Shun Tak acquires High Point for $557mil
Shun Tak Holdings, through its 100% owned secondary company Shun Tak High Point, has recently gained Area 9 non commercial project High Point for $Five hundred Fifty Seven million.
The grp plans to reconstruct the property– that is its own fifth residential property attainment in city SGP within five yrs– into a privilege home development with project completion embeded in 2027.
Seated over the height of Mount E inside the Orchard Rd home space, the 22 storey housing property was generally launched for en bloc transaction in October along with an advise pricing of $Five hundred Fifty mil. The price tag was unaltered out of its prior collective sale proposal in 2019.
Fulfilled in 1973, the rental free development covers a 47 thousand 6hundred 6 sq ft spot in which is sectioned for Non commercial application underneath the ’19 Master Plan by having an allowable entire plot ratio of 2.8 as well as an altitude cap of approximately Thirty Six floors.
That it is a mere 7 mins’ walk to Orchard Rd Mass Rapid Transit station and also is near a range of conveniences consisting of Mount Elizabeth Hospital, Paragon Health Care, S’pore Botanic Gardens and even private clubs Tanglin Club also TAC.
“By having the purchase in this 5th building, we will further broaden our collection also foothold in SGP and press on to deliver top-quality plus unique aspects to enrich the vivid structure of the city,” reported Pansy Ho, Team Executive Chairman and MD of Shun Tak.
She observed in which the triumphant commence of their earlier properties, involving Park Nova also Les Maisons Nassim, displayed “Shun Tak’s substance in building luxurious residential properties with cutting-edge strategies and artistic touches in which well-matched the necessity of refined home buyers from all local also global sector”.