Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Rd has recently been sold over en-bloc transaction for $Three hundred Seventy One million to a alliance in between Hoi Hup Realty and also Sunway Dvlpmt.
The list price calculates to roughly $1,355 per PR or $One thousand Three hundred Eighteen per plot ratio once taking into account the 7 % additional verandas.
Savills SGP, which brokered the transaction, claimed the agreement is the biggest collective sale spot to have already offered current year.
Containing 72 home units, Flynn Park fills a 208,443 square ft free rental site that is zoned for “Housing” usage underneath the ’19 Master Plan with a PR of 1.4.
Galven Tan, Deputy Managing Dir of Investment Sales and Capital Markets at Savills S’pore, announced the bidding activity for the building was actively challenged.
” The result is testament to the secure qualities of the location– the extraordinary possibility to create a superior product at the perimeter of the city centre as well as simply 350m away from the MRT Station, but best beside luxurious and matured sanctuary,” Galven stated.
Wong S.C., Chairperson and MD of Hoi Hup Realty, identified Flynn Park being a scarce hillside area.
” It is relaxing, lush plus environment-friendly, nevertheless delights in distance to the Mass Rapid Transit system and even is minutes to the city. It will certainly similarly gain considerably from its proximity to the upcoming GSW development,” Wong revealed.
” We await putting together a premium building on this specific unique spot.”