POSTED: 09 Dec 2013 22:24 | CNA

SINGAPORE

Former HUDC estate Eunosville has been re-launched for en bloc sale on Monday with the same asking price of at least S$688 million.

Its sole marketing agent, Jones Lang LaSalle, said the 330-unit private residential development was first launched in June 2013 for collective sale by tender.

But interested developers wanted more time to assess the market, after the introduction of the Total Debt Servicing Ratio (TDSR) framework at the end of the same month.

Jones Lang LaSalle said the owners of Eunosville are now hopeful of keen interest from developers this time round, given the healthy number of bidders in recent government land sale site tenders.

With a land area of about 376,712 square feet and with a gross plot ratio (GPR) of 2.8, the site could potentially yield 1,000 units with an average size of 1,100 square feet.

The asking price translates to approximately S$806 per square foot per plot ratio on the potential gross floor area, 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 from the relevant authorities.

The tender closes at 2.30pm on Tuesday, January 14, 2014.

– CNA/gn

http://www.channelnewsasia.com/news/business/singapore/eunosville-re-launched/916912.html