MCL Land awarded Eunosville site at S$765.78m or S$909 psf ppr

HONGKONG Land unit, MCL Land, has clinched the Eunosville site through a collective sale, at a price of S$765.78 million.

This works out a unit land price of S$909 per square foot per plot ratio (psf ppr) inclusive of an estimated S$194 million payable to the state to enhance the intensity of the site to a gross plot ratio of 2.8 and to top up the site's lease to 99 years.

The site has a balance lease term of about 70 years.

Eunosville currently has 330 units - comprising 255 maisonettes and 75 apartments.

Each owner stands to receive a gross sale price of about S$2.25 million to S$2.41 million upon the successful completion of the sale, which is subject to several sale conditions.

More than 80 per cent of the owners have consented to the collective sale, said OrangeTee, the marketing agent for the collective sale of Eunosville.

Located opposite Eunos MRT Station, the site is almost rectangular in shape with wide frontage onto Changi Road and Sims Avenue. It has a land area of about 376,713 sq ft and is zoned for residential use. A redevelopment could potentially yield about 1,399 units with an average size of 70 sq metres, OrangeTee said.