Abracadabra The Albracca? This 11-units private residential development at Meyer road, might effectively be sold off, should their cumulative sale asking price of $62 million be met. Exercising to be in between $1,262 to $1,323 psf, the property site near Tanjong Rhu is currently the home of the 10-storey The Albracca whose systems vary from 1,658 to 3,972 sq ft. Need to the sale succeed, each owner will stand to get in between $3 million to $7 million. The cumulative sales market has been red warm this first half of the year. 4 en bloc purchases have been successful thus far, and also their incorporated worth come up to $1.5 million which already exceeds the $1 billion integrated total amount of the 3 deals from 2016. The successful handle H1 of this year consist of One Tree Hillside Gardens in area 9, former HUDC estates Rio Casa and Eunosville and also the mixed-use advancement in Bukit Timah, Goh & Goh Building.
Zoned for residential use, the 23,400 sq ft site could possibly produce 65 new home units balancing 750 sq feet each. The area of the site might be the selling factor of the property as it is located near Katong Park MRT terminal as well as Marina South which will prepare by 2023. Marina One Residences location is positioned near the Marina South, is a good option to view. Building experts are expecting developers to proactively opt for this site as the asking cost of $62 million to $65 million is instead cost effective thinking about recent costs land stories have actually been opting for.