Flynn Park sold en bloc for $371mil
Flynn Park at 18-22 Yew Siang Rd has gotten offered by means of en-bloc deal for $Three hundred Seventy One mil to a joint venture linking Hoi Hup Realty and also Sunway Developments.
The price works out to about $1,355 ppr or $1,318 per PR once taking into account the 7 % bonus offer verandas.
Savills Singapore, which dealered the sale, reported the transaction is the largest sized collective transaction plot to have already sold in 2K21.
Offering 72 home units, Flynn Park covers a 2hundred 8thousand 4hundred 43 sq ft free rental site in which is zoned for “Housing” use following the ’19 Master Plan along with a plot ratio of one point four.
Galven Tan, Deputy Managing Dir of Investment Sales and Capital Markets at Savills Singapore, said the tender movement for the building was intensely competed.
” The result is testament to the robust attributes of the location– the special venture to put together an excellent offering at the borderline of the city core and even merely 3hundred 50 m from the train Terminal, yet perfectly near lush also aged nature parks,” he shared.
Wong S.C., Chairperson and Managing Director of Hoi Hup Realty, described Flynn Park as an unusual hill piece.
” It is relaxing, lavish plus environment-friendly, besides relishes vicinity to the Mass Rapid Transit system as well as is minutes to the town. It definitely will at the same time benefit immensely by its adjacency to the brand-new Southern Waterfront enhancement,” he revealed.
” We look forward to generating a premium product on this particular distinct location.”