Public tender for High Point to close on 28 July

The property was relaunched for sale in March with a guide price of $550m.

The public tender for High Point will be closed on 28 July, its marketing agent, Savills, announced.

The 22-storey tower was relaunched for sale in March with a guide price of $550m which translated to a $2,508 per plot ratio after factoring in the 7% bonus gross floor area (GFA) for balconies.

“The development charge payable for the 7% bonus GFA is about $18.8m,” said Savills.

High Point is located at 30 Mount Elizabeth and comprises  57 apartments and two penthouses.
 
Under the 2019 Master Plan, the 47,606 sq ft of the property’s site is zoned ‘’Residential’’ with an allowable gross plot ratio of 2.8 and has a height control of up to 36-storeys. 
 
High Point has an existing gross floor area (GFA) of approximately 211,976 sq ft, (PR4.45). 
 
The site can be redeveloped into a 36-storey ultra-luxurious tower of say 98 units assuming an average size of 200 sq m per unit, said Savills.
 
Buyers planning to redevelop up to 196 units of the property will also not be required by the LTA to conduct a pre-application feasibility study.