A freehold serviced apartment block in Mount Elizabeth Link has been put up for sale via tender with an indicative price of $230 million.
The 22-storey tower comprises 72 apartments ranging from 760 square feet (sq ft) to 7,135 sq ft.
It sits on a regular plot with a land area of about 35,385 sq ft and has a total gross floor area of about 104,375 sq ft.
This translates to a plot ratio of 2.95, which exceeds the plot ratio of 2.8 under the Urban Redevelopment Authority’s Master Plan 2014.
It is leased and operating as Fraser Residence Singapore, a brand under Frasers Hospitality.
The District 9 property is a five-minute walk from the Orchard Road shopping belt with the Orchard and Somerset MRT stations on the North-South Line nearby.
Anglo-Chinese (Junior) and Anglo-Chinese (Primary), River Valley Primary, Singapore Chinese Girls’ Primary and Chatsworth International schools are all within a 1km to 2km radius.
“Buyers have the option to either redevelop the plum site into a new luxury residential development… or retain its existing serviced apartment use,” said Mr Shaun Poh, executive director of capital markets at marketing agent Cushman & Wakefield.
He added that the proximity to Mount Elizabeth Hospital makes the property well-positioned to capture demand from medical tourism.
“Source:[Serviced apartment block in Mt Elizabeth Link for sale] © Singapore Press Holdings Limited. Permission required for reproduction”
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