HighPoint Freehold Collective Sale Kicks Off in District 9
PRIME’s long‑standing HighPoint property — a 1974 freehold block on Mount Elizabeth Road — is now on the market for collective sale at a whopping S$550 million. The 47,606‑square‑foot cul‑de‑sac sits in District 9, a coveted slice of Singapore’s real estate puzzle.
Why This Spot Matters
- Plot Size: 47,606 ft²
- Gross Floor Area (GFA): 211,976 ft², roughly 4.45 plot ratio
- Height Cap: Up to 36 stories, as per the 2014 Master Plan
- Leeway: No development charge until the GFA hits just over 213,383 ft²
With a guide price, the land rate sits at about S$2,595 psf ppr. Factor in the bonus GFA from balconies (7 %), and that edits down to roughly S$2,509 psf ppr. If each apartment averages 100 m², we could fit up to 196 units, according to CBRE’s market assessment.
Current Status
HighPoint boasts 57 apartments plus two swanky penthouses. Over 80 % of the owners have already signed the collective sale agreement, leaving a solid majority in place.
Location Highlights
- Walking distance to ION Orchard and Paragon
- Near Mount Elizabeth Hospital
- Schools on the roster: Anglo‑Chinese Junior School and the Orchard campus of Chatsworth International School
The public tender opens now and closes on Feb 26 at 3 pm. What’s next? That’s for the bidders to decide.
Industry Insight
CBRE’s Galven Tan, executive director of capital markets, says: “A 36‑storey tower would crown the area with panoramic views of Goodwood Hill’s greenery and the buzzing CBD skyline. It’s a prime spot to birth an ultra‑premium landmark and keep the market’s upper‑end supply locked tight.”
He added that Hong Kong developers eyed HighPoint during the pre‑marketing phase, noting that the site’s tick‑box qualities align well with their brand aspirations.
Other District 9 Collective Sale Threats
- Leonie Gardens (99‑year leasehold) — reserve buyer S$800 million.
- Cavenagh Gardens (freehold) — reserve price S$480 million.
- Horizon Towers on Leonie Hill Road — second round of collective sale at reserve S$1.1 billion (unchanged from July). The lease top‑up brings the land rate to about S$1,977 psf ppr, or S$1,797 psf ppr with bonus GFA.
Horizon Towers is a 1.9‑hectare block, 150 m from the upcoming Great World MRT, with dual road access. Despite its larger scale and no development charge, the 99‑year leasehold still makes it a tough competitor to HighPoint’s freehold advantage.
Comparing the Two
This time “JLL” is the sole marketing agent for Horizon Towers. Tan Hong Boon, JLL’s capital markets director in Singapore, echoes that while Horizon Towers offers bigger scale, HighPoint’s freehold status gives it a leg up, and the two may attract overlapping developers.
The Bigger Picture
Other District 9 sites — like The Regalia in River Valley and Elizabeth Tower on Mount Elizabeth Road — were also on the market last year but sadly found no takers.
HighPoint’s 1974 origins, freehold air, and 36‑storey potential make it a headline‑grabber for luxury developers. Whether buyers can sniff out the value remains to be seen; the market’s mystery promises some fun drama ahead.
This article first appeared in The Business Times. Permission required for reproduction.
