Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Rd has gotten sold over collective transaction for $Three hundred Seventy One million to a partnership amongst Hoi Hup Realty as well as Sunway Dvlpmt.
The list price formulates to roughly $1,355 per PR or $1,318 ppr once including the seven % incentive patios.
Savills Singapore, which brokered the sale, stated the deal is the biggest en-bloc sale site to have recently sold this yr.
Presenting seventy two house units, Flynn Park inhabits a 2hundred 8thousand 4hundred 43 square feet freehold plot in which is sectioned for “Residential” application under the 2019 Master Plan along with a plot ratio of 1.4.
Galven Tan, Asst Managing Director of Financial Investment Sales and Capital Markets at Savills S’pore, revealed the tender exercise for the development was intensely contested.
” The final result is testament to the robust qualities of the spot– the distinct option to establish a premium offering at the edge of the city center and even simply 350m away from the MRT Station, nevertheless appropriately beside flourishing plus blossomed sanctuary,” Galven claimed.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, identified Flynn Park as an uncommon hill area.
” It is soothing, abundant plus green, yet appreciates vicinity to the train network also is minutes to the town. It is going to equally reward greatly by its adjacency to the all new Southern Waterfront expansion,” Wong mentioned.
” We anticipate producing an excellent product on this particular unique spot.”