The freehold service apartment block located at No. 2 Mount Elizabeth Link (the “Property”), has been put up for sale via a Tender exercise by the exclusive marketing agent, Cushman & Wakefield.
The 22-storey tower block comprises 72 apartment units with sizes ranging from 760 sq ft to 7,135 sq ft. The Property sits on a regular plot with a land area of about 35,385 sq ft and has a total gross floor area of approximately 104,375 sq ft, which translates to a Plot Ratio of 2.95, exceeding the Urban Redevelopment Authority’s (URA) Master Plan 2014 designated Plot Ratio of 2.8. It is currently leased and operated by a reputable hospitality group.
Strategically located within the highly coveted District 9, the Property is a mere five minutes’ walk to the world-renowned Orchard Road shopping belt. The Orchard and Somerset MRT Stations on the North-South Line are also easily reachable on foot. Traveling to the Central Business District (CBD) is under a 10 minutes’ drive through arterial roads such as Orchard Road, Bras Basah Road and Dunearn Road, while connection to other parts of the island is made accessible by the Central Expressway (CTE) and Bukit Timah Road. Multiple prestigious schools such as the Anglo-Chinese School (Junior and Primary), River Valley Primary School, Singapore Chinese Girls’ Primary School and Chatsworth International School are all located within a 1 to 2 km radius from the Property.
Mr. Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield
, says “This is an extremely rare opportunity for developers, family offices and ultra-high-net worth individuals to acquire a freehold asset in Orchard area with a prestigious address. Buyers have the option to either redevelop the plum site into a brand new luxury residential development to take advantage of the improved high-end residential market or retain its existing Service Apartment use to continue catering to the rising demand from tourist and business travelers. In addition, with its close proximity to Mount Elizabeth Hospital, one of the most established medical hubs in Singapore, the Property is well positioned to capture the demand from medical tourism.”
The indicative price is $230 million.
The tender exercise closes on 23 October 2019, at 3.00pm.
For further information, please contact:
Executive Director, Capital Markets
+65 6232 0882 / +65 9662 6430
Associate Director, Communications
Marketing & Communications, Asia Pacific
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com
or follow @CushWake