Chateau Eliza, a prime freehold residential development along Mount Elizabeth off Orchard Road, has been put up for collective sale.
It added that translates to a land price of $2,099 per square foot per plot ratio (psf ppr) to $2,174psf ppr based on the proposed gross floor area of 52,887sqft.
There is no development charge to be paid. And with an additional 10 per cent balcony area, the land price could be lowered to $2,009psf ppr to $2,077psf ppr, based on the potential GFA of about 58,176sqft, the marketing agent said.
Knight Frank estimates the breakeven cost at around $2,700 per square feet (psf) to $2,800psf.
Chateau Eliza is zoned for residential use with a plot ratio of 2.8.
It can be developed into serviced apartments subject to regulatory approval.
The site currently has 37 residential apartments with unit sizes ranging from 828.8sqft to 3,336.8sqft.
The tender will close at 3pm on December 15.
Source: Channel News Asia.