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Thread: Parc Esta by MCL Land former Eunosville HUDC.

  1. #1
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    Default Eunosville

    $765m en bloc sale: Eunosville may make way for 1,399 new homes

    https://www.straitstimes.com/busines...or-311-million

    The collective sale market here is powering ahead with the sale of privatised HUDC estate Eunosville for $765 million - the second-highest price ever for such a property.

    The sprawling 330-unit Eunosville, built in the 1980s, could make way for as many as 1,399 units in a new project.

    The site has been sold to a Jardine Matheson Group unit, MCL Land, at a price well above expectations.

    It is the fourth successful collective sale this year amid recovering sentiment and developers' optimism over residential property.

    The price for Eunosville, near Eunos MRT station, is the second-highest achieved in the collective sale of a privatised HUDC project, after Farrer Court sold for about $1.34 billion in 2007, marketing agent OrangeTee said yesterday. It was the estate's second try at a collective sale after an unsuccessful bid in 2013.

    The price represents a premium of more than 17 per cent over the $643 million to $653 million the owners had asked for when the site was launched for tender in April.

    "The 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," noted Mr Marcus Oh, executive director of business solutions at OrangeTee.

    17%

    Price premium over the $643 million to $653 million owners had asked for when the site was launched for sale in April

    Mr Oh told The Straits Times that the tender for the 376,713 sq ft site with wide frontage onto Changi Road and Sims Avenue attracted competitive bids from eight bidders.

    The sale price, with the addition of an estimated $194 million in extra government charges, works out to a land rate of $909 per sq ft per plot ratio. The charges are payable to the state to intensify land use to a gross plot ratio of 2.8 and to top up the lease to a fresh 99 years.

    Built in the late 1980s, the project has about 71 years left on the lease. It has 255 maisonettes over six residential blocks and four walk-up apartment blocks with 75 units.

    OrangeTee said each owner stands to get about $2.25 million to $2.41 million upon completion of the deal, subject to sale conditions.

    Resident Ben Ong, who has been living in Eunosville for 17 years, is sentimental about leaving, even though he recognised that the old estate is in need of renewal.

    "It is sad. This is where we raised our children and the location is very convenient. So, I may consider renting and buying a unit at the new development in the future," said Mr Ong, 60, an engineer.

    The site could be rebuilt into a 1,399-unit development with an average apartment size of 70 sq m.

    Consultancy CBRE said the new units could be sold for an average of about $1,700 to $1,750 psf.

    "There is a window of opportunity for collective sales as there are fewer government land sales sites. En bloc projects that are ready to be put up for tender in the next three to six months should get good response," said Mr Galven Tan, director for capital markets at CBRE.

    The latest deal came after last week's sale of Rio Casa estate in Hougang and mixed-use development Goh & Goh Building in Upper Bukit Timah Road, and One Tree Hill Gardens in the prime District 10 last month.

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    Default Parc Esta by MCL Land former Eunosville HUDC.



    Parc Esta is the latest development by award-winning developer, MCL Land. Located on the former Eunosville HUDC estate (enbloc) just opposite Eunos MRT Station, Parc Esta is set to be the gem of Eunos district. Positioned between the CBD, East Coast Park and the ever-growing Changi Airport, Parc Esta brings you closer to work and play.

    Click to register your interest.

    https://goo.gl/HtcrFJ

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    Inviting all PropNexians to our 1st agents briefing before coming VVIP Preview.

    This session we will share with you the key sales angles why parc esta will be the coming top seller!

    Unveiling the next GEM of the EAST!

    Prestigious Developer MCL
    1399 units from 1-5 bedroom types
    3 mins walk to Eunos MRT
    Near to CHIJ Katong, St Stephens, Canadian Intl, and Chatsworth Intl School
    Amenities and Malls ; Paya Lebar Square, I12 Katong, Parkway Parade & One KM Mall
    1 station to Paya Lebar Transformation.

    Date: Mon, 8 Oct 2018
    Time: 11am to 1pm
    Location: SMART Auditorium

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    Parc Esta Architect Briefing����
    on Site Show flat is located along Sims Avenue, Actual Site.

    ICB/ECB Site Briefing
    Mon, 29 Oct
    Session 1: 10am to 1pm
    Session 2: 2pm to 5pm

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    Default

    how many sold today?

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    Quote Originally Posted by bargain hunter View Post
    how many sold today?
    more than 300

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    Quote Originally Posted by Arcachon View Post
    more than 300
    good sales.

