Horizon Towers at Leonie Hill launched for sale by tender for S$1.1 billion

Horizon Towers at Leonie Hill launched for sale by tender for S$1.1 billion

horizon towers
View of Horizon Towers. (Screengrab: Google Instant Street View)

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

aerial shot of horizon towers
Horizon Towers and the area surrounding it. (Photo: JLL)

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.

Source: CNA/aa

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