Meyer Park in Marine Parade up for collective sale at $420 mil
allowable gross floor location functions out to some 289,628 sq ft.
The development is growth next situated the site of Meyer Mansion, estate 200-unit freehold condo property GuocoLand that was launched in September 2019. In total amount, there are currently 4,742 devices of apartment or condos and also condominiums within a 1km radius of Meyer Park.
Meyer Park, an estate condo development at 81 and 83 Meyer Road in District 15’s Marine Parade area, is up for cumulative sale using tender with a get cost of $420 million.
Read likewise: Prices of brand-new condos in Marine Parade remain firm on durable need
The collective sale tender for Meyer Park will certainly close on Sept 9 at 3pm.
Meyer Park is a 60-unit seafront condominium that was finished in the very early 1980s. Including the 7% bonus flooring area, the optimum Senja Residences Site Plan
Meyer Park is a 60-unit seafront condo that was finished in the very 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 domestic usage with a plot proportion of 2.8. Consisting of the 7% incentive flooring area, the optimum allowable gross flooring area exercises to some 289,628 sq ft.
According to special marketing agent Edmund Tie & Carbon monoxide, the land rate works out to around $1,720 psf per story proportion. This includes a growth charge of about $78.2 million, which takes into consideration the 7% perk flooring area.
Swee Shou Fern, head of financial investment advisory at Edmund Tie, states the new development at the website can accommodate up to 251 new homes.” [The advancement] will certainly take pleasure in scenic sea views to its south as well as an unobstructed sight over the two-storey bungalow enclave 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 services around include malls such as Parkway Parade, i12 Katong, Kinex and Kallang Wave Mall; while recreational centers are offered at neighboring East Coast Park.
The development is located next to the site of Meyer Mansion, the 200-unit property condo by GuocoLand that was launched in September 2019. To date, 165 (83%) units have been sold at Meyer Mansion at an ordinary price of $2,673 psf, based upon information put together by EdgeProp LandLens and EdgeProp Research tools.
According to Edmund Tie, the growth has achieved the requisite 80% of owners’ authorization for a cumulative sale– the first time it has actually done so, regardless of four cumulative sale efforts made in the past.
The website is also located within close distance to Bukit Sembawang Estates’ Liv@MB, which was launched in May and also saw 75% of its 298 systems offered during launch weekend at an ordinary asking price of $2,387 psf. Various other launches within a 1km distance in the past 3 years include the 144-unit Coastline Residences, the 56-unit MeyerHouse, the 92-unit Nyon, and also the 66-unit One Meyer. In total, there are presently 4,742 devices of apartment or condos and condominiums within a 1km radius of Meyer Park.
Leave a ReplyWant to join the discussion?
Feel free to contribute!