Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m

by Albert02

Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m

Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m.  Elizabeth Towers, a freehold residential property, is up for collective sale again via public tender, with a reserve price of S$630 million, said sole marketing agent Edmund Tie on Monday (Jun 13). The property was previously listed for sale in November 2021 at the same price. The property is located at 12 and 14 Mount Elizabeth and has a site area of 54,317 square feet (sq ft). The price includes an 8% bonus floor area and reflects a land rate of around S$2,400 per sq ft per plot ratio.

The site is zoned for residential use, with a building height of up to 36 storeys, according to the Urban Redevelopment Authority’s Master Plan 2019. It has a plot ratio of 4.65 and a verified existing gross floor area of 252,438 square feet. Elizabeth Towers is located 200 meters from Orchard Road and a 5-minute walk from both the Orchard and Somerset MRT Stations.

According to the real estate consulting firm, Elizabeth Towers is located in District 9, which had strong buying demand in the luxury residential market in the first five months of the year. “We are confident that the future luxurious residential project will attract a large number of interested investors and owner occupiers, especially given its strategic location,” said Edmund Tie Swee Shou Fern’s head of investment advisory.

The public tender process will end on July 25 at 3 p.m.

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Source:
https://www.businesstimes.com.sg/real-estate/elizabeth-towers-on-orchard-road-relaunched-for-collective-sale-at-s630m


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