Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, through its wholly-owned branch Shun Tak High Point, has actually secured District 9 housing property High Point for $557 mil.
The group intends to redevelop the real estate– which is its fifth property purchase in downtown S’pore throughout 5 years– toward a luxury household structure for building wrap-up scheduled in 2027.
Located over the height of Mt Elizabeth inside of the Orchard Road housing vicinity, the Twenty Two floor household project was released for collective sale in Oct with a guide deal of $Five hundred Fifty mil. The price was the same out of its previous en bloc offer in 2K19.
Finalized in Nineteen Seventy Three, the free lease structure occupies a Forty Seven thousand Six hundred Six square foot spot that is sector for Household use under the 2K19 Master Plan with a permitted total plot ratio of Two point Eight including a height limit of until Thirty Six levels.
It is a small seven mins’ stroll to Orchard Road MRT terminal and even is near a range of features featuring Mt Elizabeth Healthcare facility, Paragon Medical, Singapore Botanic Gardens and also private clubs TC and also TAC.
“With the buy of this 5th property, we will even more broaden our selection as well as foothold in SGP and persist to produce excellent and exceptional details to jazz up the vivid development of the city,” reported Pansy Ho, Grp Exec Chairman also Managing Director of Shun Tak.
She observed in which the triumphant start of their earlier projects, consisting of Park Nova also Les Maisons Nassim, exhibited “Shun Tak’s steadiness in developing excellent quality housing properties with impressive approaches and artistic touches in which well-matched the necessity of perspective customers from either local and overseas markets”.