Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, by its wholly-owned subsidiary Shun Tak High Point, has actually gotten hold of Area Nine housing property High Point for $Five hundred Fifty Seven mil.
The grp plans to rebuild the residence– which is its fifth residence attainment in central Singapore in just 5 years– into a deluxe non commercial structure with property fulfillment settled in 2027.
Resided over the summit of Mount Elizabeth inside the Orchard Road housing vicinity, the Twenty Two storey household project was generally commenced for en-bloc deal in Oct along with an advise price tag of $5hundred 50 mil. The price tag was consistent out of its prior collective sale proposal in ’19.
Concluded in 1973, the free lease development takes up a 47 thousand 6hundred 6 square foot site in which is sectioned for Household use underneath the 2K19 Master Plan with an allowed total PR of Two point Eight including a peak maximum of up to 36 floors.
That it is a simple 7 mins’ walk to Orchard Road train station and even is in close proximity various services consisting of Mount E Medical facility, Paragon Healthcare, Singapore Botanic Gardens along with nonpublic clubs Tanglin Club as well as The American Club.
“With the obtainment with this 5th residence, we shall in addition widen our collection and also grip in SGP and remain to introduce high-grade plus unique factors to enhance the spirited property of the city,” announced Pansy Ho, Team Exec Chairman plus MD of Shun Tak.
She mentioned in which the successful open of their previous properties, including Park Nova and Les Maisons Nassim, exhibited “Shun Tak’s substance in developing top notch non commercial projects with ingenious designs as well as creative feels that fitted the necessity of perspective customers from either local as well as foreign markets”.
