Shun Tak acquires High Point for $557mil
Shun Tak Holdings, using its 100% owned subsidiary Shun Tak High Point, has acquired District 9 home property High Point for $Five hundred Fifty Seven million.
The group wishes to rebuild the property– which is its 5th apartment procurement in downtown Singapore within 5 years– toward a high-class household property with property wrap-up embeded in 2K27.
Resided over the height of Mt Elizabeth found in the Orchard Road residence zone, the 22-storey residential development got commenced for en-bloc sale in October including a lead value of $5hundred 50 mil. The value was the same from its prior collective sale quote in ’19.
Fulfilled in 1973, the lease free structure possesses a 47,606 sq ft spot that is sectioned for Housing use underneath the 2K19 Master Plan by having an allowable entire plot ratio of 2.8 including an altitude limitation of right up to Thirty Six storeys.
That it is an only 7 minutes’ stretch to Orchard Rd Mass Rapid Transit station and even is close several conveniences including Mt Elizabeth Medical center, Paragon Healthcare, S’pore Botanic Gardens in addition to exclusive clubs TC as well as TAC.
“Alongside the purchase in this fifth property, we shall certainly in addition grow our selection and position in S’pore and continue to generate top-quality and special factors to enhance the vibrant structure of the city,” reported Pansy Ho, Group Exec Chairman also MD of Shun Tak.
She considered that the successful start of their past properties, including Park Nova and Les Maisons Nassim, displayed “Shun Tak’s strength in producing top quality residential properties with revolutionary strategies and innovative touches in which fitted the request of tasteful buyers from either local along with overseas markets”.