The Eunosville apartment has been re-launched for collective sale with its owners expecting a minimum asking price of S$688 million, marketing agent Jones Lang LaSalle said.
The 330-unit property first went en bloc in June 2013, but interested developers requested for more time to assess the market in view of the introduction of the Total Debt Servicing Ratio (TDSR).
This time, the owners are hoping for keen interest from developers considering that recent tenders of government land sites have seen a healthy number of bidders.
Strategically located just across from Eunos MRT station, Eunosville has a land area of around 376,712 sq ft and a gross plot ratio of 2.8. Zoned residential, the site could generate 1,000 units with an average size of 1,100 sq ft.
The asking price works out to S$806 psf/pr on the potential gross floor area (GFA), including estimated differential premiums of S$163 million payable to top-up the lease to fresh 99 years and for intensification of use, subject to approval by the relevant authorities.
Meanwhile, another residential site at 30F and 30G Jervois Road is up for sale by tender with the owners expecting offers of around S$72 million, revealed marketing agent Colliers International.
With an area of 34,038 sq ft, Jervois Gardens (pictured) comprises two four-storey walk-up blocks housing 14 maisonettes and three apartments.
The freehold site has a plot ratio of 1.4 under the 2008 Master Plan and can be redeveloped into a five-storey project with around 65 apartments of 800 sq ft each, subject to approval by the relevant authorities.
The tenders for Eunosville and Jervois Gardens close on 14 January and 22 January respectively.
Image source: Colliers International
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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