Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Road has been marketed using collective sale for $371 million to a collaboration among Hoi Hup Realty and Sunway Dvlpmt.
The price calculates to almost $1thousand 3hundred 55 per PR or $One thousand Three hundred Eighteen per plot ratio when taking into account the seven % added bonus balconies.
Savills Singapore, that agented the transaction, stated the agreement is the leading collective sale site to have recently sold current year.
Presenting seventy two house units, Flynn Park occupies a 2hundred 8thousand 4hundred 43 square ft freehold site that is sector for “Residential” usage following the 2019 Master Plan by having a plot ratio of 1.4.
Galven Tan, Deputy Managing Director of Financial Investment Sales and Capital Markets at Savills Singapore, mentioned the tender exercise for the development was keenly competed.
” The final result is proof to the solid qualities of the plot– the extraordinary opportunity to put together a superior offering at the margin of the downtown centre furthermore merely Three hundred Fifty m from the Mass Rapid Transit Station, however perfectly near luxurious and culminated sanctuary,” he claimed.
Wong S.C., Chairman and MD of Hoi Hup Realty, represented Flynn Park as an uncommon hill piece.
” It is peaceful, lavish and green, besides appreciates distance to the Mass Rapid Transit system and is minutes to the city. It is going to similarly benefit considerably from its adjacency to the new GSW development,” S.C. shared.
” We look forward to establishing a premium product on this particular distinct spot.”