Horizon Towers relaunch collective sale tender
SINGAPORE – Horizon Towers, a collective sale site in the prestigious Leonie Hill, is relaunching for sale by tender by sole marketing agent, JLL.
Built in the late 1970’s, the 99-year leasehold Horizon Towers comprises 211 units in two towers located on an elevated site with double road accesses. Nestled in the very prime District 9, the site exudes exclusivity amidst the tree-lined serenity of Leonie Hill and Leonie Hill Road.
The 1.9ha site is zoned “Residential” in the 2014 Master Plan with an allowable height of up to 36 storeys. It has an “as-built” gross plot ratio (“GPR”) of around 3.28228. As the site is located within the Central Area, it is not subject to an average unit size of 85 sqm, which allow the developer to build smaller units and keep the quantum palatable for potential buyers.
It is well-connected to the upcoming Great World MRT station and to the Orchard MRT Interchange (Thomson-East Coast Line) which is a mere 150m and 600m walk respectively. Residents can also walk to the nearby Ngee Ann City under ten minutes.
Splendidly located in the luxury exclusive precinct of Leonie Hill, Horizon Towers entices both the locals and expatriates with its excellent connectivity to the myriad of shopping, entertainment, education and cultural offerings, top-notch medical services and a host of other amenities. Within one km from the development is also the River Valley Primary School, for families with children budding to enroll into a prestigious school.
Kim Seng Park and the riverfront promenade are a short 550m walk to the South, suitable for residents who wish to take a respite or carry out their daily evening exercises. Not least to mention is the bustling Robertson Quay along the river with the great varieties of Food & Beverage options and entertainment offerings as well.
At a reserve price of $1.1 billion, Horizon Towers’ unit land rate reflects about $1,977 per sq ft per plot ratio (psf/pr) after factoring in the lease top-up premium estimated to be in the region of $228 million. As 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 per cent bonus gross floor area. The reflected unit land rate is $1,797 psf/pr.
The tender for Horizon Towers closes on Monday, 28 January 2019, at 3 p.m.
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Note to editors:
1. For a high-resolution image of the property, please click here.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com