Casa Meyfort en bloc sale relaunched

The relaunch followed the 3.8% price increase in the Outside Central Region it is in.

The en bloc sale for freehold site Casa Meyfort has been relaunched, Edmund Tie & Company (ET&Co) said in an announcement. It was previously put up for sale on December 2017 for a reserve price of $340m.

ET&Co, citing URA’s flash estimates, noted that there was a 3.8% price increase in the Outside Central Region (OCR), which Casa Meyfort is a part of, higher than the 0.8% from the previous quarter. “Based on ET&Co’s caveats analysis, it showed that resale prices of existing condos and private apartments in District 15 have gone up significantly following news of the Amber Park collective sales last year,” the firm said.

The development was completed in the 1990s and comprises 76 apartment units. It has a land area of approximately 7,919.9 sqm or 85,249 sqft. Under Master Plan 2014, the site is zoned for residential use with a gross plot ratio (GPR) of 2.8.

Casa Meyfort is located within 600 metres to the upcoming Katong Park MRT station along the Thomson-East Coast Line (TEL). It is near major roads and expressways such as Fort Road, Mountbatten Road, and Tanjong Katong Road. The project is a 10 minutes’ drive to the Central Business District (CBD) and a short walking distance to East Coast Park.

The site is near to a wide array of amenities including malls such as Parkway Parade and I12 Katong. The vicinity is also surrounded by various international campuses including Chatsworth International School (East Campus) and Canadian International School (Tanjong Katong Campus), and local schools like CHIJ Katong Convent.

ET&Co Senior director for investment advisory Tan Chun Ming commented, “We are relaunching the collective sale tender as we see a great opportunity in this freehold site that is positioned for an exemplary upscale development that stands to enjoy panoramic and breathtaking views of the city skyline and horizon. Homes on the lower floors will also enjoy lush greenery views overlooking East Coast Park and the landed housing estate.”

The tender exercise for the site will close on Monday, 21 May 2018 at 3 p.m.