Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Rd has already been sold by using collective deal for $371 million to a partnership amongst Hoi Hup Realty as well as Sunway Dvlpmt.
The list price calculates to approximately $1.355K per PR or $1,318 ppr after including the seven percent perk patios.
Savills S’pore, which represented the sale, said the offer is the largest sized cumulative transaction location to have actually marketed current yr.
Offering seventy two condo units, Flynn Park takes up a Two hundred and Eight thousand, Four hundred and Forty Three square foot free lease plot that is sector for “Residential” application within the ’19 Master Plan including a PR of 1.4.
Galven Tan, Assistant MD of Investment Sales and Capital Markets at Savills SGP, revealed the bidding exercise for the project was actively challenged.
” The outcome is testament to the secure features of the location– the unique opportunity to put together an excellent offering at the fringe of the metropolis centre as well as merely 350m from the MRT Station, however ideally next to abundant plus blossomed nature parks,” Galven said.
Wong S.C., Chairperson and Managing Dir of Hoi Hup Realty, described Flynn Park as an unusual hillside plot.
” It is relaxing, eco-friendly and rich, likewise takes joy in closeness to the MRT system furthermore is mins to the city. It definitely will in addition reward immensely by its proximity to the brand-new Southern Waterfront expansion,” S.C. stated.
” We anticipate generating a premium building on this specific unique plot.”