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[COMPLETED] D15 | Meyer Road - Aalto, Hawaii Tower, Meier Suites, The View @ Meyer, The Belvedere

24K views 94 replies 34 participants last post by  bpestate 
#1 ·
From the 30 Dec 2006 edition of TODAY newspaper.

A 'View' for the new year
By joseph yadao
joseph.yadao@mediacorp.com.sg

IN WHAT is probably the first residential property launch of 2007, GuocoLand is set to ring in the new year with the launch of The View @ Meyer, an exclusive 23-storey freehold luxury development at Meyer Road.

The boutique development, which is expected to be launched early next month, has only 45 units comprising mostly large three and-four-bedroom apartments. Each of these units is served by a private lift.

There are also two penthouses with sky gardens located on the two top floors of the development.

Each unit has a north-south orientation. And just as its name suggests, the development offers its residents views of Katong Park, East Coast Park and the South China Sea to the south. To the north, residents have a poolside view.

GuocoLand is set to host a series of special previews for its local and overseas clients, no doubt encouraged by the response to Marina Bay Residences where units were all sold out even before the official launch date.

However, because it is located about 10 minutes away from the Marina Bay integrated resort (IR), it is not clear whether it can command the price premiums attained by properties that are right on the IR's doorstep.

Market watchers believe GuocoLand is looking at prices averaging $1,500psf, but experts believe that it is simply too high a number.

"I'll be surprised if it reaches that figure, especially since properties in the Meyer Road area are fetching only between $750psf and $850psf," said Mr James Lee, founder and chief executive of James Lee Realty.

In comparison, The Stellar, another GuocoLand freehold condominium project that was launched in early February, averaged $550psf.

GuocoLand has been involved in some high-profile deals over the past year. Its subsidiary, First Capital Asia Land, bought Sophia Court at Addis Road for $230 million in a collective sale.

The developer was also involved in one of Singapore's largest ever en-bloc deals when it paid $280 million for Casa Rosita, a prime freehold condominium in the Newton area.
 
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#3 ·
From the 28 Dec 2006 edition of the The Business Times:


Business Times - 28 Dec 2006

GuocoLand eyes $1,500 psf for Meyer Rd project: sources
Freehold The View @ Meyer with 45 luxurious units may be released in Jan
By KALPANA RASHIWALA

QUEK Leng Chan's Singapore-listed property arm GuocoLand could be eyeing an average price of about $1,500 psf for its freehold boutique development The View @ Meyer, which it is expected to release early next month, according to sources.



This will be a new record for the Meyer Road area - if the price is achieved, say property consultants.

Knight Frank director Nicholas Mak says that units in fairly new projects in the vicinity are changing hands for about $750 psf on average.

However, during the market peak, The Makena at Meyer Road fetched $1,095 psf on average in 1996, while The Sovereign achieved a higher average price of $1,268 psf in 1997, according to caveats lodged.

The highest price achieved for an apartment in the location is said to have been around $1,500 psf for a unit at The Atria in 1997. More recently, a high-floor unit at The Belvedere is said to have changed hands at about $860 psf.

While some market watchers consider $1,500 psf on a project-average basis to be an ambitious price target for The View @ Meyer, others argue it may be achievable after all, reflecting a nearly 25 per cent discount to the $1,950 psf average achieved for Marina Bay Residences earlier this month.

And that was for a 99-year leasehold project, although one in a plum location directly fronting Marina Bay, unlike developments in the Meyer Road location which are still some distance from the sea even if they have unobstructed sea views.

As a property player puts it: 'With current hot demand for waterfront homes, even projects which are not that close to the water, but which have unobscured views of the sea, should generate strong buying interest.

'And don't forget, Meyer Road has always been the prime stretch of the Katong area plus it can now benefit from the 'IR effect', as it's about 10 minutes' drive from the future Marina Bay integrated resort.'

The View @ Meyer will be a 23-storey development on the former Katong Park Hotel site comprising 45 luxuriously fitted units, according to GuocoLand.

The group is now preparing a series of special previews for clients in Singapore and abroad, GuocoLand added.

The project will comprise mostly apartments with three bedrooms (plus a guestroom) and four-bedder units. Two penthouses on the top two floors feature private sky gardens.

