Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Rd has gotten offered using collective transaction for $371 mil to a alliance linking Hoi Hup Realty and Sunway Dvlpmt.
The price formulates to roughly $1.355K per plot ratio or $1,318 per plot ratio upon considering the seven percent extra balconies.
Savills SGP, which brokered the sale, stated the offer is the most extensive en-bloc sale plot to have already offered in 2K21.
Presenting seventy two apartment units, Flynn Park fills a 2hundred 8thousand 4hundred 43 square ft freehold site that is sector for “Housing” use following the 2019 Master Plan including a plot ratio of one point four.
Galven Tan, Deputy MD of Investment Sales and Capital Markets at Savills S’pore, stated the tender action for the property was eagerly competed.
” The final result is testament to the robust aspects of the plot– the special chance to generate a premium offering at the edge of the downtown core as well as merely 350m from the train Station, nevertheless right next to flourishing and culminated nature parks,” Galven claimed.
Wong S.C., Chairperson and Managing Dir of Hoi Hup Realty, illustrated Flynn Park being an unusual hill area.
” It is tranquil, lavish and green, likewise enjoys closeness to the Mass Rapid Transit network and also is minutes to the city. It will certainly similarly profit considerably from its own adjacency to the latest Southern Waterfront enhancement,” Wong stated.
” We expect putting together an excellent product on this particular one-of-a-kind spot.”