Flynn Park sold en bloc for $371mil
Flynn Park at 18-22 Yew Siang Rd has already gotten transacted by using en-bloc sale for $3hundred 71 million to a partnership involving Hoi Hup Realty as well as Sunway Developments.
The sale rate works out to nearly $1,355 per PR or $One thousand Three hundred Eighteen per PR since considering the seven percent reward verandas.
Savills Singapore, which serviced the sale, claimed the deal is the leading cumulative deal plot to have already sold off in 2021.
Offering 72 residence units, Flynn Park fills a 2hundred 8thousand 4hundred 43 sq foot free lease site in which is sector for “Housing” use within the 2K19 Master Plan along with a PR of 1.4.
Galven Tan, Asst MD of IS and Capital Markets at Savills Singapore, claimed the tender action for the property was eagerly challenged.
” The result is testimony to the strong characteristics of the site– the unique chance to create a premium building at the fringe of the city center furthermore merely 350 meter from the Mass Rapid Transit Station, but best alongside abundant and aged nature parks,” he announced.
Wong Swee Chun, Chairman and Managing Director of Hoi Hup Realty, illustrated Flynn Park being a rare hillside piece.
” It is serene, lush plus green, likewise takes pleasure in closeness to the train connection and also is mins to the town. It will definitely likewise reward significantly by its own proximity to the new Southern Waterfront project,” Wong announced.
” We expect creating an excellent building on this particular special location.”