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A Successful En-Bloc in Albracca

Brought to You by Sustained Land

Standing next to Katong MRT Station

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PROJECT DETAILS

 
 

The Albracca, a 10-storey private residential development along Meyer Road, has been successfully sold in its first attempt at a collective sale to Sustained Land for S$69.1 million. This works out to about S$1,409 per sq ft per plot ratio inclusive of development charges to intensify the land use. The freehold development near Tanjong Rhu has apartments from 1,658 sq ft to 3,972 sq ft and each owner stands to pocket slightly under $4 million to $7 million plus.


The Albracca is located at the corner of Meyer Road and Meyer Place, at the door-steps of upcoming Katong MRT Station. Under the 2014 Master Plan, the 23,400 sq ft site is zoned “Residential” and has a permissible gross plot ratio of 2.1. It cound be redeveloped into a high-rise project, housing 65 residential apartments. 18 to 24 floors, subject to techinical heigh contrals imposed by the government.  The Meyer Road area is widely regarded as a prime location outside the Core Central Region and is popular among high-net-worth buyers. And sites in the area are rarely available for sale. near the upcoming Katong Park MRT station. Residents have ease of a MRT Train at their door steps and towards Changi Airport and It is


2 MRT Stops to Gardens by the Bay
4 MRT Stops to Marina Bay
5 MRT Stops to Shenton Way


Sustained Land is a reputable Property Developer that has build its name over the years from the past projects that they had delivered with quality and value for money services. Over the years, Sustained Land continue to grow from strength to strength to push over the boundaries for excellence, distinctive and luxury high end lifestyle living. They pride themself on developing iconic developments with blending form and functionaliy that is innovative and well designed. Going forward, Sustained Land continue their strive to be the one of the most preferred Property Developer by delivery innovation, value for money services and quality finishes that many families deserved. Some of the past projects includes 833 MB Residences, Suites De Laurel, 38 iSuites, Tivoli Grande, Sturdee Residences.


There is an increasing convergence of views among developers that the down cycle, which lasted over four years, has turned a corner, and that it’s time to be back. 

 

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First Hand Information

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Invest in Central Region
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Downpayment starts fr S$160,000 only
 
 
 
Project  Meyer Road New Condo at Former Albracca Site
Developer  Sustained Land
Location  Meyer Road
District  15
Tenure  Freehold
Site Area   2,173.9 square metres/ 23,400 square feet
GFA:
Plot Ratio  2.1
Expected TOP:
Total Units  Approximatley 65 residential apartments
Total Carpark
Development  Condo comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy

LOCATION and AMENITIES

Albracca

FACILITIES and SITE PLAN

The Facilities and Site Plan of New Condo in Meyer Road are currently seeking approval from relevant authorities.

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RESIDENTIAL FLOOR PLANS

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THOMSON EAST COAST MRT LINE TO BE COMPLETED IN 2024

On August 15, 2014, the LTA announced that the southern end of the Thomson Line which serves the North South corridor will be extended eastwords to form the new TEL MRT line. In Singapore, the proximity to an MRT station helps to sell properties. The 13km East coast stretch will bring MRT travel to areas not currently served by the MRT system and increased connectivity to the East will be brought about by a 2.2km, 2-station extension of the Downtown Line (DTL) to join DTL To TEL. Here are some points about TEL:

  • Consists of the 22 station Thomson Line along the N-S corridor and the 9 station Eastern Region Line
  • Seamless connection from Woodlands in the North to the East Coast
  • Fully underground
  • Benefits of sscale, operational efficiency and common systems and trains
  • Total Length 43km
  • Total cost of S$24 billion, 6.8 billion for the Eastern Region Line
  • Total of 31 stations
  • Scale similar to N-S line and Downtown line
  • 7 private properties acquired
  • 7 interchanges 
  • Expected traffic - 500k passengers daily, increasing over time to 1mil daily
  • Alternative to E-W line for some commuters
  • Eastern end of the DL line to be linked up to TEL with the addition of 2 new stations
    • Downtown Line 3 extension (DTL3e) - 2.2km
    • Access to Changi Business Park and Expo areas
  • Travelling time saved (now served by MRT or MRT+Bus):
    • East coast to Orchard, 45mins instead of 75mins, saving 30mins
    • Woodlands to Marine parade, 1 hr, currently not possible by MRT, 80mins by bus
    • Marine parade to Shenton Way, 20mins instead of 40mins, 20mins saving
    • Marine parade to Jurong East, 50mins (via TEL, EWL) instead of 65mins, save 15mins
    • Upper East Coast to Ang Mo Kio, 45mins instead of 60min, save 15mins
  • New combined MRT and bus depot to be built next to the existing Changi Depot
    • Capacity for 220 trains from TEL, E-W and DTL lines and 550 buses
    • 36-hectares, multistorey
    • Combining and having several storeys saves 44 hectares
    • Existing depot to be demolished
  • East Region Line
    • 16km long
    • Serves new areas such as Siglap, Marine Parade, Upper East Coast and Bedok South
    • Construction of the Eastern Region Line to start in 2016.
    • First 7 stations - Tanjong Rhu to Bayshore - to be ready by 2023.
    • Last 2 stations of the Eastern Region Line - Bedok South and Sungei Bedok to Tanjong Rhu to be ready by 2024
    • Singapore's first underground bicycle parks
      • Marine Parade, Marine Terrace, Bayshore and Sungei Bedok Stations
      • More bicycle parts at all future stations

