Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Rd has actually been sold through en-bloc transaction for $371 million to a JV between Hoi Hup Realty plus Sunway Dvlpmt.
The list price calculates to about $One thousand Three hundred Fifty Five per PR or $1thousand 3hundred 18 per plot ratio subsequently taking into consideration the seven percent perk balconies.
Savills SGP, which serviced the sale, stated the agreement is the leading en-bloc transaction spot to have actually sold off this year.
Offering seventy two condominium units, Flynn Park occupies a Two hundred and Eight thousand, Four hundred and Forty Three square ft freehold location in which is sector for “Non commercial” application following the ’19 Master Plan with a PR of one point four.
Galven Tan, Deputy MD of IS and Capital Markets at Savills Singapore, claimed the tender movement for the project was intensely challenged.
” The final result is testament to the substantial characteristics of the location– the distinct opportunity to establish a superior product at the borderline of the metropolis core and just 3hundred 50 metre from the MRT Terminal, but right close to rich also aged sanctuary,” he announced.
Wong S.C., Chairperson and MD of Hoi Hup Realty, described Flynn Park as an unusual hill land.
” It is serene, lush and green, yet relishes proximity to the Mass Rapid Transit network and is mins to the city. It will furthermore profit considerably by its adjacency to the all-new Southern Waterfront creation,” S.C. said.
” We await creating a superior offering on this distinct site.”