Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Road has actually gotten offered over collective sale for $3hundred 71 mil to a joint venture amongst Hoi Hup Realty and Sunway Developments.
The price calculates to almost $One thousand Three hundred Fifty Five per plot ratio or $1,318 ppr once including the 7 % bonus patios.
Savills SGP, which brokered the deal, reported the deal is the most significant en-bloc transaction spot to have recently retailed in ’21.
Containing 72 residence units, Flynn Park fills a 208thousand 4hundred 43 sq ft free lease spot that is sectioned for “Non commercial” use under the 2019 Master Plan by having a PR of one point four.
Galven Tan, Deputy Managing Director of Financial Investment Sales and Capital Markets at Savills S’pore, claimed the bidding activity for the building was eagerly challenged.
” The final result is testament to the sturdy characteristics of the plot– the one-of-a-kind possibility to produce an excellent product at the margin of the town core and just 350m away from the train Station, but ideally next to luxurious also blossomed sanctuary,” he shared.
Wong Swee Chun, Chairman and Managing Director of Hoi Hup Realty, portrayed Flynn Park as a scarce hill piece.
” It is serene, environment-friendly plus luxurious, yet takes joy in proximity to the MRT connection and also is mins to the city. It will at the same time profit significantly by its adjacency to the new GSW enhancement,” he stated.
” We eagerly anticipate developing a superior offering on this specific unique spot.”