Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Road has already gotten marketed using collective transaction for $371 million to a joint venture in between Hoi Hup Realty as well as Sunway Dvlpmt.
The transaction rate formulates to about $1.355K per PR or $1.318K ppr subsequently including the 7 % perk patios.
Savills S’pore, which represented the sale, mentioned the agreement is the most significant en-bloc transaction plot to have actually offered current yr.
Presenting seventy two home units, Flynn Park occupies a 2hundred 8thousand 4hundred 43 square ft free rental plot in which is zoned for “Housing” use within the 2019 Master Plan with a PR of one point four.
Galven Tan, Asst Managing Director of IS and Capital Markets at Savills SGP, reported the tender activity for the building was intensely competed.
” The result is evidence to the strong aspects of the plot– the one-of-a-kind chance to create a superior building at the perimeter of the metropolis center as well as simply 350m away from the train Station, but right near rich also developed nature parks,” he shared.
Wong Swee Chun, Chairman and Managing Director of Hoi Hup Realty, detailed Flynn Park as a scarce hillside piece.
” It is tranquil, flourishing plus eco-friendly, besides revels in proximity to the MRT connection and also is mins to the city. It is going to at the same time profit greatly by its own proximity to the new GSW expansion,” Wong shared.
” We anticipate establishing a premium building on this extraordinary site.”