The Albracca sold collectively for $69m

Romesh Navaratnarajah21 Jul 2017

The Albracca JLL

The 10-storey apartment at Meyer Road was completed in 1990 and comprises 11 units. (Photo: JLL)

The Albracca apartment at Meyer Road has been sold in a collective sale to property developer Sustained Land for $69.119 million, revealed marketing agent JLL.

The price works out to $1,409 psf per plot ratio inclusive of development charges, and is higher than the owners’ guide price of $62 million to $65 million during the tender which closed on Thursday (20 July).

Completed in 1990, the 10-storey strata-titled development comprises 11 apartments. This is the first time that the property was offered for sale collectively, with more than 80 percent of the owners consenting to the deal.

SEE ALSO: Why the hype around properties with en-bloc potential?

“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,” said Karamjit Singh, Senior Consultant at JLL. 

He added: “Clearly, there is an increasing convergence of views amongst developers that the down cycle, which lasted over four years, has turned a corner, and that it’s time to be back.”

The 23,400 sq ft site is zoned residential with an allowable gross plot ratio of 2.1. It could be redeveloped into an 18 to 24-storey apartment, depending on height restrictions imposed by the government.

Sustained Land could potentially configure the allowable gross floor area of 49,130 sq ft into a maximum of 65 units with an average size of 753 sq ft.

The future Katong Park MRT station on the Thomson-East Coast line is right at its doorstep, while Katong Park and the sea are also nearby.


Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email


You may also like these articles

Eye on Katong: Rich in heritage and more

Katong developed into a residential suburb by the early 20th century and it continues to be a favoured residential location as Muneerah Bee learns. Nestled in District 15, Katong is known for many

Continue Reading17 Feb 2015

Over 12,000 new homes may rise in East Coast

Around 6,000 HDB flats could be built in the East Coast in future, offering sea views. (Photo: Eustaquio Santimano, Flickr) The authorities are considering building a new Bayshore district, with mo

Continue Reading19 Jan 2017

The Albracca at Meyer Road up for en-bloc sale

The owners are expecting offers in the range of $62 million to $65 million. (Photo: JLL)An en-bloc tender exercise has been launched for The Albracca, a 10-storey apartment along Meyer Road which was

Continue Reading14 Jun 2017