Euro Asia Park Collective Sale Relaunched in 2023 Instagram

Euro Asia Park Collective Sale Will Be Relaunched in 2023 at $500 Million

OrangeTee Advisory announced on February 14 that Euro Asia Park will once again be put up for collective sale via a public tender with a reserve price of $500 million.

It was the same price that was previously listed for collective sale in September 2022 for the residential development.

The low-rise, freehold development with 163 units was finished in 1996 and takes up about 129,793 square feet of land.

It is designated for residential use and has a gross plot ratio of 2.8.

The redevelopment site has been given approval by the Land Transport Authority (LTA) to be rebuilt into 397 new residential units, each of which will have a maximum size of 915 square feet.

According to OrangeTee, the new development may have a maximum permitted gross floor area (GFA) of 388,860 sq ft based on the gross plot ratio after accounting for an additional bonus floor area of 7% for private outdoor areas.

After accounting for an expected land betterment fee of $105.65 million, the maximum permitted GFA equates to a land rate of $1,558 psf ppr.

We have already had four successful collective sales in the early part of 2023, despite the risk of a worldwide recession. These purchases indicate a consistent, long-term demand for high-quality residential properties.

“Euro Asia Park is well-located in the increasingly popular city edge District 13 and provides developers with a chance to enhance the site’s utilisation with a mid-sized residential project,” says Marcus Oh, managing director of OrangeTee Advisory.

Because there aren’t many land parcels available in the Rest of Central region, Oh explains, “this freehold site should appeal to developers seeking to replenish their rapidly depleted land banks.”

Euro Asia Park Nearby Amenities

Euro Asia Park, located at 25 Woodleigh Close, is near Potong Pasir and Woodleigh MRT Stations (North East Line) and is only 10 minutes’ walk away.

Overlooking the Woodleigh MRT Station is the 300,000 square foot Woodleigh Mall, which is now under development.

The new 10-hectare Bidadari park, which is expected to open in 2023, is also close to the enbloc site.

Euro Asia Park condo has lots of schools nearby, including Maris Stella High School, Cedar Primary School, St. Andrew’s Junior School, and Pei Chun Public School, all of which are within a 2-kilometer radius.

The deadline for the bid is March 14, 2023, at 3 p.m.

Euro-Asia Park En Bloc All Details

  • Status: For Sale

  • Tenure: Freehold

  • Land Size: 129,793 sq ft

  • Total Units: 163

  • Gross Plot Ratio: 2.8

  • Gross Floor Area: 338,860 sq ft

  • Nearest MRT: Woodleigh & Potong Pasir

  • Address: 25 Woodleigh Close

  • District: 13

  • Singapore Region: Rest of Central Region (RCR)

  • Marketing Agent: OrangeTee Advisory

  • Reserve Price: S$500 million

  • Tender Close: March 14, 2023