{"id":93260,"date":"2018-07-06T11:42:55","date_gmt":"2018-07-06T04:42:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/"},"modified":"2018-07-06T12:02:52","modified_gmt":"2018-07-06T05:02:52","slug":"horizon-towers-up-for-en-bloc-sale-for-1-1b","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","title":{"rendered":"Horizon Towers up for en bloc sale for $1.1b"},"content":{"rendered":"


\nThe reserve price works out to a land rate of $1,964 psf per plot ratio. (Photo: JLL)
\nHorizon 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.
\nIncluding the lease top-up premium of about $220 million, the price works out to a unit land rate of about $1,964 psf per plot ratio (psf ppr), revealed marketing agent JLL.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nSince there is no development charge or differential premium for site intensification \u201ceven for the 10 percent bonus gross floor area due to a high development baseline, the reflected unit land rate is $1,786 psf ppr\u201d, it said.
\nJLL noted that Horizon Tower\u2019s unit land rate compares favourably with the recent Government Land Sale site at Cuscaden Road, which was sold for $2,377 psf ppr, Park House en bloc sale site at $2,910 psf ppr, the Nassim Road site at $2,744 psf ppr; Pacific Mansions site at $1,987 psf ppr; as well as the Cairnhill Mansions and adjoining sites at $2,311 psf ppr and $2,132 psf ppr respectively.
\nBuilt in the late 1970s, the 211-unit development sits on a 1.9ha site, which is zoned residential under the 2014 Master Plan with a height limit of up to 36 storeys. The 99-year leasehold property has an \u201cas-built\u201d gross plot ratio of about 3.28 and may be redeveloped into a high-rise residential development.
\nIt is located near the upcoming Great World MRT station, the Orchard MRT Interchange (Thomson-East Coast Line) as well as Ngee Ann City and Kim Seng Park.
\nJLL capital markets regional director Tan Hong Boon expects the site to attract \u201cvery keen interest from large developers and consortiums\u2026given its unparalleled attributes for a potential residential masterpiece at reasonable pricing\u201d.
\n\u201cGiven the premier address, a sprawling ground in the Orchard Road neighbourhood and its high-rise attributes, it is compelling for a discerning developer and its architect to deliver a luxurious masterpiece with comprehensive amenities and facilities, complete with bespoke services for its future well-heeled residents,\u201d he said.
\nThe tender for Horizon Towers closes on 7 August.
\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…Horizon Towers up for en bloc sale for .1b<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The reserve price works out to a land rate of $1,964 psf per plot ratio....<\/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-93260","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-ogc","jetpack-related-posts":[{"id":102652,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-relaunched-for-collective-sale\/","url_meta":{"origin":93260,"position":0},"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":[]},{"id":102684,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cavenagh-gardens-up-for-en-bloc-sale-at-480m\/","url_meta":{"origin":93260,"position":1},"title":"Cavenagh Gardens up for en bloc sale at $480m","date":"January 4, 2019","format":false,"excerpt":"\r The reserve price for the freehold development in District 9 works out to a land rate of $1,695 psf ppr. (Photo: JLL) Cavenagh Gardens, a freehold residential development along Cavenagh Road in District 9, has been launched for en bloc sale with a reserve price of $480 million, revealed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":93260,"position":2},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\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":93260,"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":84896,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/casa-meyfort-and-landmark-tower-up-for-collective-sale\/","url_meta":{"origin":93260,"position":4},"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":99490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/","url_meta":{"origin":93260,"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\/93260"}],"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=93260"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/93260\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=93260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=93260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=93260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}