Elizabeth Towers up for collective sale for $630mil

Cheryl Chiew24 Nov 2021

elizabeth-towers

Located at 12 Mount Elizabeth, Elizabeth Towers is a freehold site that sits on a 54,317.9 sq ft land plot. Source: Google Maps

Elizabeth Towers located at Mount Elizabeth within Orchard Road has been put up for collective sale, with a reserve price of $630 million, revealed sole marketing agent Edmund Tie.

The price, which takes into account the 7% bonus balcony area, works out to a “compelling land rate” of about $2,400 per sq ft per plot ratio (psf ppr).

With an area of 54,317.9 sq ft, the freehold site in District 9 occupies a rare corner plot. It is zoned for residential use under the 2019 Master Plan with a building height of up to 36 storeys.

Edmund Tie noted that the site may be redeveloped “up to its verified existing gross floor area of 252,438 sq ft or plot ratio 4.65”.

A five-minute walk to Orchard and Somerset MRT stations, the site is near various amenities including Ngee Ann City, ION Orchard, Paragon, The American Club, Tanglin Club, Mount Elizabeth Medical Centre, Paragon Medical Centre, Dempsey Hill and Singapore Botanic Gardens.

The Anglo Chinese School (Junior) is within a 1km radius, while St Margaret’s Primary School, St Joseph’s Institution Junior and Singapore Chinese Girls’ School are within 2km from the site.

Related article: 11 Popular Primary Schools in Singapore and Properties Within 1km of Them

With this, the marketing agent expects “very keen interest” both from local and overseas developers.

“Elizabeth Towers enjoys an exceptional location nestled in the prestigious Mount Elizabeth residential enclave in the heart of the Orchard Road shopping and lifestyle hub, offering the best of convenience and exclusivity,” said Swee Shou Fern, Executive Director of Investment Advisory at Edmund Tie.

“This is a trophy corner plot offering the successful bidder a rare opportunity to create an ultra-luxury residential landmark in the heart of Orchard Road.”

The tender for Elizabeth Towers closes on 15 December.

Looking for a property in Singapore? Visit PropertyGuru’s ListingsProject Reviews and Guides.

Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg

POST COMMENT

You may also like these articles

Sixth Avenue Centre up for collective sale for $85mil

Located at 805 Bukit Timah Road, Sixth Avenue Centre sits on a 15,009 sq ft land plot. Source: Google MapsSixth Avenue Centre, a 40-year-old mixed-development at 805 Bukit Timah Road, has been put up

Continue Reading12 Nov 2021

HDB upgraders on a condo buying spree

In the first nine months of 2021, 7,169 buyers with HDB addresses purchased new and resale private homes, a 21% increase from the same period last year.The rapid increase in Housing and Development

Continue Reading15 Nov 2021

Higher demand for BTO flats due to hike in marriages, more people choosing to have own flat

The overall number of BTO flat applications in 2020 was 87,800, up from 38,500 in 2018 and 51,400 in 2019.Singapore saw demand for Build-to-Order (BTO) flats more than double from 2018 to 2020, with

Continue Reading22 Nov 2021