Shun Tak acquires High Point for $557mil
Shun Tak Holdings, using its 100% owned subsidiary Shun Tak High Point, has recently acquired Area 9 household property High Point for $Five hundred Fifty Seven million.
The grp wants to redevelop the building– that is its fifth property buy in central Singapore in just 5 yrs– toward a high-class home structure with project finalization settled in 2K27.
Placed over the height of Mount E inside of the Orchard Road home space, the Twenty Two floor housing structure was generally started for en bloc sale in October by having an advise price tag of $550 mil. The price was unmodified created by its previously collective sale attempt in ’19.
Settled in Nineteen Seventy Three, the lease free property inhabits a 47,606 square feet plot that is sector for Residential utilization under the ’19 Master Plan with an allowable gross plot ratio of 2.8 plus a peak restriction of as high as 36 storeys.
It is an only 7 minutes’ stroll to Orchard Rd Mass Rapid Transit terminal and is close-by different features including Mt Elizabeth Health center, Paragon Health Care, Singapore Botanic Gardens along with nonpublic clubs TC and also TAC.
“Alongside the obtainment of this fifth real estate, we shall certainly even further expand our collection and grip in S’pore and remain to generate top-quality and one-of-a-kind components to enrich the spirited structure of the city,” reported Pansy Ho, Grp Executive Chairman also Managing Dir of Shun Tak.
She observed in which the successful release of their past properties, consisting of Park Nova and Les Maisons Nassim, proved “Shun Tak’s substance in creating premium household properties with cutting-edge approaches as well as innovative touches that fitted the need of tasteful buyers from the two local furthermore worldwide industry”.