Located at 30 Mount Elizabeth next to Orchard Road (District 9), the High Point condominium – a 22-story tower with 57 apartments and two penthouses – is up for public tender.
1973 by developer Mount Elizabeth Pte. completed. Ltd. and offers an unobstructed panoramic view of the city. High Point is at the end of an exclusive cul-de-sac within walking distance of the Paragon Mall and other amenities on Orchard Road, including medical facilities like Mouth Elizabeth Hospital and Paragon Medical, private clubs like Tanglin Club and The American Club and Singapore Botanic Gardens .
Nearby schools within 1 km include the Anglo-Chinese School (Junior) and the Eton House International Pre-School (Claymore). Anglo-Chinese School (Primary), Singapore Chinese Girls’ Primary and Secondary School, St. Joseph’s Institution, and St. Margaret’s Primary School are within 2 km.
In terms of transport, the MRT Orchard Road is a 7-minute walk away and will be a transfer station in 2022 as part of the Thomson-East Coast Line. When the latter network is fully completed in 2025, the Orchard station will provide residents with the additional connectivity to the CBD, North and East. Botanic Gardens (Napier Station) is two MRT stops away.
High Point’s current apartments are 268 m² and 272 m², while the penthouses are 589 m² and 592 m².
The 47,606 m² property, which is designated as “residential property” as part of the 2019 master plan, has a permissible gross land ratio of 2.8 and a height control of up to 36 floors. The current gross floor area (GFA) is approx. 211,976 sq ft (PR 4.45) with a development base of 213,383 sq ft (PR 4.48).
According to Savills, the exclusive marketing agent for the public tender, with an average size of 200 m² per unit, the site can be converted into an ultra-luxurious facility with up to 98 units.
“High Point is the first luxury residential location to go on sale in this joint sales cycle and we expect all local ‘luxury’ developers as well as some Hong Kong-based developers to be interested.
There is a shortage of large luxury units for sale in Singapore and High Point is ideal for an exclusive 36-story luxury project aimed at wealthy buyers in Singapore and the region, “said Jeremy Lake, Managing Director, Investment Sales & Capital Markets. Savills Singapore.
The target price is 550 million US dollars, which, after taking into account the 7 percent bonus GFA for balconies, corresponds to 2,508 US dollars per plot of land. The development fee payable for the 7 percent bonus GFA is approximately $ 18.8 million. According to Savills, recent strong sales at Parc Nova and Eden have given developers a lot of confidence that buyers are willing to pay high prices for top-notch luxury properties.
The announcement ends on December 8th, 2021, 3 p.m.
This article was first published in 99.co
