Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m

by Albert02

Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m

Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m.  Elizabeth Towers, a freehold residential property, is up for collective sale again via public tender on Monday, with a reserve price of S$630 million, according to sole marketing agent Edmund Tie (Jun 13). The property was previously listed for sale at the same price in November 2021. The property has a site area of 54,317 square feet and is located at 12 and 14 Mount Elizabeth (sq ft). The price includes an 8% bonus floor area and is based on a land rate of approximately S$2,400 per sq ft per plot ratio.

According to the Urban Redevelopment Authority’s Master Plan 2019, the site is zoned for residential use with a building height of up to 36 storeys. It has a verified existing gross floor area of 252,438 square feet and a plot ratio of 4.65. Elizabeth Towers is 200 metres from Orchard Road and a 5-minute walk from both Orchard and Somerset MRT Stations. Elizabeth Towers is located in District 9, which had strong buying demand in the luxury residential market in the first five months of the year, according to the real estate consulting firm.

“Given its strategic location, we are confident that the future luxurious residential project will attract a large number of interested investors and owner occupiers,” said Edmund Tie Swee Shou Fern’s head of investment advisory.

The public tender process will conclude at 3 p.m. on 25 July 2022.

Click the image to read the full details of report.
Source:
https://www.businesstimes.com.sg/real-estate/elizabeth-towers-on-orchard-road-relaunched-for-collective-sale-at-s630m

 



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