Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Road has gotten sold off by means of collective transaction for $371 million to a joint venture between Hoi Hup Realty as well as Sunway Developments.
The list price formulates to nearly $1thousand 3hundred 55 ppr or $One thousand Three hundred Eighteen per PR upon taking into account the seven percent bonus balconies.
Savills SGP, that brokered the deal, mentioned the deal is the largest cumulative sale plot to have already marketed this yr.
Featuring seventy two apartment units, Flynn Park takes up a 2hundred 8thousand 4hundred 43 sq foot free lease site in which is sector for “Housing” use following the 2K19 Master Plan with a PR of 1.4.
Galven Tan, Asst Managing Dir of IS and Capital Markets at Savills Singapore, revealed the bidding exercise for the project was steadily competed.
” The outcome is testimony to the sturdy features of the site– the unique possibility to create an excellent building at the edge of the city core and simply 350m away from the MRT Terminal, however appropriately close to lush and culminated sanctuary,” Galven revealed.
Wong S.C., Chairman and Managing Director of Hoi Hup Realty, summarized Flynn Park as a scarce hill piece.
” It is tranquil, green plus rich, besides appreciates closeness to the MRT connection as well as is mins to the city. It definitely will similarly reward significantly from its adjacency to the all new GSW enhancement,” Wong reported.
” We await creating an excellent product on this distinct spot.”