Prime Freehold Residential Site at Singapore East Coast, Meyer Place, Listed for Sale at $25 Million
A highly sought-after freehold residential site at 5 Meyer Place has recently been listed for sale, boasting a guide price of $25 million. This prime real estate offers immense potential for investors and developers looking to capitalize on its outstanding location and attributes.
Exceptional Location and Accessibility
The property at 5 Meyer Place is situated in a prime residential area, with convenient access to various transportation options. The upcoming Katong Park MRT Station is located just across the street, making it an excellent choice for potential residents seeking easy access to public transportation. Furthermore, the location is conveniently near East Coast Park, a well-regarded destination for relaxation and recreational activities.
The property benefits from dual road frontages facing Meyer and Fort Road, offering excellent connectivity to major expressways. The Central Business District (CBD) and Singapore Changi Airport are both a mere 15-minute drive away via the East Coast Park Expressway.
Impressive Site Specifications
The residential site encompasses an area of approximately 10,154 sq ft and currently houses a single-story landed property. Designated for residential purposes as per the 2019 Master Plan, the site possesses a permissible plot ratio of 2.1. In addition, it boasts a maximum gross floor area of approximately 22,817 square feet, including extra balcony space.
A new residential development on this site could potentially yield 19 dwelling units, subject to approval from relevant authorities. The guide price of $25 million translates to a land rate of about $1,770 psf per plot ratio, including bonus balcony area and land betterment charges.
Nearby Amenities and Attractions
The residential site at 5 Meyer Place offers many nearby amenities and attractions, enhancing its appeal to prospective residents. These include the Singapore Swimming Club, Singapore Sports Club, and shopping complexes such as Leisure Park Kallang Mall, Kallang Wave Mall, and Parkway Parade.
Strong Interest from Developers and Consumers
The recent acquisition of a collective sale property situated along Meyer Road, in conjunction with the prevailing benchmark for novel residential prices in District 15, serves to emphasize the confidence demonstrated by both developers and prospective homeowners in the surrounding area, as well as the ongoing demand for modern living spaces within the region. As such, the site at 5 Meyer Place is expected to attract strong interest from landed housing developers, with the potential for redevelopment into multiple landed houses or sale to a single family for their use.
Public Tender Exercise Closing Date
The formal bidding process for the property located at 5 Meyer Place is scheduled to conclude on the 15th of May, promptly at 3:00 PM. This presents a golden opportunity for investors and developers looking to acquire a prime piece of real estate in a highly desirable location.
New Launch in Singapore East Coast, District
Grand Dunman is an upcoming new launch condominium project boasting world-class amenities and luxurious living spaces. This prestigious development is in a prime location, offering residents seamless access to public transportation, shopping centers, and recreational facilities. More details, such as the Grand Dunman Estimated Price, will be released soon.