SINGAPORE: Horizon Towers at Leonie Hill has been launched for sale, with the owners setting a reserve price of S$1.1 billion, said marketing agent JLL on Wednesday (Jul 4) in a news release.
This translates to about S$1,964 per sq ft per plot ratio after factoring in the lease top-up premium estimated to be in the region of S$220 million.
JLL added that as there is no development charge or differential premium for the intensification of the site, the reflected unit land rate is S$1,786 per sq ft per plot ratio
The 99-year leasehold Horizon Towers comprises 211 units in two towers and is close to River Valley Primary School, and areas like Robertson Quay.
The development occupies a 1.9 ha site and is zoned “Residential” in the 2014 Master Plan with an allowable height of up to 36 storeys.
The tender for Horizon Towers closes on Aug 7 at 3pm.