{"id":56604,"date":"2017-06-01T16:56:30","date_gmt":"2017-06-01T09:56:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/eunosville-sold-to-mcl-land-for-765-million\/"},"modified":"2017-06-01T17:00:04","modified_gmt":"2017-06-01T10:00:04","slug":"eunosville-sold-to-mcl-land-for-765-million","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eunosville-sold-to-mcl-land-for-765-million\/","title":{"rendered":"Eunosville sold to MCL Land for $765 million"},"content":{"rendered":"


\nAerial view of the Eunosville site. (Photo: OrangeTee)
\nEunosville, a 330-unit privatised HUDC development near Eunos MRT station, has been sold en-bloc for $765.78 million ($909 psf per plot ratio) to Chinese developer MCL Land, said marketing agent OrangeTee.
\nThe sale price is significantly higher than what the owners previously expected, which was in the range of $643 million to $653 million. Built in the late 1980s, the approximately 376,713 sq ft site has a remaining lease term of about 71 years.
\nThis is the second largest collective sale of this type of property, following the sale of Farrer Court for $1.3388 billion in 2007.
\nEunosville consists of 10 residential blocks with a total of 255 maisonettes and 75 apartments. More than 80 percent of the owners consented to the deal.
\nAccording to OrangeTee, each owner stands to gain about $2.25 million to $2.41 million upon the successful completion of the sale, which is subject to several conditions.
\nThe site is almost rectangular with wide frontage onto Changi Road and Sims Avenue. It is zoned residential with a gross plot ratio of 2.8 under the 2014 Master Plan.
\nThe future project could yield about 1,399 units with an average size of 753 sq ft.
\n\u201cThere was strong interest for Eunosville and the bids received were competitive, given its strong locational attributes,\u201d revealed Marcus Oh, Executive Director of Business Solutions at OrangeTee.
\n\u201cThe primary home sales market has also seen marked improvements and developers are starting to make strategic acquisitions of land to position themselves for a recovery of the market.\u201d
\nThe Business Times reported that other bidders for the Eunosville site included Qingjian Realty, Keppel Land and City Developments Limited.
\nThe collective sales market has been heating up in recent weeks following the sale of Goh & Goh Building in Upper Bukit Timah Road for $101.5 million, Rio Casa in Hougang for $575 million, and One Tree Hill Gardens off Orchard Boulevard for $65 million.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Eunosville sold to MCL Land for 5 million<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of the Eunosville site. (Photo: OrangeTee) Eunosville, a 330-unit privatised HUDC development near...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-56604","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-eIY","jetpack-related-posts":[{"id":51777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eunosville-put-up-for-en-bloc-sale\/","url_meta":{"origin":56604,"position":0},"title":"Eunosville put up for en bloc sale","date":"April 13, 2017","format":false,"excerpt":"\r The owners are expecting offers of up to $653 million, which would make the estate the biggest en bloc sale in recent years.\u00a0 Former Housing and Urban Development Company (HUDC) estate Eunosville has been put up for collective sale, with the owners expecting offers of between $643 million and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100807,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-esta-to-open-for-preview-on-saturday\/","url_meta":{"origin":56604,"position":1},"title":"Parc Esta to open for preview on Saturday","date":"November 2, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the pool view at Parc Esta. Source: MCL Land Developer MCL Land is set to open the showflat for its highly-anticipated Parc Esta development at Sims Avenue for preview on Saturday (3 Nov). Aside from being touted as the closest private condominium to Eunos MRT station,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101067,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-5000-thronged-parc-estas-weekend-preview\/","url_meta":{"origin":56604,"position":2},"title":"Over 5,000 thronged Parc Esta\u2019s weekend preview","date":"November 9, 2018","format":false,"excerpt":"\r Crowds turned up at the Parc Esta sales gallery last weekend. (Photo: MCL Land) Parc Esta, MCL Land\u2019s 1,399-unit condominium project at Sims Avenue, received robust interest during its preview last weekend (3-4 Nov) as over 5,000 people flocked to its sales gallery located adjacent to its site, media\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56934,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-estates-gunning-for-en-bloc-sales\/","url_meta":{"origin":56604,"position":3},"title":"Two estates gunning for en bloc sales","date":"June 5, 2017","format":false,"excerpt":"\r The Interlace (pictured) began as Gillman Heights \u2013 one of the first HUDC to be privatised in 1996 and then later sold via an en bloc sale \u2013 an aim both Tampines Court and Florence Regency are now hoping to achieve. Following the recent collective sales of Rio Casa\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51661,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/need-for-realistic-expectations-amid-expected-hike-in-en-bloc-sales\/","url_meta":{"origin":56604,"position":4},"title":"Need for realistic expectations amid expected hike in en bloc sales","date":"April 12, 2017","format":false,"excerpt":"\r The limited supply of land sites has resulted in more developers going after projects put up for collective sale. While the residential collective sales market is expected to pick up this year, experts have called on owners of residential developments to be realistic with their expectations, reported Channel NewsAsia.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57774,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-albracca-at-meyer-road-up-for-en-bloc-sale\/","url_meta":{"origin":56604,"position":5},"title":"The Albracca at Meyer Road up for en-bloc sale","date":"June 13, 2017","format":false,"excerpt":"\r The owners are expecting offers in the range of $62 million to $65 million. (Photo: JLL) An en-bloc tender exercise has been launched for The Albracca, a 10-storey apartment along Meyer Road which was completed in 1990, revealed sole marketing agent JLL. This is the first time that the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56604"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=56604"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56604\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=56604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=56604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=56604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}