Casa Meyfort sold for $319.88m after second en bloc sale attempt
GuocoLand bought the property.
GuocoLand subsidiary First Meyer Development won the tender for the en bloc sale of Casa Meyfort and bought the property for $319.88m. The owners previously attempted an en bloc sale on December 2017 at a reserve price of $340m.
The development was completed in the 1990s and comprises 76 apartment units. It has a land area of approximately 7,919.9 sqm or 85,249 sqft. Under Master Plan 2014, the site is zoned for residential use with a gross plot ratio (GPR) of 2.8.
Casa Meyfort is located within 600 metres to the upcoming Katong Park MRT station along the Thomson-East Coast Line (TEL). It is near major roads and expressways such as Fort Road, Mountbatten Road, and Tanjong Katong Road. The project is a 10 minutes' drive to the Central Business District (CBD) and a short walking distance to East Coast Park.
GuocoLand said the acquisition and development of the property will be financed by internal resources and bank borrowings.