: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: MeyerHouse Condo Launch
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
It isn't just the Holland Road / Bukit Timah area that will see a spate of new freehold launches in 2019.  The East Coast area will also see a number of them, with One Meyer and Nyon leading the pack.  In the midst of these, MeyerHouse stands out.  This project will be built on the site of the former Nanak Mansions at Meyer Road, beside a neighbourhood park.  Nanak Mansions was owned by the members and companies of one Indian family in Singapore, who unanimously agreed to sell it off to UOL.

What is unique about the MeyerHouse condo is its unit mix.  Given the size of the land and plot ratio, it could have accommodated up to well over 100 units.  Instead, UOL will build only 56 units on this site.  Which is a smart business move, as there is a dearth of big freehold units for sale, not just in the East Coast, but almost everywhere outside the Central Region.  However the units at the Meyerhouse development won't be cheap.  We are probably looking at sizes of between 2,000 to 3,000 square feet, and prices of somewhere around SGD$5M to $7M.  Not many buyers are in that budget range, as most locals would likely prefer to get a nice landed house with a bit of garden, for that amount.