{"id":57774,"date":"2017-06-13T23:05:40","date_gmt":"2017-06-13T16:05:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-albracca-at-meyer-road-up-for-en-bloc-sale\/"},"modified":"2017-06-13T23:09:34","modified_gmt":"2017-06-13T16:09:34","slug":"the-albracca-at-meyer-road-up-for-en-bloc-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-albracca-at-meyer-road-up-for-en-bloc-sale\/","title":{"rendered":"The Albracca at Meyer Road up for en-bloc sale"},"content":{"rendered":"


\nThe owners are expecting offers in the range of $62 million to $65 million. (Photo: JLL)
\nAn en-bloc tender exercise has been launched for The Albracca, a 10-storey apartment along Meyer Road which was completed in 1990, revealed sole marketing agent JLL.
\nThis is the first time that the 11-unit strata-titled development is being offered for sale collectively.
\nMore than 80 percent of the owners agreed to sell the property, which sits on a 23,400 sq ft site at the corner of Meyer Road and Meyer Place. The upcoming Katong Park MRT station on the Thomson-East Coast line is right at its doorstep, while Katong Park and the sea are also nearby. \u00a0
\nThe owners are expecting to achieve a sale price of about $62 million to $65 million. If no development charge is payable, this works out to $1,262 to $1,323 psf per plot ratio.
\n\u201cIt is not often that a site on Meyer Road is made available for sale,\u201d said Karamjit Singh, Senior Consultant at JLL. \u201cThe main supply of sites in this area typically arises from a collective sale of the older developments.\u201d \u00a0
\nHe added: \u201cWe expect this site to be well-received by developers, especially in light of the bullish bidding seen at recent land tenders.\u201d
\nThe site is zoned residential with an allowable gross plot ratio of 2.1 under the 2014 Master Plan. It may be redeveloped into a high-rise apartment of about 18 to 24 storeys, depending on the height restrictions imposed by the government.
\nA developer may potentially configure the allowable gross floor area of 49,130 sq ft into a maximum of 65 apartments with an average size of 753 sq ft.
\nThe tender for The Albracca closes on 20 July.\u00a0\u00a0
\nThis latest launch comes shortly after four collective sales were successfully concluded last month, surpassing the three en-bloc deals done for the whole of last year.
\nThey include the sale of Eunosville near Eunos MRT station for a whopping $765.78 million, Goh & Goh Building in Upper Bukit Timah Road for $101.5 million, Rio Casa in Hougang for $575 million, and One Tree Hill Gardens off Orchard Boulevard for $65 million.
\n\u201cThese are classic signs of a brewing en-bloc sale cycle, which started last year, expected to grow in activity this year, and possibly mature in 2018. Activity is picking up pace with the positive turning of the outlook of the residential market,\u201d noted Singh.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…The Albracca at Meyer Road up for en-bloc sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owners are expecting offers in the range of $62 million to $65 million. (Photo:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-57774","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-f1Q","jetpack-related-posts":[{"id":61378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-albracca-sold-collectively-for-69m\/","url_meta":{"origin":57774,"position":0},"title":"The Albracca sold collectively for $69m","date":"July 21, 2017","format":false,"excerpt":"\r The 10-storey apartment at Meyer Road was completed in 1990 and comprises 11 units. (Photo: JLL) The Albracca apartment at Meyer Road has been sold in a collective sale to property developer Sustained Land for $69.119 million, revealed marketing agent JLL. The price works out to $1,409 psf per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-property-up-for-sale\/","url_meta":{"origin":57774,"position":1},"title":"Katong property up for sale","date":"August 16, 2017","format":false,"excerpt":"\r Aerial view of the freehold site at Amber Road, which has been put up for sale at a guide price of between $56.6 million and $61 million. (Photo: JLL) A freehold site in Katong comprising four vacant old houses has been put up for sale by expressions of interest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/margate-point-makes-another-collective-sale-attempt\/","url_meta":{"origin":57774,"position":2},"title":"Margate Point makes another collective sale attempt","date":"February 14, 2019","format":false,"excerpt":"\r Majority of the owners agreed to lower the reserve price of the Katong property from $38 million to $36.5 million. (Photo: JLL) The owners of Margate Point, a 15-unit residential development along Margate Road in Katong, are making a second attempt at an en bloc sale, with 70 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74512,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parkway-mansion-sold-for-146-99mil-to-sustained-land-led-consortium\/","url_meta":{"origin":57774,"position":3},"title":"Parkway Mansion sold for $146.99mil to Sustained Land-led consortium","date":"December 14, 2017","format":false,"excerpt":"\r After two failed attempts at a collective sale, Parkway Mansion has finally been sold to a consortium led by Sustained Land Pte Ltd for $146.99 million. Colliers International revealed that the sale price was 6.5 percent higher than the owners\u2019 guide price of $138 million during the tender launched\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90738,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-bungalow-plot-off-meyer-road-up-for-sale\/","url_meta":{"origin":57774,"position":4},"title":"Freehold bungalow plot off Meyer Road up for sale","date":"June 7, 2018","format":false,"excerpt":"\r The 16,160 sq ft site near the upcoming Katong Park MRT station has an asking price of between $22 million and $24 million. (Photo: JLL) A prime bungalow site off Meyer Road in District 15 has been put up for sale by expression of interest (EOI) with an asking\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84896,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/casa-meyfort-and-landmark-tower-up-for-collective-sale\/","url_meta":{"origin":57774,"position":5},"title":"Casa Meyfort and Landmark Tower up for collective sale","date":"April 10, 2018","format":false,"excerpt":"\r The 139-unit Landmark Tower near Pearl\u2019s Hill City Park has a reserve price of $285 million, or $1,400 psf ppr. (Photo: JLL) Encouraged by the 3.8 percent hike in private home prices in the Outside Central Region as per the Urban Redevelopment Authority\u2019s quarterly flash estimates, the owners of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/57774"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=57774"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/57774\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=57774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=57774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=57774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}