Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, by its wholly-owned branch Shun Tak High Point, has recently gotten Area 9 housing structure High Point for $557 million.
The group aims to redevelop the building– which is its own 5th residence buy in downtown S’pore within five yrs– right into a luxury home project with project completion embeded in 2K27.
Placed over the summit of Mount E inside of the Orchard Rd housing spot, the 22 floor housing property was generally commenced for en-bloc deal in October along with a lead pricing of $Five hundred Fifty mil. The price tag was the same coming from its prior en bloc offer in 2019.
Wrapped up in Nineteen Seventy Three, the free lease project takes up a Forty Seven thousand Six hundred Six square foot spot that is sector for Non commercial utilization beneath the ’19 Master Plan including an allowable gross plot ratio of 2.8 together with a rise cap of as much as 36 storeys.
It is a small 7 minutes’ stretch to Orchard Rd MRT station and is in close proximity to a variety of services offering Mt Elizabeth Medical center, Paragon Health Care, S’pore Botanic Gardens including private clubs Tanglin Club as well as The American Club.
“With the gain with this fifth residence, we will further develop our collection as well as foothold in SGP and go on to introduce high-grade also special details to enhance the zesty structure of the city,” claimed Pansy Ho, Team Executive Chairman and Managing Director of Shun Tak.
She observed that the prosperous launches of their former projects, offering Park Nova also Les Maisons Nassim, displayed “Shun Tak’s core in developing luxurious home properties with innovative techniques and artistic feels in which suited the necessity of perspective buyers from both local as well as international industry”.