Flynn Park sold en bloc for $371mil
Flynn Park at 18-22 Yew Siang Rd has recently gotten retailed through en-bloc transaction for $371 million to a alliance amongst Hoi Hup Realty and Sunway Dvlpmt.
The price works out to almost $1thousand 3hundred 55 per PR or $1.318K ppr upon considering the seven % additional verandas.
Savills Singapore, that represented the transaction, shared the agreement is the most significant cumulative sale spot to have actually sold in 2K21.
Offering 72 condominium units, Flynn Park covers a 208,443 sq foot free rental plot in which is zoned for “Residential” utilization following the 2019 Master Plan by having a PR of one point four.
Galven Tan, Asst MD of Financial Investment Sales and Capital Markets at Savills Singapore, claimed the bidding movement for the project was actively competed.
” The outcome is proof to the secure characteristics of the plot– the one-of-a-kind possibility to develop a superior offering at the margin of the city core furthermore just 350m from the MRT Station, nevertheless appropriately near abundant plus aged nature parks,” Galven mentioned.
Wong S.C., Chairman and MD of Hoi Hup Realty, referred to Flynn Park being an uncommon hill area.
” It is soothing, green and flourishing, nevertheless takes pleasure in distance to the Mass Rapid Transit connection furthermore is mins to the city. It will definitely also gain considerably by its own adjacency to the latest Southern Waterfront development,” Wong stated.
” We look forward to developing a superior building on this particular extraordinary site.”