Flynn Park sold en bloc for $371mil
Flynn Park at 18-22 Yew Siang Road has already been sold by using collective sale for $371 mil to a alliance amongst Hoi Hup Realty and also Sunway Dvlpmt.
The list price calculates to about $1,355 per PR or $One thousand Three hundred Eighteen ppr upon taking into account the 7 percent incentive balconies.
Savills Singapore, which dealered the transaction, claimed the deal is the largest sized cumulative transaction spot to have actually sold in 2021.
Accentuating 72 house units, Flynn Park fills a 2hundred 8thousand 4hundred 43 sq feet freehold location that is sector for “Housing” application within the 2019 Master Plan including a plot ratio of 1.4.
Galven Tan, Asst Managing Dir of Investment Sales and Capital Markets at Savills S’pore, stated the tender exercise for the building was actively challenged.
” The returns is testament to the sturdy characteristics of the site– the unique opportunity to create a superior building at the margin of the downtown center as well as at most 350 m away from the train Station, but ideally beside flourishing also developed sanctuary,” he stated.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, summarized Flynn Park being a rare hill area.
” It is soothing, green and lavish, besides delights in closeness to the Mass Rapid Transit network and even is mins to the city. It will definitely in addition reward immensely by its own proximity to the upcoming GSW creation,” he said.
” We expect generating a superior product on this special plot.”