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Summary of latest One Meyer Condo Review

This is the digest based on the latest review of One Meyer condominium by newlaunchguru.sg.

The much desired new condo of Q1/2019 has finally arrived! Introducing One Meyer, a super rare luxury freehold condo project situated right in the center of East Coast (Meyer Road) in District 15, one of the most prestigious and upmarket districts in Singapore. In addition, this new launch is also one of the few condos in the area where residents can have vantage sea view without the traffic noise coming from ECP, because of the Katong Park in front.


According to JLL who participated in the purchase of One Meyer, this was the 1st time the residential property was offered for bid. This attractive land obtained bids from more than 12 property developers ranging from small to big firms. Several factors may have led to the high number of bidders. First, One Meyer is well located next to the future Katong Park MRT set to be operational in 2023 which is part of the Thomson East Coast line. Next, the site has a seafront and terrific clear view of the Katong Park, just 5-stop away from CBD. This will allow the future residents of One Meyer, e.g., cyclist, to go to the CBD via the cycling track of the beach. Sustained Land Ltd successfully won the bid with the price of S$69.1 million. (Under|According to|Based on} URA Master Plan, One Meyer site occupies 23,400 sq ft with an allowable GPR of 2.1, and its land rate is calculated to be around S$1,409 when the development charges are factored. Sustained Land wants to re-develop the 10-storey high One Meyer into an 18-24 storey high enough for up to 65 units each having an average size of 753.5 sq ft. The GPR will increase from the current 2.09 to 2.1. However, their development plan is subject to approval by the authorities in charge of height control.


 

One Meyer is located at the junction of Meyer Place and Meyer Road in Katong, an area exclusive to private condominiums. You can get to One Meyer via a variety of transport options, be it public or private. Long travelling time by bus to other parts of Singapore will be shortened with the operation of Thomson-East Coast Line in year 2023. At that time, Katong Park MRT is next to One Meyer condominium. Driving to many places of interest in Singapore is also pretty fast with Singapore Sports Hub below 7-min and CBD/Changi Airport no more than 15 minutes via highway. While 23,400 sq ft is not a big condo project, One Meyer provides exclusivity and privacy. This single block condo featuring a glass-facade appearance will definitely be the stunning jewel in Mayer Road. With reference to price list of 2-bedrooms, One Meyer is considered a good buy if launch price is about S$2300-S$2400 according to competitive market analysis. Seaside Residences, a 99 year leasehold project, transacted at average of S$1900psf, is located in the opposite end of East Coast.

 

Talking about shortfalls - as a small condominium means One Meyer will not provide so many varieties of facilities that other bigger projects provide, like The Belvedere and The Waterside nearby.

Check out One Meyer news at TODAY

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