Meyer Park in Marine Parade up for collective sale at $420 mil

According to unique marketing representative Edmund Tie & Co, the land rate exercises to around $1,720 psf per plot ratio. This consists of an advancement fee of about $78.2 million, which considers the 7% reward flooring area.

The development is located alongside the site of Meyer Mansion, the 200-unit freehold condo by GuocoLand that was released in September 2019. To day, 165 (83%) systems have actually been sold at Meyer Mansion at an ordinary price of $2,673 psf, based upon information assembled by EdgeProp LandLens and EdgeProp Research tools.

allowable gross floor location works out to some 289,628 sq ft.

Meyer Park is a 60-unit seafront condo that was finished in the very early 1980s. Including the 7% incentive floor area, the maximum The Reserve Residences Site Plan

Swee Shou Fern, head of investment advisory at Edmund Tie, states the new growth at the website can suit approximately 251 brand-new houses.” [The growth] will take pleasure in panoramic sea views to its south as well as an unblocked sight over the two-storey cottage territory in Mountbatten to its north,” she includes. Meyer Park is within strolling distance of the upcoming Katong Park MRT Station on the Thomson-East Coast Line, which is expected to open in 2024. Various other amenities around consist of shopping malls such as Parkway Parade, i12 Katong, Kinex as well as Kallang Wave Mall; while recreational facilities are offered at close-by East Coast Park.

Meyer Park is a 60-unit seafront condominium that was completed in the early 1980s. It rests on a land area of 96,672 sq ft, with an 88m frontage facing the sea. Under the URA Master Plan 2019, it is zoned for residential usage with a story ratio of 2.8. Including the 7% bonus floor area, the maximum permitted gross floor location exercises to some 289,628 sq ft.

According to Edmund Tie, the development has actually achieved the requisite 80% of proprietors’ permission for a collective sale– the first time it has done so, regardless of four cumulative sale attempts made in the past.

The cumulative sale tender for Meyer Park will close on Sept 9 at 3pm.

Meyer Park, a freehold condominium growth at 81 and 83 Meyer Road in District 15’s Marine Parade location, is up for collective sale via tender with a book rate of $420 million.
Read likewise: Prices of new condominiums in Marine Parade remain firm on robust need

The development is advancement next to the site of Meyer Mansion, manor 200-unit freehold condo by GuocoLand that was launched in September 2019. In total, there are presently 4,742 systems of apartments and also condos within a 1km distance of Meyer Park.

The website is likewise situated within close distance to Bukit Sembawang Estates’ Liv@MB, which was launched in May and also saw 75% of its 298 systems sold throughout launch weekend at an ordinary asking price of $2,387 psf. Various other launches within a 1km radius in the past 3 years consist of the 144-unit Coastline Residences, the 56-unit MeyerHouse, the 92-unit Nyon, and the 66-unit One Meyer. In total, there are currently 4,742 systems of houses as well as condos within a 1km radius of Meyer Park.