Elizabeth Towers up for collective sale for $630mil
Elizabeth Towers based at Mt E within Orchard Rd has gotten made for combined sale, with a set aside price of $6hundred 30 mil, disclosed sole advertising rep Edmund Tie.
The figure, which considers the 7 % additional balcony area, figures out to a “convincing land estimate” of roughly $2.4K per square feet per PR.
Carrying a surface area of 54,317.9 square foot, the freehold ground in Area Nine utilizes an unique edge piece. It is zoned for non commercial utilization following the 2K19 Master Plan with a building peak of right up to Thirty Six floors.
Edmund Tie indicated that the site might be reconstruct “as high as its confirmed current GFA of 252,438 square feet or ground ratio 4.65”.
A 5 minute walk to Orchard and also Somerset Mass Rapid Transit stations, the plot is close-by numerous services consisting of Taka, ION Orchard, Paragon, TAC, TC, Mount Elizabeth Medical Centre, Paragon Medical Centre, Dempsey Hill and also S’pore Botanic Gardens.
The ACS (Jr) is within a 1km distance, while at the same time SMPS, St Joseph’s Institution Jr and S’pore Chinese Girls’ School are actually within 2 kilometers via the location.
By having these strength, the promotion and marketing rep forecasts “very intense interest” equally from local plus abroad property developers.
” Elizabeth Twrs enjoys an awesome locality snugged in the distinguished Mount Elizabeth housing territory inside the core of the Orchard Road shopping and lifestyle center, offering the ideal of satisfaction and exclusivity,” reported Swee Shou Fern, Exec Dir of Inv Advisory at Edmund Tie.
” This plot is a trophy edge piece supplying the triumphant prospective buyer an infrequent business opportunity to produce an ultra high-class residence building in the center of Orchard Road.”
The tender for Elizabeth Towers wraps up on 15Dec.