Flynn Park sold en bloc for $371mil
Flynn Park at 18 – 22 Yew Siang Rd has actually gotten retailed over en-bloc deal for $3hundred 71 million to a JV between Hoi Hup Realty plus Sunway Developments.
The deal rate formulates to approximately $1,355 per PR or $1,318 ppr once taking into consideration the 7 percent premium balconies.
Savills S’pore, that agented the transaction, said the agreement is the biggest collective deal location to have recently sold current yr.
Containing seventy two condo units, Flynn Park occupies a 208,443 square ft free lease site that is sectioned for “Non commercial” purpose following the 2019 Master Plan by having a plot ratio of 1.4.
Galven Tan, Deputy Managing Director of IS and Capital Markets at Savills Singapore, stated the bidding movement for the property was steadily competed.
” The result is proof to the secure qualities of the plot– the distinct possibility to put together a premium building at the fringe of the metropolis center as well as simply 3hundred 50 meter away from the train Terminal, but best beside flourishing and developed nature parks,” he claimed.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, illustrated Flynn Park as a rare hill plot.
” It is peaceful, environment-friendly and rich, besides relishes proximity to the MRT network also is minutes to the town. It will definitely in addition reward significantly by its own proximity to the upcoming Southern Waterfront development,” he announced.
” We anticipate generating an excellent offering on this particular unique spot.”