Shun Tak acquires High Point for $557mil
Shun Tak Holdings, via its wholly-owned alternate business Shun Tak High Point, has gained Area Nine residence development High Point for $557 million.
The team aims to redevelop the residence– which is its own 5th residence procurement in central S’pore in just 5 years– into a high-class housing property by having building conclusion embeded in 2K27.
Located over the summit of Mount E inside the Orchard Road residence space, the Twenty Two level non commercial property was generally released for collective deal in Oct along with an instruct price of $550 mil. The deal was unaltered created by its prior en bloc quote in ’19.
Finalized in Nineteen Seventy Three, the lease free project inhabits a 47,606 sq ft site that is zoned for Home application under the 2019 Master Plan by having a permitted total PR of 2.8 and also an elevation restraint of until Thirty Six floors.
That it is a small seven mins’ stretch to Orchard Rd train station and even is near multiple conveniences such as Mt Elizabeth Health center, Paragon Medical, SGP Botanic Gardens and also personal clubs Tanglin Club also The American Club.
“Alongside the obtainment in this 5th residence, we shall certainly additionally grow our selection and even grip in SGP and remain to produce high-grade also different components to enrich the lively structure of the city,” pointed out Pansy Ho, Team Executive Chairman and MD of Shun Tak.
She indicated that the triumphant start of their earlier projects, involving Park Nova and Les Maisons Nassim, displayed “Shun Tak’s strength in building top notch non commercial projects with ingenious approaches and creative feels in which suited the requirement of discerning purchasers from the two local and even foreign markets”.