Chief Editor July 29 2022

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Euro-Asia Apartments sold for S$222.18M via collective sale to KSH Holdings

Euro-Asia Apartments in Serangoon was finally sold for $222.18 million after a second attempt at collective sale.

Euro-Asia Apartments is a freehold property at District 12 which was put up for collective sale via public tender in early June at a guide price of S$218 million.

Euro-Asia Apartments is a 10-storey block of apartments comprising 84 units ranging from 840 to 2,443 square feet (sq ft) in size. It attained TOP in 1990.

The en bloc sale of Euro-Asia Apartments was unsuccessful in 2018 although the reserve price was lower at S$200 million.

Euro-Asia Apartments is located at 1037 Serangoon Road Singapore 328170 and it has a freehold land size of 56,476 sq ft. The maximum allowable gross floor area is about 158,132 sq ft.

KSH Holdings plan to redevelop the property into a new residential development with approximately 172 residential units. H10 Holdings Pte. Ltd. and SLB Development Ltd. will hold a minority stake in this development.

The collective sale price translates to a land rate of S$1,313 per square foot per plot ratio (psf ppr), inclusive of bonus balcony area. No development charge (DC) is applicable. 

SRI Capital Market is the marketing agent of Euro-Asia Apartments en bloc sale.