TERRA HILL

Freehold

Former Flynn Park (Enbloc Oct 2021)

Developer : Hoi Hup Sunway

Land Price : $1,318 psf ppr

Expected Launch : Early Feb 2023

CALL 6100 8108
DISTRICT
D5 - PASIR PANJANG
UNITS
270
PROPERTY TYPE
CONDO
TENURE
FREEHOLD

Register Interest for Terra Hill Today

Terra Hill is the former Flynn Park, which was sold enbloc for $371 million to a joint venture between Hoi Hup Realty and Sunway Developments in Oct 2021. 

The sale price works out to approximately $1,355 per sq ft per plot ratio (psf ppr), which exceeds the $365 million reserve price, or $1,284 psf ppr, when the property was launched for sale by public tender on July 28. The development's first attempt at a collective sale in June 2018 ended without a buyer.

Including 7 per cent bonus balconies, the land price works out to approximately $1,318 psf ppr.

Located mere minutes walk from Pasir Panjang MRT, this project is expected to be in high demand.

Freehold development in a Central Location 
Minutes walk to Pasir Panjang MRT Station
Estimated Launch : Early Feb 2023

Register Your Interest Today!

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Terra Hill (Former Flynn Park) Street View

Flynn Park Master Plan

Flynn Park location as seen on Master Plan.

Press Coverage 

Flynn Park sold en bloc for S$371m to Hoi Hup-Sunway joint venture

10 Sep 2021

FLYNN Park in Pasir Panjang has been sold for S$371 million to a joint venture between Hoi Hup Realty and Sunway Developments, property consulting group Savills Singapore announced on Friday.

The sale price works out to approximately S$1,355 per plot ratio (ppr), which exceeds the S$365 million reserve price or S$1,284 ppr when the property was launched for sale by public tender on July 28. (The development's first attempt at an en bloc sale in June 2018 ended without a buyer.)

Including 7 per cent bonus balconies, the land price works out to approximately S$1,318 ppr.

Located along Yew Siang Road off West Coast Highway, Flynn Park comprises 72 apartments and sits on 208,443 square feet of freehold land. It is about 350m from Pasir Panjang MRT station and is near landmarks like Mapletree's business park and Sentosa, as well as amenities such as Pasir Panjang Food Centre and VivoCity.

Based on the Urban Redevelopment Authority's 2019 Master Plan, the site is zoned "residential" with a plot ratio of 1.4.

Reference

Press Coverage 

Flynn Park in Pasir Panjang seeks to go en bloc again

5 Oct 2021

The owners of Flynn Park are taking a second stab at a collective sale of the 72-unit freehold condominium, after its first tender in June 2018 ended without a buyer.

The site, which is about 350m from Pasir Panjang MRT station, has a land area of about 208,443 square feet.

It is zoned for residential use with an allowable gross plot ratio of 1.4 under the Urban Redevelopment Authority's (URA) 2019 Master Plan.

The owners have set the reserve price for the property at $365 million, which works out to $1,284 per plot ratio, including a 7 per cent bonus gross floor area for balconies, said exclusive sole marketing agent Savills Singapore.

This is slightly higher than the $363.8 million reserve price when it was launched for collective sale back in June 2018.

The site can be redeveloped into a new upscale, low-density development of up to 271 units with an average size of 100 square metres.

Reference

Press Coverage 

Flynn Park, Choon Kim House have second go at en bloc sale

5 Jan 2019

The freehold 72-unit Flynn Park, off Pasir Panjang Road, has a minimum price of S$363.8 million.

Following the July cooling measures, owners have been collecting signatures to get an 80 per cent mandate to lower the reserve price to S$325 million; they are at 75 per cent now.

After factoring in an estimated development charge of about S$24.5 million, the original reserve price translates to S$1,331 per square foot per plot ratio (psf ppr). If enough owners sign the supplemental agreement to lower the reserve price, the site would go for about S$1,198 psf ppr.

The first tender closed in June without a buyer.

Reference

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