Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Road has recently been sold by means of collective sale for $3hundred 71 million to a affiliation linking Hoi Hup Realty as well as Sunway Dvlpmt.
The deal amount calculates to almost $1.355K ppr or $1thousand 3hundred 18 ppr subsequently including the 7 percentage added bonus verandas.
Savills SGP, which brokered the sale, claimed the transaction is the most significant en-bloc deal spot to have actually sold off in ’21.
Presenting seventy two apartment units, Flynn Park fills a 208,443 sq ft freehold location that is zoned for “Residential” utilization underneath the ’19 Master Plan with a plot ratio of one point four.
Galven Tan, Asst Managing Dir of Financial Investment Sales and Capital Markets at Savills Singapore, revealed the bidding exercise for the project was intensely challenged.
” The final result is proof to the robust features of the spot– the special venture to develop a superior offering at the borderline of the downtown center and simply 350m from the Mass Rapid Transit Station, nevertheless best next to lavish also blossomed sanctuary,” he claimed.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, described Flynn Park as an unique hillside land.
” It is soothing, lavish and environment-friendly, yet appreciates distance to the MRT network plus is mins to the city. It will definitely furthermore gain considerably by its own adjacency to the all new Southern Waterfront creation,” S.C. revealed.
” We eagerly anticipate creating a premium building on this one-of-a-kind plot.”