Located at 30 Mount Elizabeth, the 22-storey residential property, High Point, has been acquired for $557 million by Shun Tak Holdings.
Shun Tak Holdings, via its wholly-owned subsidiary Shun Tak High Point, has acquired District 9 residential development High Point for $557 million.
The group intends to redevelop the property – which is its fifth property acquisition in downtown Singapore within five years – into a luxury residential development with project completion set in 2027.
Located at the peak of Mount Elizabeth within the Orchard Road residential area, the 22-storey residential development was launched for en bloc sale in October with a guide price of $550 million. The price was unchanged from its earlier en bloc bid in 2019.
Completed in 1973, the freehold development occupies a 47,606 sq ft site that is zoned for Residential use under the 2019 Master Plan with an allowable gross plot ratio of 2.8 and a height limit of up to 36 storeys.
It is a mere seven minutes’ walk to Orchard Road MRT station and is near various amenities including Mount Elizabeth Hospital, Paragon Medical, Singapore Botanic Gardens as well as private clubs Tanglin Club and The American Club.
“With the acquisition of this fifth property, we shall further expand our portfolio and foothold in Singapore and continue to bring in top-quality and unique elements to enrich the vibrant development of the city,” said Pansy Ho, Group Executive Chairman and Managing Director of Shun Tak.
She noted that the successful launches of their previous projects, including Park Nova and Les Maisons Nassim, demonstrated “Shun Tak’s strength in developing high quality residential projects with innovative concepts and creative touches that well-matched the demand of discerning buyers from both local and international markets”.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
