Shun Tak acquires High Point for $557mil
Shun Tak Holdings, through its wholly-owned branch Shun Tak High Point, has actually acquired District Nine non commercial structure High Point for $Five hundred Fifty Seven mil.
The grp intends to rebuild the residential property– that is its own 5th property purchase in central Singapore within 5 yrs– right into an extravagance residential project for property wrap-up scheduled in 2027.
Placed over the summit of Mt E found in the Orchard Rd residential area, the Twenty Two storey non commercial project was introduced for en bloc sale in October by having a guide deal of $Five hundred Fifty mil. The price tag was fixed out of its former en-bloc attempt in 2019.
Settled in Nineteen Seventy Three, the free lease project takes up a 47,606 square feet spot that is sector for Home application under the ’19 Master Plan including an allowable total PR of 2.8 including a height restraint of as much as Thirty Six floors.
That it is a mere 7 minutes’ stretch to Orchard Road Mass Rapid Transit terminal and also is near a variety of facilities consisting of Mt Elizabeth Healthcare facility, Paragon Medical, SGP Botanic Gardens in addition to personal clubs Tanglin Club as well as TAC.
“With the gain with this fifth property, we shall certainly further stretch our selection as well as grip in S’pore and remain to bring in top-quality and different factors to improve the zesty development of the urban area,” said Pansy Ho, Team Executive Chairman also Managing Dir of Shun Tak.
She noted that the successful open of their previous properties, featuring Park Nova also Les Maisons Nassim, exhibited “Shun Tak’s steadiness in developing premium quality housing properties with cutting-edge ideas and creative feels in which fitted the demand of perspective purchasers from either local and also overseas sector”.