221 views
Photo from EDMUND TIE

Meyer Park sells for $392.18m

It was sold to UOL Group-Singapore Land Group’s joint venture.

United Venture Development (No. 6), an 80/20 joint venture company of UOL Group and Singapore Land Group, won the tender for the collective sale of Meyer Park. The property got sold for $392.18m.

The property’s collective sale is subject to approval by the Strata Titled Board.

“Including a land betterment charge of about $90.9m, the land rate works out to approximately $1,668 per square foot per plot ratio, which factors in a 7% bonus floor area,” said Edmund Tie & Company (EDMUND TIE), the property’s sole marketing agent.

Given that the building has 60 apartment units, each unit likely received approximately $5.25m to $7.26m from the collective sale.

Meyer Park is located at 81 and 83 Meyer Road. It sits on a land area of approximately 8,981.1 sq m (96,672 sq ft).

Under Master Plan 2019, the site is zoned for ‘Residential’ use at a plot ratio of 2.8 and can be redeveloped to a maximum gross floor area of 25,147.08 sq m (270,681 sq ft).
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!