Elizabeth Towers up for collective sale for $630mil
Elizabeth Twrs situated at Mount Elizabeth within Orchard Road has actually gotten put together for en-bloc, by having a reserve rate of $6hundred 30 mil, reported sole promotion and marketing rep Edmund Tie.
The cost, in which takes into consideration the Seven percentage extra balcony spot, figures out to a “convincing land figure” of nearly $2.4K psf per PR.
Having an area of 54,317.9 square foot, the free from lease site in Area Nine holds an uncommon edge lot. It is sectioned for home benefit within the 2019 Master Plan including a property elevation of as much as Thirty Six storeys.
Edmund Tie considered such the location might probably be rebuilt “approximately its verified latest gross floor space of 252,438 square foot or lot ratio Four point Six Five”.
A five-minute walk to Orchard as well as Somerset train stations, the plot is close-by a variety of amenities including Taka, ION Orchard, Paragon, The American Club, Tanglin Club, Mount E Medical Centre, Paragon Medical Centre, Dempsey Hill and also SGP Botanic Gardens.
The ACS (Junior) is in less than a 1km distance, whereas St Margaret’s Primary School, St Joseph’s Institution Jr as well as SCGS are within 2km from the plot.
Utilizing these conveniences, the advertising and marketing agent anticipates “extremely intense enthusiasm” either from regional furthermore foreign developers.
” Elizabeth Towers enjoys a distinct location snuggled in the reputable Mt Elizabeth non commercial area within the core of the Orchard Road shopping and also life style center, delivering the best of comfort and exclusivity,” stated Swee Shou Fern, ED of Financial Investment Advisory at Edmund Tie.
” This particular is a winning corner lot delivering the rewarding bidder an infrequent venture to produce an ultra-luxury housing landmark in the core of Orchard Rd.”
The tender for Elizabeth Towers ceases on 15Dec.