Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Road has already been retailed over collective sale for $Three hundred Seventy One million to a alliance involving Hoi Hup Realty plus Sunway Developments.
The deal rate calculates to nearly $One thousand Three hundred Fifty Five ppr or $1thousand 3hundred 18 per PR once considering the 7 percentage benefit patios.
Savills S’pore, that dealered the transaction, stated the agreement is the leading collective transaction plot to have already sold off in 2K21.
Featuring 72 condominium units, Flynn Park takes up a 2hundred 8thousand 4hundred 43 sq foot freehold location in which is sectioned for “Housing” use underneath the 2K19 Master Plan with a plot ratio of one point four.
Galven Tan, Deputy Managing Dir of Investment Sales and Capital Markets at Savills Singapore, revealed the tender action for the development was steadily contested.
” The final result is evidence to the strong characteristics of the plot– the one-of-a-kind chance to produce a superior offering at the margin of the town center and even just Three hundred Fifty metre away from the Mass Rapid Transit Terminal, nevertheless appropriately alongside luxurious also aged nature parks,” he said.
Wong S.C., Chairman and MD of Hoi Hup Realty, detailed Flynn Park as a scarce hill area.
” It is relaxing, environment-friendly and lush, likewise delights in closeness to the MRT network and even is mins to the city. It will definitely additionally benefit greatly from its adjacency to the new GSW enhancement,” S.C. revealed.
” We eagerly anticipate establishing an excellent building on this particular extraordinary site.”