Chateau Eliza up for sale

Chateau Eliza, a prime freehold residential development along Mount Elizabeth off Orchard Road, has been put up for collective sale.

Its marketing agent Knight Frank said the17,997 square-foot property has a price guide of S$111 million to S$115 million.

It added that translates to a land price of S$2,099 per square foot per plot ratio (psf ppr) to S$2,174 psf ppr based on the proposed gross floor area of 52,887 sq ft.

There is no development charge to be paid. And with an additional 10 per cent balcony area, the land price could be lowered to S$2,009 psf ppr to S$2,077 psf ppr, based on the potential GFA of about 58,176 sq ft, the marketing agent said.

Knight Frank estimates the breakeven cost at around S$2,700 per square feet (psf) to S$2,800 psf.

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 828.8 sq ft (77 sq m) to 3,336.8 sq ft (310 sq m).

The tender will close at 3pm on December 15.

Source : Channel NewsAsia – 14 Nov 2011

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