Flynn Park sold en bloc for $371mil
Flynn Park at 18-22 Yew Siang Road has already gotten transacted by using en-bloc sale for $Three hundred Seventy One million to a affiliation between Hoi Hup Realty as well as Sunway Developments.
The list price calculates to nearly $1.355K per plot ratio or $1.318K per PR subsequently considering the seven percentage incentive balconies.
Savills SGP, that agented the transaction, revealed the transaction is the most significant en-bloc deal spot to have actually sold off current yr.
Containing 72 condo units, Flynn Park takes up a 208,443 sq ft free rental location in which is zoned for “Housing” application underneath the 2019 Master Plan by having a plot ratio of one point four.
Galven Tan, Deputy MD of Investment Sales and Capital Markets at Savills Singapore, mentioned the tender movement for the property was steadily competed.
” The outcome is testament to the sturdy characteristics of the plot– the special option to produce a superior product at the borderline of the city centre as well as at most 350m from the MRT Terminal, on the other hand best next to rich also developed sanctuary,” Galven claimed.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, described Flynn Park being an uncommon hill piece.
” It is tranquil, eco-friendly plus luxurious, yet relishes distance to the MRT network and is minutes to the town. It is going to equally reward strongly by its adjacency to the latest Southern Waterfront development,” he claimed.
” We await developing an excellent product on this particular unique site.”