How Sun Park Enbloc

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How Sun Park, a 54,942.7 sq ft freehold estate comprising a 3-storey development of 20 townhouses, has a 1.4 plot ratio (ratio of maximum floor area to land area). However, it has an allowable height of up to five storeys. How Sun Park’s owners’ reasonable reserve price of $70 million had drawn many interest buyers and the tender was awarded to the highest bidder.

After 2 failed attempts of collective sales, SingHaiyi Huajiang Amber, a subsidiary of SingHaiyi Group, had successfully bought How Sun Park for $81.09 million through an en bloc sale. As such, the owners of How Sun Park will receive about $4.05 million per unit which is slightly more than twice what they would have get had their units been sold individually.

 

Source: https://www.straitstimes.com/business/property/how-sun-park-sold-en-bloc-for-8109m-on-third-try

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