Located in the exclusive District 9 between Leonie Hill and Leonie Hill Road, the 99-year leasehold Horizon Towers have been launched for collective sale. 

Built in the late 1970s, the Towers comprises 211 units across two towers on an elevated site with double road access.

The sprawling 1.9 ha site is zoned “Residential” in the 2014 Master Plan with an allowable height of up to 36 storeys. It has an “as-built” gross plot ratio (GPR) of around 3.28 as confirmed with the Urban Redevelopment Authority (URA) and may be redeveloped into a luxury high-rise residential development with marvellous city views all around.

JLL reveals that the site is one of the largest high-rise residential redevelopment offerings in the Orchard Road area in at least two decades. 

“Given the premier address, a sprawling ground in the Orchard Road neighbourhood and its high-rise attributes, it is compelling for a discerning developer and their architect to deliver a luxurious masterpiece with comprehensive amenities and facilities, complete with bespoke services for its future well-heeled residents,” says Mr Tan Hong Boon, Regional Director of Capital Markets at JLL.

“The property has all the ingredients needed for a branded residences with unparalleled services, comfort and convenience,” he added.

The site has an excellent connectivity, being a mere 150m to the upcoming Great World MRT station and 600m to the Orchard MRT Interchange (Thomson-East Coast Line), which is integrated into the existing Orchard Station at ION Orchard. A walk to the nearby Ngee Ann City is under ten minutes.

Due to it's well connected and exclusive location, Horizon Towers entices both the locals and expatriates and the area offers a myriad of shopping, entertainment, education and cultural destinations, top-notch medical services and a host of other amenities. Within one km from the development is also the River Valley Primary School, for families with children budding to enrol into a prestigious school.

Kim Seng Park and the riverfront promenade are a short 550m walk to the South, suitable for residents who wish to take a respite or carry out their daily evening exercises. Not least to mention is the bustling Robertson Quay along the river with the great varieties of food & beverage options and entertainment offerings as well.

At a reserve price of $1.1 billion, Horizon Towers’ unit land rate reflects about $1,964 per sq ft per plot ratio (psf/pr) after factoring in the lease top-up premium estimated to be in the region of $220 million. As there is no development charge or differential premium for the intensification of the site even for the 10 per cent bonus gross floor area due to a high development baseline, the reflected unit land rate is $1,786 psf/pr.

“We expect very keen interests from large developers and consortiums for this very rare sprawling choice site, given its unparalleled attributes for a potential residential masterpiece at reasonable pricing,” Tan added.

The unit land rate of Horizon Towers compares favourably with the recent 99-year Government Land Sale site at Cuscaden Road sold for $2,377 psf/pr, the freehold collective sale sites of Park House in the same district, which achieved a record-breaking unit land price of $2,910 psf/pr, the Nassim Road site at $2,744 psf/pr, and the earlier Pacific Mansions site at River Valley Close at $1,987 psf/pr, as well as the Cairnhill Mansion and the adjoining sites at $2,311 psf/pr and $2,132 pf/pr respectively.

Horizon Towers is being offered by JLL via a tender process. For tender dates and specifics email Tan Hong Boon Regional Director of Capital Markets, JLL via the contact details listed below. 

Source: JLL Singapore

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