Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Rd has been sold off through en-bloc sale for $371 mil to a joint venture involving Hoi Hup Realty plus Sunway Developments.
The price calculates to about $1,355 ppr or $1thousand 3hundred 18 per PR once taking into consideration the seven percent advantage verandas.
Savills S’pore, which represented the deal, claimed the offer is the leading cumulative deal site to have retailed current yr.
Presenting seventy two residence units, Flynn Park inhabits a 208,443 sq feet free lease location that is sector for “Non commercial” use underneath the 2019 Master Plan by having a PR of one point four.
Galven Tan, Asst MD of IS and Capital Markets at Savills SGP, revealed the bidding action for the project was intensely competed.
” The returns is testimony to the strong characteristics of the spot– the extraordinary chance to generate a superior product at the borderline of the downtown centre and at most Three hundred Fifty metre away from the Mass Rapid Transit Station, but best alongside lavish plus blossomed sanctuary,” he mentioned.
Wong S.C., Chairperson and MD of Hoi Hup Realty, detailed Flynn Park as an uncommon hillside land.
” It is tranquil, flourishing and environment-friendly, yet takes joy in proximity to the train connection and is mins to the town. It definitely will furthermore profit strongly by its own proximity to the all-new GSW development,” Wong announced.
” We eagerly anticipate producing an excellent building on this unique site.”