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Full Version: One Meyer" Former The Albracca along Meyer Road. One of the Highly Anticipated Freeho
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One Meyer (formerly The Albracca) is one the Highly Anticipated upcoming Freehold Condominium located in a much sought-after Meyer Road precinct, which is close to the CBD, Amenities, Airport and Doorsteps to Katong Park MRT Station (U/C) under the Thomson East Coast Line. It was enbloc sold to Sustained Land for S$69.1 million which topped the owners’ guide price from S$62 million to S$65 million, works out to about S$1,409 per sq ft per plot ratio inclusive of development charges. The estimated breakeven price is around S$1,900 and estimated selling price will be upward range of S$2,400.

Under the 2014 Master Plan, the 23,400 sq ft site is zoned ‘Residential’ with an allowable gross plot ratio of 2.1. One Meyer may be redeveloped to accommodate a high-rise apartment development of about 18 to 24 storeys, depending on the technical height controls imposed by the government departments. Subject to design and approval from the Urban Redevelopment Authority (URA), a developer may potentially configure the allowable gross floor area (GFA) of 49,130 sq ft into a maximum of 65 apartments with an average size of about 750 sqft. The high-rise development that may be built on site should also be able to enjoy unblocked views across Katong Park and the sea.\

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As the land that One Meyer sits on is zoned with a plot ratio of 2.1, this is really a mid-rise development, so it won't be extremely tall.  That makes it more in keeping with the height profile of neighbouring condominiums, but is a bit of a pity, as it faces unblocked views across Katong Park to the sea.  So higher floor units here will get sea views, but you need to be safely on the 10th floor and above to do so, since the trees of East Coast Park are already over 8 storeys high.  This is not the only new condominium along Meyer Road.  We have Meyerhouse closer to the other end of Meyer Road near Tanjong Katong MRT station, but Meyerhouse is a low-rise 5 storey high development, so that one won't be able to get any sea views at all.  Furthermore that project only has big units, which make the total quantum quite unaffordable for most people.  Meyer One is likely to have small units for sale, which would cater to those on a smaller budget, yet want freehold in District 15.  Especially since the PSF selling price could be in the region of $2,300 to $2,500 PSF.