Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Rd has already been sold off by means of collective transaction for $Three hundred Seventy One million to a joint venture involving Hoi Hup Realty and Sunway Dvlpmt.
The price works out to approximately $1,355 per plot ratio or $1,318 ppr subsequently taking into consideration the 7 % perk verandas.
Savills Singapore, that dealered the sale, reported the offer is the biggest cumulative transaction site to have marketed current yr.
Presenting seventy two condo units, Flynn Park inhabits a Two hundred and Eight thousand, Four hundred and Forty Three square feet free rental spot in which is zoned for “Housing” utilization underneath the ’19 Master Plan including a PR of one point four.
Galven Tan, Deputy MD of Investment Sales and Capital Markets at Savills S’pore, revealed the tender action for the building was steadily contested.
” The final result is evidence to the robust aspects of the location– the one-of-a-kind option to establish a superior offering at the perimeter of the town center and only Three hundred Fifty m from the train Station, yet perfectly near lush also blossomed nature parks,” he stated.
Wong Swee Chun, Chairman and Managing Dir of Hoi Hup Realty, represented Flynn Park as a scarce hill plot.
” It is peaceful, green and luxurious, likewise takes pleasure in proximity to the train network and also is minutes to the town. It is going to at the same time benefit significantly from its adjacency to the all new Southern Waterfront creation,” Wong revealed.
” We await establishing a superior product on this particular special site.”