Former Flynn Park sold en bloc for S$371m to Hoi Hup-Sunway joint venture
Terra Hill was formerly Flynn Park located in Pasir Panjang. It was sold for S$371 million an alliance between Hoi Hup Realty as well as Sunway Developments on 10 Sept 2021.
The price of the sale works out to about 1,355 S$ per plot (ppr), which surpasses the reserve price of S$365 million. price, or S$1,284 per ppr at the time the property was made available to the public for sale on the 28th of July. (The first attempt to launch an en bloc auction in June 2018 was unsuccessful and did not result in any buyers.)
In addition to 7 percent Bonus balconies price of land amounts to about S$1,318 per acre.
Terra Hill Yew Siang Road review is located along West Coast Highway which was previously Flynn Park comprises 72 apartments and covers the freehold of 208,443 square foot of land. It is located about 350m to Pasir Panjang MRT station and is located near Mapletree's business parks and Sentosa as well as services like Pasir Panjang Food Centre and VivoCity.
According to the Urban Development Authority's Master Plan Based on the Urban Redevelopment Authority's 2019 Master Plan, the site is classified as "residential" with the plot proportion of 1.4.
Hoi Hup Realty and Sunway Developments have won the Terra Hill (former Flynn Park Condo) by submitting a bid for $371 million. The cost is the land rate of $1,355 per square foot per plot proportion (psf per plot ratio). In the event that 7% balcony bonus was added to GFA, the Gross Floor Area (GFA) that means it would mean that the land rate would be $1,318 per square foot per. This price includes the development cost of around $24 million, which will increase that plot's ratio up to 1.4 in the URA Master Plan 2019. The additional development cost of $16 million is due for the 7.7% reward GFA.
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Terra Hill is about 350m away from Pasir Panjang MRT station on the Circle Line and it is close to Mapletree's business park Sentosa, Pasir Panjang Food Centre and VivoCity. The location is on the outskirts of the city's centre so residents are able to commute to work in a short time. But, Terra Hill is right close to mature and lush nature parks.
CONNECTIVITY
* Pasir Panjang MRT (CC26)
* Labrador Park MRT (CC27)
* West Coast Highway
LIFE and RECREATIONS
* Kent Ridge Park
* HortPark
* Henderson Wave
* Labrador Park
* Sentosa Island
* Vivo City
Educational Institutions
* ISS International School (Preston Campus)
* Blangah Rise Primary School
* New Town Primary School
Sunway Developments Pte Ltd Sunway is a wholly-owned subsidiary to Sunway Concrete Products (S) Pte Ltd., a Sunway Group company; The Malaysia conglomerate's core business is property construction and investment REITs in real estate as well as design and construct construction and construction materials, leisure and education as well as information technology and hospitality. They have been awarded acclaim from international organizations like FIABCI and IFAWPCA They have also formed strategic alliances with international investors like Government Investment Corporation of Singapore (GIC), Malaysian Provident Fund (EPF), Kuwait Finance House (KFH) and Goldman Sachs, Sunway Reit is also the biggest Malaysia Reit in terms of size of assent as well as free floating.
One of Singapore's leading concrete precasters in Singapore, the company has projects in both public and private sectors, and has worked on several Design & Build Projects such as lkea @ Tampines and The Meadows at Punggol, Design-Build-Sell-Scheme on R&D exercise to implement innovative products such as prefabricated toilet systems and lift upgrading to cater to the needs of the ever-changing market.
Established in 1983. Hoi Hup Real Estate Pte. Ltd. is a thriving property developer which has completed more than 900 quality houses and has more than 500 private residences in different levels of development. Our projects that sold out, such as The Ford @ Holland, Suites @ Cairnhill and Waterford Residence indicated that our development was well-loved by the public.
A keen eye for detail and years of experience in the field Our team has acquired knowledge about the properties we create. This expertise allows us to improve our efficiency and deliver a superior quality and innovative products to our buyers of homes.
The pursuit of high-end standards in building excellence has enabled us to be able to adapt to the needs of our customers. We also received an award of the Best Buildable Design Award 2007 Merit for the De Royale Condominium by the Building and Construction Authority. With a clear vision and a solid ethos to create properties that provide the highest levels of elegance, practicality and technological innovation in the most desirable and strategically placed locations, Hoi Hup's passion is matched by its dedication to superior craftsmanship and value. The luxurious interiors and the imaginative designs are the hallmark of our projects. Hoi Hup, as a company Hoi Hup, are driven to be innovative and establish new standards as a exclusive developer that serves an array of markets both today and in the future. The projects currently under construction are Parc Canberra, Parc Central, Ki Residences, etc