Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Road has recently been sold over collective sale for $Three hundred Seventy One mil to a joint venture linking Hoi Hup Realty and Sunway Dvlpmt.
The price works out to about $1,355 per plot ratio or $1.318K ppr since taking into consideration the seven % perk balconies.
Savills Singapore, which dealered the deal, reported the deal is the largest cumulative transaction site to have marketed in 2K21.
Featuring seventy two house units, Flynn Park takes up a 2hundred 8thousand 4hundred 43 square ft freehold spot that is sectioned for “Residential” application underneath the 2019 Master Plan including a plot ratio of 1.4.
Galven Tan, Asst Managing Director of Investment Sales and Capital Markets at Savills S’pore, mentioned the bidding action for the project was keenly challenged.
” The outcome is testimony to the strong aspects of the spot– the special option to generate a premium offering at the borderline of the town center and just 350m from the MRT Terminal, but perfectly close to rich plus developed sanctuary,” Galven said.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, illustrated Flynn Park being an unusual hillside area.
” It is soothing, eco-friendly plus lush, nevertheless savors closeness to the MRT network and even is minutes to the town. It will definitely furthermore benefit significantly by its adjacency to the all new Southern Waterfront development,” S.C. mentioned.
” We look forward to producing a premium building on this specific special location.”