SINGAPORE, 22 November 2021 – Edmund Tie & Company (EDMUND TIE), as the sole marketing agent, is pleased to offer the collective sale of Elizabeth Towers – a prestigious freehold residential site commanding the most prime and prominent spot on Mount Elizabeth, off Orchard Road in coveted District 9.
Elizabeth Towers occupies a rare corner plot with a site area of 54,317.9 sq ft, enjoying unobstructed views of the Orchard Road skyline overlooking the three-storey landed housing estate.
The site boasts unparalleled exclusivity and convenience, located in an affluent residential enclave and within a two-minute stroll to Orchard Road, Singapore’s premier shopping and lifestyle district, where a plethora of dining and lifestyle offerings are conveniently available at its doorstep.
In its immediate vicinity are upscale shopping malls including Paragon, Ngee Ann City and ION Orchard, private clubs including Tanglin Club and The American Club, premium healthcare facilities at Paragon Medical Centre, Mount Elizabeth Medical Centre and Camden Medical Centre, as well as lifestyle destinations at Singapore Botanic Gardens and Dempsey Hill.
Under Master Plan 2019, the freehold land parcel is zoned for Residential use with a building height of up to 36 storeys. The site can be redeveloped up to its verified existing gross floor area of 252,438 sq ft or plot ratio 4.65.
Elizabeth Towers enjoys excellent connectivity being within a five-minute stroll to Orchard and Somerset MRT Stations serving the North-South Line. Centrally located, the site is within 10 minutes’ drive to Raffles Place and 18 minutes’ drive to Singapore Changi Airport. The site also enjoys easy access to the rest of Singapore via the Central Expressway that is located just a minute’s drive away.
The distinguished Anglo Chinese School (Junior) is located within 1km radius from the site while St Joseph’s Institution Junior, Singapore Chinese Girls’ School and St Margaret’s Primary School are located within 2km.
Singapore luxury residential market has witnessed strong buying demand in the past year. Some notable transactions of luxury homes recorded this year include the sale of a 8,385 sq ft penthouse at Hilltops at S$33.5 million (S$3,995 per square foot). A 3,057 sq ft apartment at The Ritz Carlton Residences changed hands at S$15 million (S$4,907 psf) in October this year. All twenty units at EDEN were sold in March this year at a total of S$293 million or an average price of $4,827 per square foot. In May, a penthouse of 5,899 sq ft at Park Nova was sold at S$34.438 million (S$5,838 psf). Just last month in October, a penthouse of 12,077 sq ft at Les Maisons Nassim was sold at S$75 million (S$6,210 psf).
Executive Director of Investment Advisory at EDMUND TIE, Ms Swee Shou Fern commented: “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. 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 reserve price for Elizabeth Towers is $630 million. Priced at a compelling land rate of approximately $2,400 per square foot per plot ratio (psf ppr) taking into account the 7% bonus balcony area and coupled by its exceptional location and site attributes, we expect very keen interest from local and overseas developers vying for Elizabeth Towers.
The tender for Elizabeth Towers closes on Wednesday, 15 December 2021, at 3pm.
For further information contact:
Media please contact:
Swee Shou Fern (Ms)
DID: +65 6393 2523
Chan Yee Yin (Ms)
DID: +65 6393 2369
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