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 Park MRT Station. This station is part of the Thomson-East Coast line slated to be ready some time in 2023. As part of the MRT plan, Katong Park Station would be only four stops away from Marina Bay and five stops away from Raffles Place and Shenton Way. Aside from MRT connectivity, residents may also cycle to work in the CBD via the cycling track at the beach, as Singapore transitions into a car-light society. 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.
New Condo at Meyer Road at former site of Albracca- Connectivity
New Condo at former site of Albracca is conveniently located next to the upcoming Katong Park MRT Station (Thomson East Coast Line) which will start operating in 2023. As of now, the current nearest Datoka Circle Line MRT station is just a short drive away from New Condo site (approximately 1.4 km). Set in the prime location, a 7 minutes’ drive will get New Condo at former site of Albracca future residents to the downtown Financial District and Marina Bay New Downtown. New Condo at former site of Albracca's residents can also take an 8 minutes’ drive down to the Orchard Shopping Belt for a weekend shopping spree. The nearby East Coast Parkway (ECP), Kallang Paya Lebar Expressway (KPE) and the Pan Island Expressway (PIE) makes island wide traveling a breeze.
New Condo at Meyer Road at former site of Albracca- Amenities
In terms of accessing to dining, shopping and entertainment facilities, New Condo at former Albracca’s future residents can take a 5 minutes’ drive down to Katong Shopping Centre, The Odeon Katong, Paramount Shopping Complex, Roxy Square, Parkway Parade, 112 Katong and Leisure Park Kallang where useful amenities such as food courts, supermarkets, retail outlets, F&B outlets and departmental stores are located which will bring everyday conveniences in terms of their daily shopping and dining needs.
New Condo at Meyer Road at former site of Albracca- Education
Local school such as Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High School (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Tanjong Katong Technical Secondary School. Broadrick Secondary School and Tanjong Katong Secondary School are also located within 2 km away from New Condo at former site at Albracca.
New Condo at Meyer Road at former site of Albracca- Developer
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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| Project | New Condo at Meyer Road at former site of Albracca |
| Developer | Sustained Land |
| Location | Meyer Road |
| District | 15 |
| Tenure | Freehold |
| Site Area | 2,174 square metres/ 23,400 square feet |
| GFA: | 4,564 square metres/ 49,130 square feet |
| Plot Ratio | 2.1 |
| Expected TOP: | |
| Total Units | Approximately 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
Amenities Near New Condo Launch at Albracca
| Category | Important Amenities Near New Condo at Albracca | Approximate Distance |
| Train Stations | Dakota (CC8) Katong Park (TE24) Thomson East Coast Line Due 2023 |
km 0.2km |
| Bus Stop | CP B1 (Bus: 401) | km |
| Supermarkets | Fairprice (Esso Mountbatten) Cold Storage (Parkway Parade) Giant (82 Marine Parade Central) Sheng Siong (301 Geylang Road) |
km km km km |
| Shopping Malls | Katong Shopping Centre The Odeon Katong Paramount Shopping Complex Roxy Square Parkway Parade I12 Katong Leisure Park Kallang |
km km km km km km km |
| Education Institutions | Preschool | |
| Montessori For Children (Broadrick Campus) Schoolhouse By The Bay PCF Mountbatten Blk 14 PCF Mountbatten Blk 51 Saint Hilda’s Church Kindergarten Kinderland Preschool (Marine Parade) Tung Ling Kindergarten White Lodge Kindergarten (East Coast) Holy Family Kindergarten Chen Li Kindergarten |
km |
|
| Primary | ||
| Tanjong Katong Primary School Kong Hwa School |
km km |
|
| Secondary | ||
| Chung Cheng High School (Main) Dunman High School Northlight School Tanjong Katong Girls’ School Broadrick Secondary School Tanjong Katong Secondary School |
km km km km km km |
|
| Junior College | ||
| Dunman High School | km | |
| Tertiary | ||
| Singapore Management University | km | |
| International | ||
| Canadian International School (Tanjong Katong Campus) Chatsworth International School (East Campus) |
km km |
|
| Food Centre | Jalan Batu Block 4A Market & Food Centre Old Airport Road Block 51 Market & Food Centre Kallang Estate Fresh Market & Food Centre 84 Marine Parade Central Market & Food Centre Dunman Food Centre |
km km km km km |
| Lifestyle | East Coast Park Chinese Swimming Club Singapore Swimming Club The Eurasian Association Kallang Cricket Ground Kallang Netball Centre Kallang Squash & Tennis Centre |
km km km km km km km |
FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE
The Facilities and Site Plan of New Condo in Meyer Road are currently seeking approval from relevant authorities.
If you would like to be updated on first hand information for this upcoming Condo in Meyer Road, at the former site of Albracca.
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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
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.
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.
FORMER SITE OF ALBRACCA AT MEYER ROAD SOLD THROUGH COLLECTIVE SALES
The Albracca condominium in Meyer Road has been sold for $69.12 million in an en bloc deal - the fifth done this year.
The owners had hoped for a price from $62 million to $65 million when the tender opened last month.
So the deal they secured from developer Sustained Land, after several bids were lodged, is up to 11.5 per cent above expectations.
The price works out to $1,409 per sq ft per plot ratio, inclusive of development charges payable to intensify the land use, marketing agent JLL said yesterday.
The freehold development near Tanjong Rhu has apartments from 1,658 sq ft to 3,972 sq ft. So each owner stands to pocket "slightly under $4 million to $7 million plus", said JLL senior consultant Karamjit Singh.
Mr Singh noted yesterday: "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."
The 23,400 sq ft Meyer Road site near the upcoming Katong Park MRT station has an allowable gross plot ratio of 2.1 under the 2014 Master Plan.
It could be redeveloped into a high-rise project, housing 65 apartments with an average size of 70 sq m or about 750 sq ft.
The sale signals that the collective sale market is powering ahead amid more positive buyer sentiment and developer hunger for sites.
Source: Straits Times
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