Elizabeth Towers in Orchard Road Relaunched for Collective Sale at S$630 million
Singapore, 6 May 2022 – Edmund Tie & Company (EDMUND TIE), as the sole marketing agent, is putting up for sale via tender, a prestigious freehold residential site located at 12 and 14 Mount Elizabeth. The site currently seats a residential development, Elizabeth Towers. The tender for Elizabeth Towers closes on 25 July 2022 at 3pm.
Elizabeth Towers occupies a rare corner site of approximately 54,317 sq ft. The site is zoned for “Residential” use, with a building height of up to 36 storeys under URA’s Master Plan 2019, and it can be redeveloped up to its verified existing gross floor area of 252,438 sq ft or at a plot ratio of 4.65.
The reserve price for Elizabeth Towers is S$630 million, and after considering an 8% bonus floor area, this reflects a land rate of approximately S$2,400 per sq ft per plot ratio.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “This is a trophy corner plot offering the successful bidder a rare opportunity to create an ultra-luxury residential landmark that reflects city living at its finest, in the heart of Orchard Road. … … The recent transactions of luxury homes within the prestigious District 9 and 10 locales in the first five months of this year reflect buyers’ strong demand and continued confidence in the luxury residential market in Singapore.
On the back of the influx of wealth into Singapore where high-net-worth individuals seek diversification and exclusivity, and the number of freshly minted local millionaires and billionaires in recent years, we are confident that the future luxurious residential project will command a strong pool of interested investors and owner occupiers; what’s more, at this strategic location.”
For additional details, please download the press release below.
For further information contact:
Swee Shou Fern (Ms)
DID: +65 6393 2523
Media please contact:
Seah Li Ching (Ms)
DID: +65 6393 2369
|Download press release|