Flynn Park sold en bloc for $371mil
Flynn Park at 18 to 22 Yew Siang Road has been marketed by using collective transaction for $3hundred 71 mil to a JV between Hoi Hup Realty as well as Sunway Developments.
The price calculates to almost $1thousand 3hundred 55 per plot ratio or $1.318K per PR since including the 7 percentage additional verandas.
Savills SGP, that represented the sale, stated the transaction is the biggest collective sale site to have already sold this year.
Containing 72 condo units, Flynn Park fills a 208thousand 4hundred 43 square foot free lease plot that is sector for “Residential” application underneath the ’19 Master Plan by having a plot ratio of one point four.
Galven Tan, Assistant Managing Dir of Investment Sales and Capital Markets at Savills Singapore, announced the bidding activity for the project was keenly challenged.
” The final result is proof to the robust attributes of the location– the distinct possibility to generate a superior product at the fringe of the metropolis centre and even only 350m from the train Terminal, but perfectly near abundant and culminated nature parks,” Galven said.
Wong Swee Chun, Chairman and MD of Hoi Hup Realty, summarized Flynn Park as an unique hill land.
” It is tranquil, rich plus green, nevertheless takes pleasure in proximity to the train system as well as is minutes to the town. It will definitely at the same time benefit substantially from its own adjacency to the upcoming GSW development,” Wong said.
” We await putting together a superior offering on this specific one-of-a-kind spot.”