Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, using its 100% owned subsidiary Shun Tak High Point, has actually obtained Area Nine housing property High Point for $Five hundred Fifty Seven mil.
The grp is going to reconstruct the property– that is its 5th real estate acquisition in downtown S’pore in just five yrs– toward an upscale household project with property fulfillment embeded in 2K27.
Seated at the top of Mt E within the Orchard Rd residential area, the 22-storey residential property was generally started for en-bloc transaction in October along with a lead price of $5hundred 50 mil. The rate was fixed from its past en bloc offer in 2019.
Wrapped up in 1973, the freehold development inhabits a 47 thousand 6hundred 6 square feet location in which is sectioned for Residence application within the 2019 Master Plan including a permitted total plot ratio of Two point Eight and also an altitude limit of approximately 36 levels.
It is an only 7 minutes’ stroll to Orchard Rd MRT terminal and also is close-by numerous amenities such as Mount Elizabeth Hospital, Paragon Medical, Singapore Botanic Gardens and even personal clubs TC also TAC.
“By having the acquisition in this 5th real estate, we shall certainly additionally expand our selection as well as foothold in Singapore and persist to introduce high-quality plus extraordinary factors to jazz up the dynamic structure of the city,” said Pansy Ho, Group Executive Chairman also MD of Shun Tak.
She mentioned in which the effective start of their past properties, such as Park Nova and Les Maisons Nassim, demonstrated “Shun Tak’s core in generating top quality non commercial projects with revolutionary principles as well as innovative touches in which well-matched the interest of tasteful homebuyers from all local and even worldwide markets”.