Flynn Park En Bloc Sale 2021 – Condo Near Pasir Panjang MRT

Flynn Park En Bloc Sale 2021 – Condo Near Pasir Panjang MRT

A Timely Launch for Hungry Land Acquisitors

As developers had been screaming for bigger land size to suit their needs recently, Savills Singapore responded by launching Flynn Park, a freehold site in the collective sale market via public tender.

Interested parties must submit their tender before 3pm on Sept 9, 2021.

According to Savills, the reserve price for Flynn Park is set at S$365 million, including a 7% bonus (GFA) gross floor area for balconies, the land price will be around S$1,284 psf ppr.

This is somewhat more than the property’s original asking price of S$363.8 million when it was put up for collective sale in June 2018.

The Yew Siang Road freehold property covers a total land area of 208,443 sq ft. and the condo itself comprise of 72 units.

Under URA 2019 Master Plan, the site has a gross plot ratio of 1.4 and is zoned for residential use.

The development fee payable, including bonus balconies, is about S$36 million, according to URA’s development baseline response.

The freehold site may be converted into a new premium, low-density project with up to 271 apartments averaging 100 square meters in size.

Flynn Park provides an “excellent opportunity” to purchase a big freehold property on the outskirts of the city, according to Galven Tan, Savills deputy managing director of investment sales and capital markets.

“Developers are looking for good mid-sized locations like this. The Circle Line, which is expected to be finished in 2025, would connect the new development to the Marina Bay Financial District in just seven stations

“He went on to say that the potential site has piqued the attention of numerous developers already.

Flynn Park Condo is Walking Distance to Pasir Panjang MRT Station
The Redevelopment Site That Can Yield 271 Units is Close to Pasir Panjang MRT Station and its Walking Distance Away

Factors That Make Flynn Park Attractive

Flynn Park condo is located at 18-22 Yew Siang Road district 5, southern part of Singapore.

The enbloc site is at an advantage as far as connectivity is concerned. The property has Pasir Panjang MRT station nearby which is only 3 mins walk away.

The Circle Line MRT has increased accessibility to Flynn Park “tremendously,” according to Sunil Guliani, chairman of the property’s CSC, despite the fact that the development is showing its age.

“The majority of the owners will be unhappy to go, but Flynn Park is becoming older, and there are more maintenance concerns these days. It’s time to go for collective sale”, he explained.

Aside from the MRT station, Flynn Park is near Mapletree’s business park and Sentosa, as well as facilities like Pasir Panjang Food Centre and VivoCity.

The region will also benefit from the government’s plans for the Greater Southern Waterfront, which will span 30 kilometers of Singapore’s southern shoreline from Pasir Panjang to Gardens by the Bay.

The presence of good educational institutions nearby is also a marketing point for the 72-unit condominium.

River Valley High School and the International School Singapore (ISS) are less than 1½km away, and the American College is also within the same distance.

Flynn Park Condo En Bloc Details

Flynn Park En Bloc Sale Pinterest
  • Status: For Sale

  • Tenure: Freehold

  • Land Size: 208,443 sq ft

  • Plot Ratio: 1.4

  • Total Units: 72

  • Address: 18-22 Yew Siang Road

  • Nearest MRT: Pasir Panjang

  • District: 5

  • Marketing Agent: Savills Singapore

  • Reserve Price: S$365 million 

  • Tender Close: Sept 9, 2021

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