Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Road has recently been marketed over en-bloc deal for $Three hundred Seventy One mil to a JV between Hoi Hup Realty and also Sunway Dvlpmt.
The sale value works out to nearly $1,355 ppr or $1.318K per plot ratio upon including the 7 percent additional balconies.
Savills SGP, which agented the sale, mentioned the agreement is the largest sized en-bloc transaction plot to have actually sold off in ’21.
Containing 72 residence units, Flynn Park takes up a 208,443 sq foot freehold site in which is sector for “Non commercial” application within the ’19 Master Plan with a PR of one point four.
Galven Tan, Deputy MD of IS and Capital Markets at Savills Singapore, said the tender action for the property was actively contested.
” The result is proof to the solid attributes of the site– the unique opportunity to generate a superior building at the perimeter of the city centre and just 350 meter away from the Mass Rapid Transit Terminal, on the other hand best near lush and culminated sanctuary,” Galven mentioned.
Wong S.C., Chairman and MD of Hoi Hup Realty, characterized Flynn Park as an uncommon hillside plot.
” It is peaceful, environment-friendly and flourishing, likewise delights in proximity to the Mass Rapid Transit connection also is mins to the city. It is going to likewise gain immensely by its proximity to the all new Southern Waterfront enhancement,” he announced.
” We expect producing a superior offering on this distinct location.”