'All the 45 apartments command a sweeping southern view of the Katong Park, the East Coast Park or beyond, the South China Sea. Every unit also has a northern view of the swimming pool. Hence the project's name, The View @ Meyer,' GuocoLand said yesterday.

The pricing for The View @ Meyer will be closely watched by other developers in the area. CapitaLand has a condo with about 350 units that it will develop on the First Mansion and Meyer Tower sites. CapitaLand is also expected to launch the project next year.
 
#75 ·
What's the property price now??

The VIew@Meyer just TOP last month and you can see that lots of units already in the market for Sale. Based on the current economy downturn, Do you think they can still sell for the price they are asking?

For those who bought this during the launched with is on the super high side, would it be wise for them to keep it than to sell it now?
 
#16 ·
Update on project.
Apparently project has already sold 25 units internally (these were the better units). Prices were 1000psf for lowest floors to 1800+psf for mid-upper units (i.e. around 20/F).
Fittings look nice (it should be). Though pool/club areas look strange (probably as site is smallish).
 
#25 ·
Strange right?

Why would anyone bother to market a project overseas if they only got like 10 units to sell ?

Imagine all the overheads incurred in selling overseas ... ...

Mr Riady did not predict ... predict is the word reporters use ... they should use the word wishful thinking ...

I also predict that my apartments will go up by 25-40% in 2 years' time ... wishful thinking ... but really hope is will happen ... haha!

YFG ... ...
 
#29 ·
The following is from Channel News Asia website.

Title : GuocoLand's Meyer Road project sets new benchmark price

By :
Date : 17 January 2007 2224 hrs (SST)
URL : http://www.channelnewsasia.com/stories/singaporebusinessnews/view/253099/1/.html

A new residential project at Meyer Road is setting a new benchmark for properties in that area.

According to developer GuocoLand, apartments on the higher floors of its boutique development, The View @ Meyer, have achieved selling prices of close to S$1,700 per square foot.

The average price for other units facing the sea is close to $1,500 per square foot.

This is a price level not seen in the Meyer Road area in almost a decade.

About 80 percent of the 45 units at the development have been sold. - CNA/ch
 
#35 ·
ST : East Coast condo in record sale

ST : East Coast condo in record sale


Jan 18, 2007
East Coast condo in record sale


By Property Correspondent, Joyce Teo


SWEEPING ocean views have helped apartments in a new East Coast development sell for higher-than- expected prices.

Units on the higher floors of The View @ Meyer in Meyer Road sold at close to $1,700 per sq ft (psf), according to the GuocoLand Group, the project developer.

These units offer unobstructed sea views while others with obstructed views went for an average of $1,500 psf. Prices near these levels have not been seen in the Meyer Road area for almost a decade, the group said in a statement.

There are 45 units in the project, of which 35 have been sold on a 'strictly-by- appointment basis' earlier this month, said GuocoLand.

Although the firm marketed The View @ Meyer in Hong Kong last weekend, it said sales have been made mostly to locals. Some units were apparently sold at about $1,100 psf.

A local investor said he was offered a 15th floor unit of the 23-storey project at $1,800 psf and that the developer had offered to absorb the stamp duty.

'Current valuations do not support those kind of prices,' said a market source.

The freehold condominium is on the former Katong Park Hotel site, which GuocoLand bought in 1999 for $554 psf of potential gross floor area.

Other condos in the area are selling for less.

The most recent deal at the nearby freehold The Belvedere was early last month, at $859 psf for a 1,378 sq ft unit. The highest price realised there was a sub-sale deal at $1,015 psf last June.

Guocoland's next project will be out in the third quarter of the year. This will be the Casa Rosita condo site it bought last April for $706 psf of potential gross floor area.
 
#46 ·
ST : East Coast condo in record sale


Jan 18, 2007
East Coast condo in record sale

By Property Correspondent, Joyce Teo

Although the firm marketed The View @ Meyer in Hong Kong last weekend, it said sales have been made mostly to locals. Some units were apparently sold at about $1,100 psf.

A local investor said he was offered a 15th floor unit of the 23-storey project at $1,800 psf and that the developer had offered to absorb the stamp duty.
Looks like journos have been reading these posts! Would like to point out that units higher than 15/F were offered at over 1800+psf at the HK show. Didn't ask about about stamp duty tho!
 
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