High Point En Bloc Relaunch After Shun Tak Backs Off Deal

High Point en bloc relaunch on 21st March 2022 is at S$550 million after Shun Tak walks away from the collective sale deal in Dec 2021. Shun Tak had to forfeit S$1 million in tender deposit for the abortion of the deal.

High Point En Bloc Relaunch:

credit:google (strictly for reference only)

High Point is situated at 30 Mount Elizabeth. This freehold condo has been put up for collective sale again, this being its fourth attempt. On 9th Dec 2021, Shun Tak won the bid for the tender at S$556.688 m or S$2,626 per square foot per plot ratio (psf ppr). On 23rd Dec 2022, they did not make the 5% downpayment and aborted the deal.

Estimated Land Price PSF:

The relaunch price tag of the collective sale is also at S$550m. After taking into account the 7% bonus balcony gross floor area (GFA) and the development charges of S$18.8 million, the land price works out to be S$2,508 psf ppr.

Tender Closing Date Not Set:

There has yet to be a set closing date for the tender. At least one developer must confirm interest for this to take place. In this respect, this is the same as Urban Redevelopment Authority (URA) Reserve List method.

High Point Facts:

High Point features 57 apartments and 2 penthouses on a 47,606-square-foot lot, with a gross floor area of approximately 211,976 square feet. A residential development completed in 1973, it has a plot ratio of 2.8 and a height limit of 36 storeys.

Suppose each apartment is 200 sq m in size, then High Point could be turned into a project with 98 units of ultra-lux condos.

Schools within 1km to 2km of High Point Condominium include Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), Farrer Park Primary School, River Valley Primary School, Singapore Chinese Girls’ Primary School, St. Joseph’s Institution Junior and St. Margaret’s Primary School.

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Source:https://www.straitstimes.com/business/property/high-point-condo-relaunched-for-en-bloc-sale-at-550m-after-shun-tak-aborted-deal