Savills Singapore, as the exclusive marketing agent, is pleased to launch the public tender of Flynn Park, located at 18-22 Yew Siang Road, a freehold elevated residential site on Kent Ridge grounds, located within the low density neighborhood of Pasir Panjang.
Nestled within a tranquil enclave amidst parks and greenery along Kent Ridge Park and the Southern Ridges, Flynn Park sits on an elevated plot, enjoying views towards the sea, nature and parks. Situated at the end of a cul de sac, this exclusive site offers privacy and tranquillity, whilst being mere minutes from the vibrant heart of the city centre. Zoned ‘’Residential’’ with an allowable gross plot ratio of 1.4 under the 2019 Master Plan, the Site has a sprawling land area of approximately 208,443 sq ft. The site is approximately 350m from Pasir Panjang MRT Station.
The reserve price for Flynn Park is $365 million, which works out to $1,284 ppr, including the 7 per cent bonus gross floor area for balconies. Based on the development baseline reply from URA, the development charge payable (including bonus balconies) is approximately $36m. The site can be redeveloped into a new upscale low density development of up to 271 units with an average size of 100 sqm.
“The CSC wanted to move quickly with our second collective sale attempt and we were impressed with the Savills team who were tasked with getting the 80% within 2 months which they duly did. Flynn Park is a very convenient and tranquil place to live in, it is a perfect place for work life balance. The Circle Line MRT has improved the accessibility tremendously. Most of the owners will be sad to move out but Flynn Park is getting older and there are more maintenance issues to deal with these days. It is time to go enbloc”, said Mr Sunil Guliani, Chairman of the CSC.
The site enjoys excellent connectivity via major roads, expressways, the MRT network and major bus routes that ply Pasir Panjang Road. There is close proximity to landmarks such as Mapletree Business Park, Sentosa and the Keppel Marina. Additionally, a host of amenities and F&B offerings are within a short walk or drive (eg: Pasir Panjang Food Centre, Alexandra Retail Centre, Vivo City, amongst others).
In addition, the Pasir Panjang precinct is poised to extensively benefit from its close proximity to Singapore’s next major transformation, the future Greater Southern Waterfront. This will be the area where Singapore’s master plan for a waterfront six times the size of Marina Bay takes shape. Stretching across 30km of southern coastline from Pasir Panjang to Gardens by the Bay, the Greater Southern Waterfront is envisioned to be a seamless extension to the CBD & Marina Bay, and will be the new major gateway and location for urban living along Singapore’s Southern coast.
Galven Tan, Deputy Managing Director, Investment Sales & Capital Markets, said: “We are very excited to present this exceptional opportunity to acquire a large freehold site at the fringe of the city centre and just 350m from the MRT Station, yet right next to lush and matured nature parks. Such prime mid-sized sites are exactly what developers are seeking. Furthermore, once completed in 2025, the Circle Line will connect the new development to Marina Bay Financial District in just seven stops.”
“In the weeks prior to the tender launch, several developers have expressed keen interest on this unique site”, Galven added.
Savills Singapore is the exclusive sole marketing agent for this Public Tender exercise. The tender closes on Thursday, 9 September 2021, at 3pm.