2019 Master Plan with a building altitude of as much as Thirty Six levels.
Edmund Tie considered in which the location might perhaps be redeveloped “until its verified latest gross floor area of 252,438 square feet or plot proportion Four point Six Five”.
A five minute walk to Orchard and also Somerset MRT terminals, the ground is near multiple services such as Ngee Ann City, ION Orchard, Paragon, The American Club, TC, Mt Elizabeth Medical Centre, Paragon Medical Centre, Dempsey Hill including SGP Botanic Gardens.
The Anglo Chinese Sch (Junior) is within a 1km distance, while St Margaret’s Primary School, St Joseph’s Institution Junior and also SCGS are actually within 2km via the location.
Utilizing these benefits, the promotion and marketing representative forecasts “extremely eager involvement” either coming from local including abroad builders.
” Elizabeth Towers takes pleasure in a remarkable site situated in the renowned Mount E housing enclave in the middle of the Orchard Rd retail and also way of life center, supplying the optimal of convenience as well as exclusivity,” shared Swee Shou Fern, ED of Inv Advisory at Edmund Tie.
” This plot is a gold corner ground delivering the successful bidder an unusual venture to develop an ultra-luxury non commercial site in the core of Orchard Road.”
The tender for Elizabeth Twrs ends on 15December.