The tender for sale of Elizabeth Towers has been re-launched by Knight Frank Singapore, the marketing agent for this collective sale.
Elizabeth Towers is a freehold multi-storeyed residential site located at Orchard Road. The owners haven’t changed the asking price of $610 million which they had set during last year’s collective bid sale.
The residential property occupies a GFA or gloss floor area of 23,452 square meters which when translated into land rate means that the pricing holds at S$2,416 psf ppr.
Subject to approval from authorities, there is likely to be an additional 7% inclusion in the balcony area. Including the development charges for the balcony, the land rate will be down to S$2,297 psf ppr.
There are eighty maisonette units and apartments divided into 2 residential blocks that are spread over 185 sq. m and 417 square meters.
Under 2014’s Master Plan, Elizabeth Towers has been tagged as a residential property which is cover over 5,046 square meters.
One can access the property from both Mount Elizabeth Link and Mount Elizabeth and the centrally located property is just a 6-min walk from Orchard MRT station.
The Anglo-Chinese Junior School is within 1km while Singapore Chinese Girls’ Primary and St Margaret’s Primary School are just 2 kms away. St. Joseph’s Institution is also close by.
Ian Loh, the Head of Investment and Capital Markets and the executive director of Knight Frank said that the property is ideal for developers who are looking for rare and choicest residential buildings for redevelopment.
He said that there are strong possibilities that the property will attract many developers considering its prime location and other positive attributes.
The last date for tender submission is 26th February by 3:00 P.M.