Meyer Park condo up for en bloc sale at $420 million

It comprises a total of 60 units and is close to the upcoming Katong Park MRT station.

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Completed in 1985, the Meyer Park condo has been put up for en bloc sale with a reserve price of $420 million.

The freehold condo is located along Meyer Road in District 15; is within the Marine Parade precinct.

In addition, it is also within close walking distance to the future Katong Park MRT station. It is expected to be in operation by 2024.

It currently sits on a land area of around 96,671 square feet and comprises only 60 units across 2 residential blocks.

According to its marketing agent, the land rate will work out to be approximately $1,720 per square foot per plot ratio (psf ppr). 

This is inclusive of a development charge that is around $78.2 million.

Under the latest URA Master Plan 2019, the site has a gross plot ratio of 2.8.

Prior to this en bloc sale, Meyer Park condominium has made 4 attempts to call for an en bloc sale. 

However, those attempts didn’t manage to achieve the pre-requisite of an en bloc sale in Singapore, which is attaining 80 percent of the owners’ consent.

The most recent unit transacted in the open market was a 1,808 sq ft apartment.

It was sold for $2.565 million ($1,418 psf) back on 03 July 2020.

Right next to Meyer Park is a new launch condo called Meyer Mansion, by GuocoLand. 

Units have been sold at an average per square foot price of $2,668 during the last 6 months.

Another project, Meyerhouse, is located diagonally across the Meyer Park condo.

It was completed earlier in 2022 and units have been transacted within the range of $2,444 to $2,723 psf – from January to July 2022.

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