{"id":102652,"date":"2019-01-03T10:04:51","date_gmt":"2019-01-03T03:04:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-relaunched-for-collective-sale\/"},"modified":"2019-01-03T11:02:48","modified_gmt":"2019-01-03T04:02:48","slug":"horizon-towers-relaunched-for-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-relaunched-for-collective-sale\/","title":{"rendered":"Horizon Towers relaunched for collective sale"},"content":{"rendered":"


\nThe owners of the residential development are expecting gross sales proceeds of $1.1 billion. (Photo: JLL)
\nHorizon Towers, a 99-year leasehold residential development at Leonie Hill, has been relaunched for collective sale at the same reserve price of $1.1 billion.
\nThe 211-unit condo was first launched for sale on 5 July \u2013 on the same day the government announced its property cooling measures which took effect the next day. The tender for Horizon Towers ended with no takers even though the closing date was extended from 7 August to 12 September.
\nMore: Over 30 En Bloc Sites Fail To Secure Buyers
\nMarketing agent JLL noted that the reserve price works out to a land rate of about $1,977 psf per plot ratio (psf ppr), after taking into account the lease top-up premium of around $228 million.
\n\u201cAs the site has a high development baseline, currently there is no development charge or differential premium for the intensification of the site even for the 10 percent bonus gross floor area. The reflected unit land rate is $1,797 psf ppr,\u201d the consultancy noted.
\nBuilt in the late 1970\u2019s, Horizon Towers sits on a 1.9ha site zoned residential under the 2014 Master Plan. It comes with a height limit of up to 36 storeys and an \u201cas-built\u201d gross plot ratio (GPR) of about 3.28.
\n\u201cAs the site is located within the Central Area, it is not subject to an average unit size of 85 sq m, which allows the developer to build smaller units and keep the quantum palatable for potential buyers,\u201d said JLL.
\nAside from being well-connected to the upcoming Great World MRT station and the Orchard MRT interchange (Thomson-East Coast Line), the site is also close to Ngee Ann City and Kim Seng Park.
\nThe tender for Horizon Towers closes on 28 January.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Horizon Towers relaunched for collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owners of the residential development are expecting gross sales proceeds of $1.1 billion. (Photo:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-102652","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qHG","jetpack-related-posts":[{"id":93260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","url_meta":{"origin":102652,"position":0},"title":"Horizon Towers up for en bloc sale for $1.1b","date":"July 6, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,964 psf per plot ratio. (Photo: JLL) Horizon Towers, a 211-unit residential development at Leonie Hill in District 9, has been launched for collective sale with a reserve price of $1.1 billion. Including the lease top-up premium of about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94621,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-extends-tender-closing-date-following-new-curbs\/","url_meta":{"origin":102652,"position":1},"title":"Horizon Towers extends tender closing date following new curbs","date":"July 25, 2018","format":false,"excerpt":"\r Horizon Towers is located near Orchard Road and is also close to the upcoming Great World MRT station. (Photo: JLL) Horizon Towers has extended its en bloc sale tender closing date from 7 August to 12 September, revealed marketing agent JLL. This comes after the government introduced a fresh\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84896,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/casa-meyfort-and-landmark-tower-up-for-collective-sale\/","url_meta":{"origin":102652,"position":2},"title":"Casa Meyfort and Landmark Tower up for collective sale","date":"April 10, 2018","format":false,"excerpt":"\r The 139-unit Landmark Tower near Pearl\u2019s Hill City Park has a reserve price of $285 million, or $1,400 psf ppr. (Photo: JLL) Encouraged by the 3.8 percent hike in private home prices in the Outside Central Region as per the Urban Redevelopment Authority\u2019s quarterly flash estimates, the owners of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-court-elizabeth-towers-launched-for-collective-sale\/","url_meta":{"origin":102652,"position":3},"title":"Gilstead Court, Elizabeth Towers launched for collective sale","date":"June 7, 2018","format":false,"excerpt":"\r Elizabeth Towers off Orchard Road in District 9 has a reserve price of $610 million or $2,416 psf ppr. (Photo: Knight Frank Singapore) The en bloc fever continues to heat up with two more freehold sites \u2013 Gilstead Court and Elizabeth Towers \u2013 launched for sale. The owners of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97778,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tender-for-horizon-towers-closes-without-a-single-bid\/","url_meta":{"origin":102652,"position":4},"title":"Tender for Horizon Towers closes without a single bid","date":"September 13, 2018","format":false,"excerpt":"\r Horizon Towers is located near Orchard Road and is also close to the upcoming Great World MRT station. (Photo: JLL) Despite its prime location, Horizon Towers\u2019 $1.1 billion tender ended on Wednesday (12 Sept) with no takers, reported the Business Times. This gives the owners of the 211-unit development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/","url_meta":{"origin":102652,"position":5},"title":"La Ville condo relaunched with lower asking price of $140.6m","date":"October 10, 2018","format":false,"excerpt":"\r La Ville is a 40-unit freehold condominium at Tanjong Rhu Road. (JLL) $1,424 psf ppr, or $1,361 psf ppr after taking into account the 10 percent bonus balcony space. A development charge of about $7.2 million is payable as well. Marketing agent JLL revealed on Tuesday (9 Oct) that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102652"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=102652"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102652\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=102652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=102652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=102652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}