Flynn Park sold en bloc for $371mil
Flynn Park at 18-22 Yew Siang Road has gotten offered over en-bloc transaction for $371 mil to a partnership in between Hoi Hup Realty as well as Sunway Dvlpmt.
The price formulates to approximately $1,355 per plot ratio or $1,318 ppr when considering the seven percentage reward verandas.
Savills S’pore, that represented the deal, mentioned the deal is the largest sized collective sale plot to have already marketed in 2021.
Offering seventy two home units, Flynn Park covers a 208,443 square foot free rental spot that is zoned for “Housing” usage under the ’19 Master Plan by having a plot ratio of 1.4.
Galven Tan, Asst MD of IS and Capital Markets at Savills S’pore, revealed the tender movement for the project was eagerly challenged.
” The outcome is proof to the strong features of the spot– the extraordinary venture to develop a premium offering at the margin of the downtown core as well as at most 350 metre away from the Mass Rapid Transit Station, nevertheless perfectly alongside flourishing also matured sanctuary,” Galven revealed.
Wong Swee Chun, Chairman and Managing Dir of Hoi Hup Realty, summarized Flynn Park being a scarce hillside area.
” It is soothing, eco-friendly plus rich, likewise delights in vicinity to the MRT connection and also is mins to the city. It will definitely in addition benefit strongly from its own proximity to the brand-new GSW enhancement,” Wong claimed.
” We expect developing a superior offering on this particular distinct plot.”