Meyer Park relaunched for sale at a lower reserve price

The reserve price for the property is $390m.

Meyer Park has been offered for sale anew, but this time, at a lower reserve price of $390m.

“Including an estimated Land Betterment Charge of about S$90.9 million, the land rate works out to approximately $1,660 per sq ft per plot ratio,” Edmund Tie & Company, the property’s sole agent, said.

The tender for the freehold seafront residential site at 81 & 83 Meyer Road, District 15, will close on 8 February at 3 p.m.

Meyer Park sits on a land area of 8,981 sq m or 96,672 sq ft. Under the Master Plan 2019, the site is zoned for “Residential” use with a plot ratio of 2.8.

“Including a 7% bonus floor area, the maximum allowable gross floor area works out to
approximately 26,907 sq m or 289,628 sq ft,” Edmund Tie & Company said.