Euro Asia Park up for collective sale at $500 mil

By Atiqah Mokhtar / EdgeProp Singapore | September 12, 2022 12:53 PM SGT
Euro Asia Park is a low-rise residential development on Woodleigh Close, off Upper Serangoon Road (Picture: OrangeTee Advisory)
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SINGAPORE (EDGEPROP) - Euro Asia Park, a freehold residential development on Woodleigh Close off Upper Serangoon Road in District 13, will be put up for collective sale via public tender on Sept 13 with a guide price of $500 million, says marketing agent OrangeTee Advisory.
Euro Asia Park is a low-rise development on a land area of around 129,793 sq ft. The site is zoned for residential use with a gross plot ratio of 2.8. Completed in 1996, it has a total of 163 units.
Map and overview of Euro Asia Park - EDGEPROP SINGAPORE
Map and overview of Euro Asia Park (Source: EdgeProp LandLens)
The site has a maximum allowable gross floor area (GFA) of 338,860 sq ft, including a 7% bonus floor area for private outdoor spaces. The guide price works out to a land rate of $1,520 psf per plot ratio, including a land betterment charge of $71.5 million.
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Upon redevelopment, the site could potentially yield up to 397 new units, subject to approval from the relevant authorities. A Pre-Application Feasibility Study (PAFS) is currently being conducted for this purpose.
“The Euro Asia Park site is being made available when the supply of land parcels in the Rest of Central Region (RCR) is quite limited. It is worth looking for developers who wish to replenish their fast-depleting land stock,” says Marcus Oh, managing director at OrangeTee Advisory.
Euro Asia Park is a 10-minute walk from the Woodleigh MRT Station on the North-East Line. Above Woodleigh MRT Station is the 300,000 sq ft Woodleigh Mall, currently under construction. Together with other nearby malls such as The Poiz Centre and The Venue, it promises to offer residents of the development myriad shopping and dining options.
The site is close to Bidadari Park, a new 10 ha (107,639 sq ft) space slated to open in 2023. It will include a lake, open lawns, a 700m heritage walk and 6 km of wooded experiential trails.
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The development is close to several schools, which will appeal to families with school-going children. Stamford American International School is adjacent to Euro-Asia Park, while Cedar Primary School, St. Andrew’s Junior School, Maris Stella High School and Pei Chun Public School are all within a 2km radius.
Recent sales transactions - EDGEPROP SINGAPORE
Recent sales transactions within a 500m radius of Euro Park Asia include sales at upcoming developments such as The Tre Ver (labelled 'C' on the map), The Woodleigh Residences (labelled 'D' on the map) and Park Colonial (labelled 'A' on the map) (Source: EdgeProp LandLens)
The tender for Euro Asia Park will close on Nov 22 at 3 pm.

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