 Quick Milestones:

  • 2019 - 3 stations on the NEL line gets connected to the N-S Line at Woodlands MRT
  • 2020 - 6 new stations from Springleaf to Caldecott open
  • 2021 - 13 new stations from Mount Pleasant to Gardens by the Bay give direction access to the CBD, Marina Bay and Gardens By The Bay from the Woodlands
  • 2023 - 7 stations on the East Coast stretch open new access to the East Coast area currently not served by any MRT line
  • 2024 -  last 2 stations on the East Coast stretch connect to the DTL3e extenstion at Sungei Bedok and will relieve some pressure on the E-W line.

THOMSON EAST COAST LINE TEL

Thomson-East-Coast-Line

The Thomson-East Coast Line (TEL) is a joint line between the Thomson Line and the Eastern Region Line.

The 43km TEL will add 31 new stations to the existing rail network, with 7 interchange stations, which will link to the East-West Line, North-South Line, North-East Line, Circle Line and the Downtown Line.

The 13km eastern stretch will run through the neighbourhoods of Tanjong Rhu, Katong Park, Amber, Marine Parade, Marine Terrace, Siglap, Bayshore, Bedok South and Sungei Bedok. The first seven stations, from Tanjong Rhu to Bayshore, will be ready in 2023. The stations in Bedok South and Sungei Bedok will be ready in 2024.

MRT Lines

When the 43km-long TEL is completed in 2024, a trip from East Coast Park to Orchard is expected to take just 45 minutes, compared to 75 minutes. Commuters travelling from Marine Parade to the Central Business District will halve their travel time from 40 minutes to 20 minutes.

The TEL will also connect with the upcoming Downtown Line which will have a new extension consisting of the Xilin station and the Sungei Bedok interchange station. This is to improve public transport accessibility to the Changi Business Park and Expo areas, he said.

The 31 stations of the TEL are expected to serve about half a million commuters daily in the initial years and twice that in the long term. To make way for the construction of the eastern stretch of the line however, six landed properties along Amber Road and a three-storey apartment along Tanjong Katong Road will be acquired.

The world's first four-in-one train and bus depot will also be built with the TEL. It will house buses and trains for the TEL, East-West Line and Downtown Line. The 36ha depot can house about 220 trains and 550 buses and integrating the depot for both buses and trains will help to save close to 60 football fields of land space.

SUSTAINED LAND WON TOP BID FOR FORMER SITE OF ALBRACCA CONDO NEXT TO TANJONG KATONG MRT STATION

SINGAPORE — The Albracca, a 10-storey residential development along Meyer Road, has been successfully sold in its first attempt at a collective sale to Sustained Land for S$69.1 million, sole marketing agent JLL said on Thursday (July 20).

The launch last month of the tender exercise for the 11-unit strata-titled development located at a prominent corner of Meyer Road and Meyer Place came shortly after four collective sales were successfully concluded in May, surpassing the total number of en bloc deals completed in 2016.

“The Albracca’s tender response was strong with over a dozen bids received from developers of all sizes – from large to boutique developers, contractors and a fund manager,” said Mr Karamjit Singh, Senior Consultant at JLL.

“Clearly, there is an increasing convergence of views among developers that the down cycle, which lasted over four years, has turned a corner, and that it’s time to be back. Sentiments in the residential market have also been buoyed by the strength of the stock market this year, which tends to run ahead of property markets. As for en bloc sellers, this also comes as a relief as many have been waiting for such an opportunity for years,” he added.

The price of 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, JLL said.

The Meyer Road area has always appealed to well-heeled and high-income homebuyers as it is considered as arguably the most prime location outside the Core Central Region, with a strong following among both local and expatriate communities, JLL said.

“The appeal of The Albracca was strong with multiple boxes ticked in its favour. It has an MRT station being built on its doorstep. The high-rise development that may be built on site should be able to enjoy unblocked views across Katong Park and the sea. It is located in a much sought-after Meyer Road precinct, which is close to the CBD, amenities and the airport,” said Mr Singh.

Under the 2014 Master Plan, the 23,400 sq ft site is zoned ‘Residential’ with an allowable gross plot ratio of 2.1. The Albracca may be redeveloped to accommodate a high-rise apartment development of about 18 to 24 storeys, depending on the technical height controls imposed by some 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 sq ft, JLL said.

Source: Today On Line

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