Prime Lands Residencies PLC Secures the Historic Otters Club Car Park Property to Develop “The Elizabeth” – A Defining New Address in Colombo 7

Prime Lands Residencies PLC has secured the historic Otters Club Car Park property in Colombo 7 through a recently concluded agreement with the Urban Development Authority (UDA), marking one of the most significant residential land acquisitions in the district in recent years.

The property will be developed into ‘The Elizabeth’, a landmark residential tower envisioned to redefine contemporary living in Colombo 7.

The announcement comes as welcome news to clients and investors who have been awaiting Prime’s next signature development within Colombo 7 following the strong market performance of Grand Ward Place. Demand for a comparable address within the district has remained consistently strong, with limited new supply entering the market.

A Rare Strategic Landholding

Set on approximately one acre in one of Colombo’s most established residential enclaves, the Otters Club property represents one of the last remaining Prime development-ready land parcels within a tightly held district.

Under the agreement with the UDA, the proposed development will comprise a ground plus 23-storey residential tower. The historic Otters Club will be thoughtfully integrated within the 4th and 5th floors of the building while remaining fully independent and operational, preserving its members-only heritage while reinforcing the stature and cultural significance of the address.

The convergence of colonial architecture and contemporary residential design positions The Elizabeth as a future architectural landmark within Colombo 7.

Continuing a Legacy in Colombo 7

Following the delivery success and strong market reception of Grand Ward Place, The Elizabeth represents the Company’s next landmark development within Colombo 7.

Where Grand Ward Place established confidence in execution and long-term value creation, The Elizabeth advances that trajectory through greater exclusivity, refined design, and a highly strategic location within the district.

A Private Residential Estate in the Sky

The Elizabeth was conceived as a private residential estate in the sky, where service, privacy, and considered design redefine everyday living. Residents will enter through a grand concierge-led lobby designed for distinguished arrivals and refined daily interactions, complemented by a dedicated business lounge and meeting suite that extend the functionality of home. At rooftop level, an infinity-edge pool and landscaped sky garden create a tranquil retreat above the city, accompanied by an intimate champagne and social lounge overlooking the Colombo skyline. A fully equipped fitness pavilion supports modern wellness, while chauffeur facilities and discreet housekeeping services ensure operational ease without compromising privacy. Advanced access control and layered security complete an environment shaped by exclusivity and understated elegance.

Now Open for Reservations

With anticipation building around this landmark development, The Elizabeth is officially open for reservations. Given the limited scale of the project and the rarity of new residential offerings within Colombo 7, early reservations are expected to be strongly received.

Prospective homeowners and investors are invited to register their interest and secure priority access to this highly anticipated address.

Source: Adaderana