Meyer Mansion is the up and coming residential condo to be developed by the well-established developer, GuocoLand. The acquired site will be demolished and redevelop as to a brand new residential condominium.
Casa Meyfort is a freehold condominium situated along Meyer Road in District 15. The residential condominium was relaunched and available to be purchased on April 10 with a reserve price at $340 million. This was the following attempt after first tender taken place in the last December. The Casa Meyfort condo was understand and expected to be the last few en-bloc sales before the recent tightening of cooling measures implemented on July 6.
From the asking price and an additional of a development charge of $57.2 million, the land rate is $1,664 per sq ft per plot ratio (psf ppr). This has a slight increased from the previous cost of $46 million. The past land rate was $1,616 psf ppr.
The acquired freehold private property along Meyer Road has a land size of 7,919 square meters (85,249 square feet) in land area. The development was completed during the 1990s and comprises of 76 condo units in total. From the latest URA 2014 Master Plan, the development site is zoned as residential site with a max plot proportion of 2.8.
Meyer Mansion is situated within the 600m radius from the up and coming Katong Park MRT station, along the Thomson-East Coast Line. The location is situated close to many nearby shopping malls such as Parkway Parade and 112 Katong. The site is likewise surrounded by well known neighborhood schools: Canadian International School, Chatsworth International School, Dunman High School, CHIJ Katong Convent, Tao Nan Primary School, Chung Cheng High School and Victoria Junior College.
The surrounding resale condo prices in District 15 have risen greatly after the recent collective en-bloc sale of Amber Park, a condo that comprises a 200-units freehold apartments sold at $906.7 million last October, commented by Edmund Tie and Company (ET&Co), the marketing agent for Casa Meyfort.
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