Pansy Ho’s Shun Tak Holdings acquires High Point for $557 million via en bloc sale

After the successful en bloc sale of Peace Centre & Peace Mansion, another collective sale has been concluded in prime District 9.

This time round, High Point has been acquired by Shun Tak Holdings for a whopping $556.688 million.

Based on a gross floor area of 226,815 square feet, the sale price of High Point translates to a land rate of around $2,626 psf ppr.

It’s the 3rd highest transacted land sale (with regard to land rate) since July 2018.

That was when Shun Tak Holdings, led by Hong Kong casino billionaire Pansy Ho acquired 2 land plots via collective sale.

One of them of Park House (for $375 million or $2,910 psf ppr) and a bungalow site at Nassim Road (for $218 million or $2,725 ppr).

The 2 new launch condos are now known as Park Nova and Les Maisons Nassim respectively.

High Point is a 59-unit freehold apartment building, located at the cul-de-sac and the highest point of Mount Elizabeth.

Hence, it offers residents unblocked panoramic views of the greens surrounding Goodwood Hill, the century-old Goodwood Park Hotel, and city skylines.

Despite having a site area of only 47,606 square feet, it can potentially be redeveloped into a 36-storey residential development with up to 98 luxury homes (200 square metres or. 2,148 square feet each).

For property developer Shun Tak Holdings, this will be its 5th acquisition in Singapore.

2 of its luxury condo projects have made recent headlines in the property market.

Back in May 2021, the biggest penthouse unit (5,899 square feet) at Park Nova was sold for a staggering $34.44 million (or $5,838 psf).

Later on in October 2021, the super penthouse unit (12,077 square feet) at Les Maisons Nassim was fetched $75 million (or $6,210 psf).

Marker watchers mentioned that the successful launch of these 2 luxury projects has showcased Shun Tak’s supremacy in developing luxury high-end condominiums that appeal to the discerning affluent homebuyers – both local and overseas.