21 Jul '17, 3am

The Albracca sold collectively for $69m

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 plot ratio inclusive of development charges, and is higher than the owners’ guide price of $62 million to $65 million during the tender which closed on Thursday (20 July). Completed in 1990, the 10-storey strata-titled development comprises 11 apartments. This is the first time that the property was offered for sale collectively, with more than 80 percent of the owners consenting to the deal. SEE ALSO: Why the hype around properties with en-bloc potential? “The Albracca’s tender response was strong with over a dozen bids received from developers of all sizes – from large to boutique ...

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

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