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    Balloting results for Parc Esta among JMA.

    PN: 139 ������
    ERA: 91
    OTT: 49
    Huttons: 49

    Total 331

    Average around $1680psf

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    what are the starting prices for the 635sq ft units?

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    Default

    Quote Originally Posted by sginvestor View Post
    what are the starting prices for the 635sq ft units?
    Wait one month for URA data.

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    Quote Originally Posted by Arcachon View Post
    Wait one month for URA data.
    haha, i think you mean 1 week.
    it will be out within a week

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    MCL Land sells 329 units at Parc Esta, with average price of $1,680 psf

    By Cecilia Chow / EdgeProp Singapore

    November 18, 2018


    MCL Land’s Parc Esta, the much-anticipated launch at Sims Avenue in Eunos, chalked up sales of 329 units on the first day of sales on Nov 17. This works out to 73% of 450 units released. The most popular unit types were the one- and two-bedroom units which range in size from 420 to 624 sq ft and 581 to 1,023 sq ft respectively. Average price of units sold was $1,680 psf.

    “We are happy with the encouraging sales from yesterday,” according to an MCL spokeswoman who declined to be named. “Even though we knew we had a great project in terms of location – in the city fringe, near an MRT station, and just one stop from Paya Lebar regional centre, we worked very hard to deliver a good product with high-specifications. People found it a value buy.”

    The four biggest property marketing agencies were involved in the sale of Parc Esta: PropNex, ERA, Huttons Asia and OrangeTee & Tie.

    “We were very confident that the project would sell more than 300 units,” says Ismail Gafoor, CEO of PropNex. “About a month ago, we held a consumer seminar at Suntec City, and more than 200 consumers showed up.”

    PropNex agents collected about 250 cheques as expressions of interest in the weeks leading up to the launch. Of those collected, 140 converted into actual sales, which is a 56% conversion rate, says Gafoor.

    “There are those who like the east – with its proximity to the beach, leisure activities and yet close to the downtown area,” adds PropNex’s Gaforr. “The buyers were convinced of the development’s luxury resort design concept and high-specifications,” For instance, kitchens come with designer fittings and SMEG appliances; en suite bathrooms are fitted with branded sanitary fittings from Hansgrohe and fixtures from Villeroy & Boch. Units are also equipped with the latest in smart home technology.

    Parc Esta’s design architect is the award-winning architectural firm P&T Group, with Ecoplan Asia as the landscape architect. Hongkong-based PTang Studio, a multiple award-winning interior designer, was chosen to design the show suites at the sales gallery.

    The 1,399-unit private condo sits on a 377,000 sq ft, 99-year leasehold land area. It has nine blocks of 18-storeys, and designed with full-height glass exteriors to maximize the views of the surroundings. Almost three quarters of the sprawling site is dedicated to landscaping and facilities.

    The project is a redevelopment of the former Eunosville privatized HUDC estate which MCL Land purchased en bloc for $765 million in June 2017. With the addition of an estimated differential premium of $194 million, the land cost worked out to $909 psf per plot ratio.

    “While most developers try to cut cost by reducing their specifications in order to bring down the selling price, MCL Land was generous in providing a quality project with high specifications, and yet sensitively priced at an average of $1,680 psf,” says Gafoor. “Buyers at Parc Esta benefitted too.”

    About 10 projects have been launched since the property cooling measures on July 6. “Parc Esta is one of the last significant new projects to be launched this year,” says the MCL Land spokesperson. “The sales numbers achieved so far have been very encouraging.”

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    Default

    Ours Parc Esta
    is also included in those 319 units

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    Quote Originally Posted by lawrencesee View Post
    Ours Parc Esta
    is also included in those 319 units
    Congrats

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  18. #18
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    Unhappy Parc Esta


    Strategically positioned right in at the heart of Eunos is Parc Esta (formerly Eunosville HUDC estate) 东景苑 , the latest development by renowned real estate developer, MCL Land.

    Future residents will be delighted to know that Parc Esta is enclosed by a wide array of amenities! Avid buyers are going to be spoiled for choice with the various shopping mall located next to the development which includes OneKM Mall, Singpost Centre, Paya Lebar Square, Bedok Mall, i12 Mall, Bedok Point and Parkway Parade. Some of my buyers also like Midwood & Riverfront Residences

    Register to view Parc Esta Showflat
    Parc Esta Price will be released during the preview
    Get a Copy of Parc Esta Floor Plan
    For more info please contact Andy Goh PropNex

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