Cushman & Wakefield commenced the tender exercise for the sale of the freehold service apartment block at No. 2 Mount Elizabeth Link in Singapore with an indicative price of S$230 million.
The 22-story property, which features 72 apartment units, occupies a roughly 35,385-square-foot land plot with a total gross floor area of approximately 104,375 square feet. It has a 2.95 plot ratio, which is higher compared with the 2.8 designated by the Master Plan 2014 of the city-state's Urban Redevelopment Authority.
The serviced apartment block, which is leased and operated by Frasers Hospitality Pte. Ltd.'s Frasers Residence Singapore brand, will remain on offer until Oct. 23.
As of Sept. 9, US$1 was equivalent to S$1.38.
