13 Jun '17, 4pm

The Albracca at Meyer Road up for en-bloc sale

The owners are expecting offers in the range of $62 million to $65 million. (Photo: JLL) An 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. This is the first time that the 11-unit strata-titled development is being offered for sale collectively. More 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. The 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. “It is not often that a site on Meyer Road is made available f...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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