One Meyer (formerly The Albracca) is one the Highly Anticipated upcoming Freehold Condominium located in a much sought-after Meyer Road precinct, which is close to the CBD, Amenities, Airport and Doorsteps to Katong Park MRT Station (U/C) under the Thomson East Coast Line. It was enbloc sold to Sustained Land for S$69.1 million which topped the owners’ guide price from S$62 million to S$65 million, works out to about S$1,409 per sq ft per plot ratio inclusive of development charges. The estimated breakeven price is around S$1,900 and estimated selling price will be upward range of S$2,400.
Under the 2014 Master Plan, the 23,400 sq ft site is zoned ‘Residential’ with an allowable gross plot ratio of 2.1. One Meyer may be redeveloped to accommodate a high-rise apartment development of about 18 to 24 storeys, depending on the technical height controls imposed by the government departments. Subject to design and approval from the Urban Redevelopment Authority (URA), a developer may potentially configure the allowable gross floor area (GFA) of 49,130 sq ft into a maximum of 65 apartments with an average size of about 750 sqft. The high-rise development that may be built on site should also be able to enjoy unblocked views across Katong Park and the sea.\
More information at https://investintproperty.com/properties/one-meyer/
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