Business

Casa Meyfort up for sale with reserve price of $340m

Casa Meyfort, a freehold residential site at Meyer Road, is up for collective sale by tender.

Built in the 1990s, Casa Meyfort comprises 76 apartments on a land area occupying about 85,249 sq ft.

As the condominium fronts Meyer Road, the site has a good view of the central business district, the sea as well as the Mountbatten road landed housing estate.

Under the Government's 2014 Master Plan, the site is zoned for residential use with a gross plot ratio of 2.8.

MRT

It is located within 600m to the upcoming Katong Park MRT Station of the Thomson-East Coast Line.

The owners have set a reserve price of $340 million, which reflects a land rate of $1,616 per square feet per plot ratio.

The price tag includes a development charge of about $46 million.

Based on the reserve price, each owner will pocket almost $4.5 million on average.

The tender closes on Jan 17.

- THE STRAITS TIMES

Property