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MEYER HOUSE

Freehold | District 15

56 MODERN LUXURY RESIDENCES, EACH WITH IT’S OWN DEDICATED PRIVATE LOBBY AND LIFT
— AN EXCLUSIVE FIRST IN SINGAPORE.

THE RESIDENCES
EXCLUSIVE AND EXQUISITE

MEYER HOUSE is Singapore’s first residential development with a dedicated private lift lobby and direct lift access for every residence. All 4-bedroom and Penthouse units will also have their own exclusive private car park space. An on-site concierge provides convenient assistance with a personal touch.

The interiors bear the signature elegance of Yabu Pushelberg, which has interpreted a new modern luxury for MEYER HOUSE that is curated, expressive and honest. Refinement finds expression in handpicked fittings and quality finishes that are attentive to the daily rituals, and in the harmony of colours, textiles and details that evoke a warm feeling of home.

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Project Info meyer house

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PROJECT : Meyer House
ADDRESS : 128 Meyer Road
TYPE : Luxury Residential Development
# OF UNITS : 56 Luxury Homes
TENURE : Freehold
ELIGIBILITY : All Nationalities
T.O.P DATE : est 2Q 2023
LAND SIZE : Approx 110,000 sqft
DEVELOPER : UOL Group & Kheng Leong
ARCHITECT : WOHA Architects
UNIT MIX : 3 / 4 / PH
WOHA_Architects

WOHA ARCHITECTS

Singapore-based WOHA Architects has earned global recognition for design that integrates environmental and social principles. It is behind some of the most innovative and highly influential projects. Among its most recent accolades, the firm won the prestigious World Building of the Year award at the World Architecture Festival 2018 for Kampung Admiralty.

Ramboll_Studio_Dreiseitl

RAMBOLL STUDIO DREISEITL

Ramboll Studio Dreiseitl is an interdisciplinary creative design unit of Ramboll, a leading engineering, design and consultancy company with more than 37 years of experience in delivering high quality projects in the field of landscape architecture, art & urban design, environmental technology, urban hydrology and master planning.

Yabu_Pushelberg

YABU PUSHELBERG

Yabu Pushelberg is a collaborative practice that forges clearly articulated, meaningful ideas with innovation, purpose, youth and experience. With studios in Toronto and New York, the firm has worked with some of the world’s leading innovators and luxury brands in the retail, hotel and hospitality industries. Encompassing all aspects of design, each project reflects an edited approach that transcends trend.

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Meyer House in the NEWS

Nanak Mansions in Meyer Road sold en bloc for $201.1m

PUBLISHED: The Straits Times

SEP 29, 2017, 5:00 AM Singapore

 

The freehold Nanak Mansions development in upmarket Meyer Road has been bought by an associate of UOL Group in a $201.1 million en bloc deal.

It was the fourth freehold residential site in the Meyer-Amber Roads vicinity to have come on the market this year.

UOL told the Singapore Exchange in a filing yesterday that its 50 per cent-owned associate, Secure Venture Development (No. 1), will redevelop the 10,185 sq m site, which has a gross plot ratio of 1.4.

“Meyer Road is a highly coveted address. Given its rare location right next to a park, we see the opportunity to develop this site into a luxury and spacious project which can be dubbed as our ‘Nassim Residences of the East’,” said UOL deputy group chief executive Liam Wee Sin.

The sale will be funded mainly by bank borrowings and internal resources.

There is also a private road next to the property of about 910 sq m in Jalan Nuri. This is owned by some subsidiary proprietors of the development and their associates.

These owners have been given a put option, which could result in Secure Venture having to acquire the road land at a yet-to-be-determined price if certain conditions are met, said UOL.

Nanak Mansions, a low-rise development completed in the 1980s, comprises 36 maisonettes, each with either four or five bedrooms. It is 400m from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line. The units belong to members and companies of a low-profile Singaporean Indian family, all of whom have consented to sell their units, according to a Business Times report earlier this month. The family developed Nanak Mansions but no family members live there. All 36 units have been rented out.

Mr Karamjit Singh, senior consultant at property consulting group JLL, noted that the site may be redeveloped into a five-storey project with a maximum gross floor area of 153,482 sq ft. This means it can accommodate a maximum of 203 units with an average size of around 700 sq ft in terms of gross floor area.

He said the $201.1 million price tag works out to $1,429 per sq ft per plot ratio (psf ppr), after factoring in development charges payable upon redevelopment. This is not far from the $1,409 psf ppr obtained in July for another property in Meyer Road, The Albracca, a 23,400 sq ft site sold for $69.1 million.

“Meyer Road is easily regarded as the best part of Singapore’s East Coast,” Mr Singh told The Straits Times, adding that this spells good potential especially for an upmarket development. The Nanak Mansions sale was marketed by JLL.

UOL said the acquisition will not have any material effect on the net tangible assets per share or earnings per share of the firm for the financial year ending Dec 31.

Shares of the group closed 0.6 per cent or five cents lower at $8.12, before the announcement was made.

Source The Straits Times
https://www.straitstimes.com/business/companies-markets/nanak-mansions-in-meyer-road-sold-en-bloc-for-2011m

UOL associate to buy Nanak Mansions for S$201.08m

THU, SEP 28, 2017 – 8:34 PM

AN associate company of UOL Group is set to purchase en bloc freehold property Nanak Mansions for S$201.08 million after putting in the winning bid in a tender.

Nanak Mansions, located at 92-128 Meyer Road, occupies an area of about 10,185 square metres. The freehold site, with a gross plot ratio of 1.4 based on 2014 Master Plan, is earmarked for residential development.

The bid from UOL’s associate, Secure Venture Development (No. 1) Pte Ltd, was accepted on Thursday by all the subsidiary proprietors of the units in the development.

Secure Venture Development (No. 1) will pay up 10 per cent of the consideration, including the S$1 million tender fee paid on bid submission, within seven business days from the acceptance of the offer. The other 90 per cent of the purchase consideration will be paid up on legal completion of the deal.

Secure Venture Development (No. 1) is a 50:50 joint-venture (JV) company between UOL Venture Investments Pte Ltd and Kheng Leong Co (Pte) Ltd.

The JV company will re-develop the freehold site acquired and also acquire a private road of about 910 square metres next to the property, if the subsidiary proprietors of Nanak Mansions and their associates exercise a put option.

Kheng Leong Co is considered an associate of several members of the Wee family behind UOL, including UOL’s chairman Wee Cho Yaw, controlling shareholder Wee Ee Cheong, and directors and substantial shareholders Wee Ee-chao and Wee Ee Lim.

Source:
https://www.businesstimes.com.sg/real-estate/uol-associate-to-buy-nanak-mansions-for-s20108m

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