Two residential sites launched for collective sale

HAVING had its maiden collective sales attempt stymied by the introduction of the total debt servicing ratio (TDSR) framework, Eunosville is back on the market for a second run. Accompanying it is Jervois Gardens, which was also launched for collective sale by tender yesterday.

The 330-unit Eunosville, located opposite Eunos MRT Station, is being put on the market for a minimum price of $688 million, similar to its initial collective sale attempt in June.

Including estimated differential premiums of $163 million payable to top up the site's lease from a balance term of around 74 years to 99 years, and intensification of use (subject to approval from the relevant authorities), this translates to about $806 per square foot per plot ratio (psf ppr) on the potential gross floor area (GFA), said Jones Lang LaSalle, the project's sole marketing agent. It added that the higher estimated differential premium this time is due to the increase in development charge rates from Sept 1.