Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, through its wholly-owned alternate company Shun Tak High Point, has actually gained Area Nine housing property High Point for $Five hundred Fifty Seven mil.
The group intends to redevelop the property– which is its own 5th building gain in city SGP in just five years– toward a privilege home development for building conclusion put in 2K27.
Located on the top of Mount Elizabeth within the Orchard Road residential space, the 22 floor household development got commenced for en-bloc deal in October along with an instruct deal of $550 million. The deal was unchanged from its earlier en bloc offer in 2K19.
Finalized in Nineteen Seventy Three, the freehold structure occupies a 47,606 square foot site in which is zoned for Residential application underneath the 2K19 Master Plan including an allowable gross PR of 2.8 together with an elevation limitation of approximately 36 storeys.
That it is a small 7 mins’ stroll to Orchard Road train station furthermore is close a range of amenities including Mount E Medical center, Paragon Medical, Singapore Botanic Gardens in addition to nonpublic clubs Tanglin Club plus The American Club.
“Alongside the purchase of this particular 5th residence, we shall certainly even more stretch our collection and also position in S’pore and continue to introduce premier plus special elements to cultivate the vivid structure of the city,” revealed Pansy Ho, Team Exec Chairman plus Managing Dir of Shun Tak.
She mentioned in which the successful launches of their past projects, including Park Nova and Les Maisons Nassim, displayed “Shun Tak’s power in establishing luxurious household properties with innovative concepts as well as inventive touches that fitted the request of tasteful buyers from all local as well as world-wide industry”.