High Point back on market at $580 mil in sixth collective sale attempt

High Point — a freehold Orchard condo in prime District 9 — is being relaunched for collective sale with a guide price of $580 million. The current tender marks the development’s sixth en bloc attempt since its previous bid in April.

The 59-unit development is located at 30 Mount Elizabeth, and occupies an elevated plot measuring approximately 47,607 sq ft. The guide price translates to a land rate of $2,645 psf per plot ratio (ppr), including the 7% bonus floor area, according to ETC, the marketing agent for the property.

Zoned for residential use, the site has a building height control of up to 36 storeys. No land betterment charge will be imposed when redeveloping the site to its baseline plot ratio of 4.45.

Read also: Gilstead Court makes fourth collective sale attempt at $198 mil

High Point is located within a five-minute drive of the Orchard Road shopping belt and enjoys connectivity via the Central Expressway and Pan Island Expressway.

It is also within 1km of Anglo-Chinese School (Junior), while schools within 2km include St Joseph’s Institution Junior, Singapore Chinese Girls’ School and St Margaret’s Primary School.

“The combination of a prime elevated Orchard location and a sizeable freehold residential plot of 47,607 sq ft offering scale to curate an ultra-luxury residential development is increasingly difficult to replicate today,” said Swee Shou Fern, head of investment advisory at ETC.

“This is particularly relevant at a time when the pipeline of new freehold luxury residential supply in District 9 remains limited.”

According to ETC, the last freehold residential site for super-luxury condo development sold was 21 Anderson. The development was purchased by Kheng Leong Co in September 2021 for $213 million ($2,490 psf ppr).

Check out the latest listings for High Point properties