Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Road has gotten transacted over en-bloc sale for $Three hundred Seventy One mil to a joint venture linking Hoi Hup Realty and Sunway Developments.
The price formulates to about $1thousand 3hundred 55 ppr or $1,318 ppr subsequently considering the seven percentage advantage patios.
Savills S’pore, that represented the transaction, claimed the deal is the most significant en-bloc transaction plot to have recently sold off in 2K21.
Containing seventy two house units, Flynn Park fills a Two hundred and Eight thousand, Four hundred and Forty Three square ft freehold site that is sector for “Residential” usage within the ’19 Master Plan by having a PR of 1.4.
Galven Tan, Asst MD of Investment Sales and Capital Markets at Savills Singapore, revealed the tender activity for the property was eagerly contested.
” The outcome is testimony to the secure attributes of the site– the special venture to generate a superior offering at the margin of the city center and merely 350m away from the Mass Rapid Transit Station, nevertheless best near abundant and matured sanctuary,” Galven stated.
Wong S.C., Chairperson and Managing Director of Hoi Hup Realty, illustrated Flynn Park being an uncommon hill piece.
” It is soothing, environment-friendly plus abundant, nevertheless relishes distance to the train system furthermore is minutes to the city. It is going to furthermore reward greatly by its own adjacency to the brand-new GSW development,” Wong claimed.
” We eagerly anticipate creating a superior building on this specific unique location.”