Singapore, 17 January 2023 – Edmund Tie & Company (EDMUND TIE), as the sole marketing agent, is relaunching Meyer Park for sale today at a lower reserve price. The site offers developers an opportunity to acquire a freehold seafront residential site in prime District 15.
The tender for Meyer Park will close on 8 February 2023, 3pm.
Located at 81 & 83 Meyer Road, Meyer Park sits on a land area of approximately 8,981 sq m (96,672 sq ft), featuring an ideal North-South orientation. The site enjoys unblocked panoramic vistas, overlooking a two-storey landed housing estate stretching to Paya Lebar to its North and sweeping seaview across its 88-metre frontage to its South.
Under the Master Plan 2019, the site is zoned for “Residential” use with a plot ratio of 2.8. Including a 7% bonus floor area, the maximum allowable gross floor area works out to approximately 26,907 sq m (289,628 sq ft).
The reserve price for the property is S$390 million. Including an estimated Land Betterment Charge of about S$90.9 million, the land rate works out to approximately S$1,660 per sq ft per plot ratio.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “Developers are actively hunting to replenish their landbanks, albeit more cautious and selective in this current market. As such, sites of a palatable size and quantum, coupled with strategic location and exceptional site attributes, such as Meyer Park, will have a strong appeal to developers.”
“The successful buyer can consider developing luxurious seafront homes along the prestigious Meyer Road, often referred to as the ‘Nassim of the East’, given the site’s advantage of tranquil city-fringe living, while being in a prime location where there is easy access to a plethora of amenities,” adds Ms Swee.
Amenities can be found in the nearby Parkway Parade, i12 Katong, East Coast Park, as well as the heritage shophouses along Katong, which houses local cuisine restaurants, chic cafes, and boutique lifestyle stores.
Residents can connect to other parts of Singapore via the East-Coast Parkway, which seamlessly connects to other expressways including Marina Coastal Expressway, Pan Island Expressway, Kallang-Paya Lebar Expressway, and Ayer Rajah Expressway. The Katong Park MRT Station on the Thomson East Coast Line, which is expected to be operational in 2024, is a short stroll away.
Nearby reputable educational institutions include Tao Nan Primary School, Kong Hwa School, CHIJ Katong (Primary), Tanjong Katong Primary School, Dunman High School, Chung Cheng High School, and Victoria Junior College, among others.
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For further information contact: Swee Shou Fern (Ms) Executive Director Investment Advisory DID: +65 6393 2523 Email: shoufern.swee@etcsea.com |
Media please contact: Seah Li Ching (Ms) Corporate Communications DID: +65 6393 2369 Email: liching.seah@etcsea.com |