Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, through its 100% owned secondary company Shun Tak High Point, has obtained District 9 residence property High Point for $Five hundred Fifty Seven mil.
The group wants to reconstruct the real estate– which is its own 5th building attainment in central Singapore throughout 5 yrs– toward a high-end housing development with project completion allocated in 2K27.
Seated at the height of Mt E amongst the Orchard Rd residential space, the Twenty Two level non commercial development was started for en bloc deal in October by having a lead price of $Five hundred Fifty mil. The price was unmodified created by its former collective sale attempt in 2019.
Concluded in Nineteen Seventy Three, the freehold property inhabits a Forty Seven thousand Six hundred Six sq ft plot that is zoned for Non commercial application underneath the 2K19 Master Plan with an authorized total PR of Two point Eight as well as a rise maximum of as much as 36 levels.
It is an only 7 mins’ walk to Orchard Rd MRT station and also is near different conveniences featuring Mount Elizabeth Hospital, Paragon Health Care, Singapore Botanic Gardens as well as private clubs Tanglin Club and also The American Club.
“By having the attainment of this particular fifth apartment, we will additionally broaden our collection as well as grip in Singapore and remain to produce top-notch and one-of-a-kind components to enhance the vibrant development of the urban area,” claimed Pansy Ho, Group Exec Chairman and Managing Dir of Shun Tak.
She noticed in which the successful launches of their previous properties, such as Park Nova and Les Maisons Nassim, proved “Shun Tak’s steadiness in establishing superior housing properties with impressive conceptualizations and creative feels that well-matched the requirement of tasteful buyers from all local including international industry”.