Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, using its wholly-owned branch Shun Tak High Point, has gained Area 9 non commercial structure High Point for $557 million.
The group wants to redevelop the building– that is its fifth real estate obtainment in city SGP within five yrs– into a high-class housing project with property wrap-up scheduled in 2K27.
Resided on the summit of Mt Elizabeth inside of the Orchard Rd non commercial neighborhood, the 22 floor residence project was introduced for collective deal in October by having an advise rate of $550 million. The value was unchanged from its past en-bloc bid in 2K19.
Fulfilled in Nineteen Seventy Three, the lease free project covers a 47,606 sq ft location in which is zoned for Household usage within the 2019 Master Plan with an allowable total PR of Two point Eight including an altitude limitation of up to Thirty Six levels.
It is an only 7 mins’ stretch to Orchard Rd Mass Rapid Transit terminal and is in close proximity to various conveniences featuring Mt E Healthcare facility, Paragon Medical, S’pore Botanic Gardens and also nonpublic clubs Tanglin Club also The American Club.
“By having the gain of this 5th building, we shall in addition broaden our profile and grip in SGP and push on to produce excellent and one-of-a-kind features to cultivate the zesty project of the place,” mentioned Pansy Ho, Team Exec Chairman and Managing Director of Shun Tak.
She noted in which the triumphant start of their past properties, consisting of Park Nova and Les Maisons Nassim, demonstrated “Shun Tak’s core in creating luxurious home properties with ingenious approaches as well as artistic feels in which well-matched the necessity of refined homebuyers from all local along with global markets”.