{"id":90742,"date":"2018-06-07T11:17:15","date_gmt":"2018-06-07T04:17:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-court-elizabeth-towers-launched-for-collective-sale\/"},"modified":"2018-06-07T12:03:58","modified_gmt":"2018-06-07T05:03:58","slug":"gilstead-court-elizabeth-towers-launched-for-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-court-elizabeth-towers-launched-for-collective-sale\/","title":{"rendered":"Gilstead Court, Elizabeth Towers launched for collective sale"},"content":{"rendered":"


\nElizabeth Towers off Orchard Road in District 9 has a reserve price of $610 million or $2,416 psf ppr. (Photo: Knight Frank Singapore)
\nThe en bloc fever continues to heat up with two more freehold sites \u2013 Gilstead Court and Elizabeth Towers \u2013 launched for sale.
\nThe owners of Gilstead Court in District 11 expect offers in excess of $168 million, which translates to a land rate of about $1,590 psf per plot ratio (psf ppr), said marketing agent JLL.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nFactoring in the 10 percent bonus balcony plot ratio, the effective land rate is a lower $1,445 psf ppr. No development charge is payable for the site, making it \u201cinsulated from the half-yearly development charge rate revisions by the Chief Valuer, with the next hike expected on 1 September 2018,\u201d said JLL regional director Tan Hong Boon.
\nBuilt in 1978, Gilstead Court comprises 48 apartments spread across three four-storey blocks. It sits on a 75,479 sq ft site zoned residential under the 2014 Master Plan with a gross plot ratio of 1.4.
\nLocated within the Newton\/Novena area, the site is close to Novena MRT station and the future Health City Novena.
\nA developer may potentially configure the site\u2019s allowable gross floor area (GFA) of 116,237 sq ft up to 154 apartments, subject to the relevant authority\u2019s approval, noted JLL.
\nMeanwhile, Elizabeth Towers off Orchard Road in District 9 carries a reserve price of $610 million or $2,416 psf ppr.
\n\u201cWith the inclusion of a 10 percent bonus balcony GFA, subject to authorities\u2019 approval, and minimal development charge payable for the balcony area, the land rate is lowered to approximately $2,265 psf ppr,\u201d said marketing agent Knight Frank Singapore.
\nCompleted in 1980, the development comprises two residential blocks with 80 apartments and maisonette units. Zoned for residential use with a gross plot ratio of 2.8, the approximately 54,318 sq ft site can be redeveloped into a 36-storey project, subject to authorities\u2019 approval.
\nA short distance from Orchard Road MRT station, Elizabeth Towers is near Paragon Shopping Centre and Mount Elizabeth Hospital. It is also close to various schools including Anglo-Chinese School (Barker Road), St. Joseph\u2019s Institution and Singapore Chinese Girls\u2019 School.
\nThe tender exercises for Gilstead Court and Elizabeth Towers will close on 10 July and 19 July respectively.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Gilstead Court, Elizabeth Towers launched for collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Elizabeth Towers off Orchard Road in District 9 has a reserve price of $610 million...<\/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-90742","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-nBA","jetpack-related-posts":[{"id":89989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-in-district-11-up-for-sale-for-at-least-68m\/","url_meta":{"origin":90742,"position":0},"title":"Gilstead Mansion in District 11 up for sale for at least $68m","date":"May 31, 2018","format":false,"excerpt":"\r The freehold project sits on a 35,751 sq ft site and is close to the Newton, Novena and Little India MRT stations. (Photo: Teakhwa Real Estate) Gilstead Mansion, a 24-unit freehold condominium in District 11, has been launched for collective sale via public tender, with the owners hoping to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","url_meta":{"origin":90742,"position":1},"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":103483,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-projects-seek-to-revive-en-bloc-attempt-at-lower-prices\/","url_meta":{"origin":90742,"position":2},"title":"Two projects seek to revive en bloc attempt at lower prices","date":"January 30, 2019","format":false,"excerpt":"\r Gilstead Court, a residential development at the Novena-Newton area in District 11, has been relaunched for collective sale via tender at a potentially lower reserve price, revealed marketing agent JLL on Tuesday (29 Jan). The project\u2019s Collective Sale Committee (CSC) has proposed slashing the reserve price to $153 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100496,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-relaunched-for-collective-sale-at-lower-price\/","url_meta":{"origin":90742,"position":3},"title":"Gilstead Mansion relaunched for collective sale at lower price","date":"October 25, 2018","format":false,"excerpt":"\r The 24-unit residential development has been relaunched for collective sale at a guide price of $65 million. (Photo: Teakhwa Real Estate) In a bid to beat the clock before the new rules on unit sizes outside the central area kick in as well as the chill of property cooling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122166,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-road-residential-site-up-for-sale-for-91-8mil\/","url_meta":{"origin":90742,"position":4},"title":"Gilstead Road residential site up for sale for $91.8mil","date":"September 23, 2021","format":false,"excerpt":"\r Gilstead Road residential site up for sale for $91.8milSole marketing agent Edmund Tie said the price works out to a land rate of about $2,001 per sq ft per plot ratio (psf ppr), including the estimated development charge. Photo: Edmund Tie A freehold residential site at Gilstead Road in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/32_34-Gilstead-Rd_00019-crop.jpg?fit=819%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":102652,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-relaunched-for-collective-sale\/","url_meta":{"origin":90742,"position":5},"title":"Horizon Towers relaunched for collective sale","date":"January 3, 2019","format":false,"excerpt":"\r The owners of the residential development are expecting gross sales proceeds of $1.1 billion. (Photo: JLL) Horizon 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. The 211-unit condo was first launched for sale on\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\/90742"}],"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=90742"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/90742\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=90742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=90742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=90742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}