Elizabeth Towers’ enbloc sale was launched via tender on 6 June 2018, with closing date of 19 July. It was thus affected by the sudden 5 July cooling measures. As at the date of this writing, there have been no news.
The site is a prime, freehold high-rise residential redevelopment site off Orchard Road, with dual access from Mount Elizabeth and Mount Elizabeth Link. Elizabeth Towers comprises two residential blocks of 80 apartments and maisonette units ranging from 185 sq m to 417 sq m, and has a site area of 5,046.3 sq m (approx. 54,318 sq ft). The site is zoned “Residential” with a Gross Plot Ratio of 2.8 under the 2014 Master Plan, with redevelopment potential to reach a maximum height of 36 storeys, subject to authorities’ approval.
The reserve price for Elizabeth Towers is S$610 million. Due to the high as-built Gross Floor Area (GFA) of 23,452.286 sq m and development baseline of 24,416 sq m, no development charge is payable for the redevelopment of the site to the GFA of 23,452.286 sq m, and this translates to a land rate of approximately S$2,416 psf ppr.