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

Meyer Park, an estate condominium growth at 81 as well as 83 Meyer Road in District 15’s Marine Parade area, is up for collective sale through tender with a reserve rate of $420 million.
Read also: Prices of brand-new condos in Marine Parade remain firm on robust demand

Meyer Park is a 60-unit seafront apartment that was finished in the early 1980s. Including the 7% bonus offer floor area, the optimum Copen Grand EC

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

allowed gross floor location functions out to some 289,628 sq ft.

Meyer Park is a 60-unit seafront apartment that was finished in the very early 1980s. Including the 7% perk flooring area, the optimum permitted gross flooring location functions out to some 289,628 sq ft.

According to Edmund Tie, the development has actually achieved the requisite 80% of proprietors’ consent for a collective sale– the first time it has actually done so, despite 4 cumulative sale attempts made in the past.

Swee Shou Fern, head of investment advisory at Edmund Tie, claims the new growth at the site can suit approximately 251 brand-new houses.” [The development] will take pleasure in scenic sea sights to its south and also an unblocked sight over the two-storey cottage territory in Mountbatten to its north,” she adds. Meyer Park is within walking range of the upcoming Katong Park MRT Station on the Thomson-East Coast Line, which is anticipated to open in 2024. Various other features in the vicinity include shopping malls such as Parkway Parade, i12 Katong, Kinex as well as Kallang Wave Mall; while entertainment centers are available at close-by East Coast Park.

According to unique marketing agent Edmund Tie & Carbon monoxide, the land price exercises to around $1,720 psf per plot ratio. This consists of an advancement cost of roughly $78.2 million, which takes into account the 7% bonus floor area.

The development is growth next situated the site of Meyer Mansion, manor 200-unit freehold condo property GuocoLand that was launched in September 2019.

The development is located next to the site of Meyer Mansion, estate 200-unit freehold condo estate GuocoLand that was launched in September 2019. In total, there are currently 4,742 devices of apartment or condos and also condos within a 1km distance of Meyer Park.

The website is also situated within close closeness to Bukit Sembawang Estates’ Liv@MB, which was released in May and also saw 75% of its 298 devices marketed throughout launch weekend break at a typical market price of $2,387 psf. Other launches within a 1km span 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 amount, there are currently 4,742 systems of apartment or condos and also condos within a 1km span of Meyer Park.

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