Flynn Park sold en bloc for $371mil
Flynn Park at 18-22 Yew Siang Rd has already been marketed through collective deal for $3hundred 71 million to a JV amongst Hoi Hup Realty plus Sunway Dvlpmt.
The list price works out to approximately $1.355K per PR or $1,318 per plot ratio once including the seven percentage benefit balconies.
Savills Singapore, that represented the sale, claimed the agreement is the biggest en-bloc transaction site to have actually sold current year.
Featuring seventy two home units, Flynn Park takes up a Two hundred and Eight thousand, Four hundred and Forty Three sq ft freehold plot that is sector for “Residential” application underneath the 2019 Master Plan with a PR of one point four.
Galven Tan, Asst MD of Financial Investment Sales and Capital Markets at Savills S’pore, reported the bidding movement for the building was steadily contested.
” The returns is testimony to the substantial characteristics of the site– the distinct opportunity to establish a premium product at the borderline of the downtown center and simply 350m from the train Station, but perfectly next to lush plus culminated nature parks,” he shared.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, referred to Flynn Park being an unique hill piece.
” It is peaceful, flourishing plus green, besides appreciates vicinity to the MRT network and also is minutes to the town. It will additionally benefit significantly from its own proximity to the brand-new GSW creation,” Wong mentioned.
” We look forward to developing a superior offering on this particular special location.”