Shun Tak acquires High Point for $557mil
Shun Tak Hldgs, via its 100% owned secondary firm Shun Tak High Point, has recently gotten Area 9 home structure High Point for $557 million.
The group wishes to redevelop the property– that is its 5th residence acquirement in city S’pore amongst 5 yrs– toward a high end residence development with building completion scheduled in 2027.
Seated on the height of Mt E inside of the Orchard Rd home neighborhood, the Twenty Two level housing development got commenced for en-bloc transaction in October including an advise price of $Five hundred Fifty million. The price was firm out of its earlier en-bloc attempt in 2019.
Concluded in 1973, the free lease development inhabits a 47 thousand 6hundred 6 sq ft site in which is zoned for Home purpose underneath the ’19 Master Plan including an authorized gross PR of Two point Eight together with an altitude cap of right up to Thirty Six storeys.
That it is a simple seven mins’ stroll to Orchard Road Mass Rapid Transit station furthermore is close several features consisting of Mt E Medical center, Paragon Health Care, SGP Botanic Gardens including personal clubs TC also TAC.
“Alongside the acquirement of this fifth building, we shall additionally increase our profile and also grip in Singapore and push on to produce top-quality plus exceptional factors to jazz up the zesty structure of the place,” said Pansy Ho, Grp Executive Chairman also MD of Shun Tak.
She observed that the triumphant release of their past properties, featuring Park Nova also Les Maisons Nassim, proved “Shun Tak’s steadiness in forming premium home properties with creative principles as well as innovative feels in which matched the demand of tasteful buyers from the two local also worldwide industry”.