An exclusive marketing agent Singapore Realtors Inc (SRI) has put up a 10,154 sq ft freehold residential site at 5 Meyer Place for sale via public tender exercise, with a guide price of $25 million. The single-storeyed property has a land zoned for residential use with an allowable plot ratio of 2.1.

The maximum gross floor area is approximately 22,817 sq ft inclusive of bonus balcony space. According to the latest URA guidelines, the site can potentially yield 19 dwelling units subject to approval from the relevant authorities.

The land rate of the site works out to be $1,770 psf per plot ratio, inclusive of bonus balcony space and land betterment charge, payable upon baseline verifications. Bruce Lye, managing partner of SRI, said the site is in a great location with the upcoming Katong Park MRT station located across the road and a 15-minute drive away from the CBD and Singapore Changi Airport via the East Coast Park Expressway.

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Amenities nearby include Singapore Swimming Club, Singapore Sports Club and shopping complexes such as Leisure Park Kallang mall, Kallang Wave Mall and Parkway Parade.

Lye believes the site will appeal to both landed housing developers, with the possibility of redeveloping multiple landed houses, or sale to a single family to use it for own purposes.

He adds the recent sale of a collective sale site along Meyer Road coupled with the benchmark of new home prices in District 15 demonstrates the confidence from developers and consumers on the locality and demand for new homes in the area.

The public tender exercise for 5 Meyer Place will close on May 15 at 3 pm.

SRI’s latest offering is a 10,154 sq ft freehold residential site at 5 Meyer Place, with a guide price of $25 million. Located in a prime location, the property is zoned for residential use with a plot ratio of 2.1.

It has a maximum gross floor area of approximately 22,817 sq ft, inclusive of bonus balcony space, and has the potential to yield 19 dwelling units based on the latest URA guidelines, subject to approval from the relevant authorities.

Available amenities nearby include Singapore Swimming Club, Singapore Sports Club and shopping complexes such as Leisure Park Kallang mall, Kallang Wave Mall and Parkway Parade. In addition, the nearby attractions include the upcoming Katong Park MRT Station and East Coast Park. A 15-minute drive away is the CBD and Singapore Changi Airport via the East Coast Park Expressway.

The land rate of the site is $1,770 psf per plot ratio, inclusive of bonus balcony space and land betterment charge, payable upon baseline verifications.

According to Bruce Lye, managing partner of SRI, the site is an attractive proposition to both landed housing developers and those targeting single-family use. He believes there will be strong confidence from both developers and consumers, due to the collective sale site along Meyer Road and prices in District 15.

The public tender exercise for 5 Meyer Place closes on May 15 at 3 pm.