,Singapore

Elizabeth Towers relaunched for en bloc sale at $610m

Its price tag is the same six months after its first en bloc sales attempt.

Elizabeth Towers in Orchard Road is once again up for collective sale by tender for $610m, Knight Frank revealed. It was also put up for sale back in June 2018 but had failed to be sold by the end of its tender in July.

Comprising of two residential blocks of 80 apartment units and maisonette units sized between 185 sqm to 417 sqm, the development has a total site area of 5,046.3 sqm. The site is zoned “Residential” under the 2014 Master Plan with redevelopment potential to reach a maximum height of 36 storeys, subject to authorities’ approval.

The development is located in a vicinity with an array of retail malls, a premium hospital, hotels, landed homes and high-end condominiums, with Paragon Shopping Centre and Mount Elizabeth Hospital less than 200 metres’ walk from the development. International schools and established local schools are also a close drive away such as the Anglo-Chinese School (Junior) and Anglo-Chinese School (Primary), St. Joseph’s Institution Junior, amongst others.

Elizabeth Towers is also accessible by major arterial roads as well as expressways, such as the Central Expressway (CTE), Orchard Road and Cairnhill Road whilst the Orchard MRT station is a 6 minutes’ walk away.

Based on its current as-built Gross Floor Area (GFA) of 23,452.286 sq m which has been verified by the authorities, the development’s price of $610m translates to a land rate of approximately $2,416 psf ppr. With the inclusion of a 7% bonus balcony GFA, subject to authorities’ approval, and minimal development charge payable for the balcony area, the land rate is lowered to approximately S$2,297 psf ppr.

The tender for Elizabeth Towers will close on Tuesday, 26 February 2019 at 3:00 p.m.
 

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