Three developments have been put up for collective sale by their respective owners:
Newton Lodge at Newton Road will carry a minimum price tag of $44 mil. Based on a land area of 21,409 sq feet and a plot ratio of 1.4, it translates to $1,359 psf/plot ratio. The site may be redeveloped into a low-rise apartment project, serviced residence or a custom-built co-living development. The tender will close on 26 February 2019.
Elizabeth Towers, off Orchard Road, was put up for sale by the owners at a reserve price of $610 mil. This is the same as the asking price when it was it up for sale in Jun 2018. The price works out to $2,416 psf/plot ratio based on its current gross floor area (GFA) of 252,437 sq ft. The tender will close on 26 February 2019.
Grange Heights at St Thomas Walk was relaunched for sale with a reserve price of $820 mil, the same as in the second tender exercise that closed without a deal on 29 October 2018. It has a land area of 136,676 sq ft and a plot ratio of 2.8. The new tender exercise for Grange Heights closes on 11 March 2019.
Photo credit: Straits Times