Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m
Helene Tian
FREEHOLD residential property Elizabeth Towers 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 put up for sale at the same price in November 2021.
Located at 12 and 14 Mount Elizabeth, the property sits on a site area of 54,317 square feet (sq ft).
The price takes into account an 8 per cent bonus floor area and reflects a land rate of approximately 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 under the Urban Redevelopment Authority’s Master Plan 2019. 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.
Elizabeth Towers is located within 200 metres of Orchard Road and is also a 5-minutes walk to both Orchard and Somerset MRT Station.
The real estate consulting firm noted that Elizabeth Towers is located in District 9, which showed strong buying demand in the luxury residential market in the first 5 months of the year.
“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,” said head of investment advisory at Edmund Tie Swee Shou Fern.
The public tender exercise will close on Jul 25 at 3 pm.
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