|Project Name||Park Nova|
|Type||Apartment / Condo|
|Address||18 Tomlinson Rd, Singapore|
|Site Area||46,000 sqft|
|Development||One Tower of 22-Storey with basement carpark|
|No. Of Units||54|
There is an upcoming freehold new launch condo development at 21 Orchard Boulevard, Park Nova (Formerly Park House). Shun Tak’s purchase price of $375.5 million translates into a record breaking $2,910 psf per plot ratio (ppr) for a collective sale.
Park House marks Shun Tak’s first purchase of a residential property development site in Singapore but its third property investment in the city state. So far, Shun Tak’s preference has been in the prime Orchard Road neighbourhood.
The first acquisition was in August 2016, when Shun Tak purchased the bungalow at 9 Cuscaden Road for $145 million, or $2,145 psf ppr. The deal was brokered by JLL. The bungalow at 9 Cuscaden Road is behind Tanglin Shopping Centre, which is adjacent to St Regis Singapore, and near other luxury hotels such as The Regent Singapore and Four Seasons Hotel.
The prime, freehold site of 46,084 sq ft has a plot ratio of 2.8 under the 2014 Master Plan. The site will be redeveloped into a luxury residential development with a gross floor area of 129,035 sq ft.
2-Bedroom + Study =1,432sqft =17units
3-Bedroom + Study =2,207sqft =17units
4-Bedroom =2,895 - 2,906sqft =17units
Penthouse =3,229 - 5,899sqft =3units