Park Nova by Shun Tak Holdings

Where
Luxury is an
understatement

Sitting on one of the most coveted junction of Tomlinson Road & Orchard Boulevard in Singapore, the 43,356 sq ft freehold  site was acquired by Shun Tak Holdings. This prime site has been earmarked to be developed into an ultra-luxurious residential development.

Park Nova In the News

Hong Kong listed Shun Tak Holdings announced on June 13, 2018 that it has purchased two prime sites in Singapore.

One was the en bloc of a prime 46,084 sq ft freehold site at 18 Tomlinson Road. The other site purchased is located in the most desired address in Singapore, Nassim Road. It’s a house sitting on a 66,452 sqft, freehold site at 14 and 14A Nassim Road…

vertical gardens in the city
@ PARK NOVA

Park Nova logo big

PARK NOVA on 18 Tomlinson

the premium location

On the very prime Orchard Road shopping belt of district 10’s Orchard Boulevard and Tomlinson Road, Shun Tak Holdings presents Park Nova.

An ultra luxury freehold residential development that offers only 54 units of bespoke residences for the select few.

a Shun Tak Holdings development

PARK NOVA on 18 Tomlinson

“Our group has been diligently exploring investment opportunities beyond our Greater China home base, and Singapore is certainly one of our strategic emphasis given its robust growth”

 

Pansy Ho,
Shun Tak group executive chairman and
managing director.

a Shun Tak Holdings development

PARK NOVA on 18 Tomlinson

delivering size

Residents of Park Nova truly deserve to be living in comfort and luxury; without any constrains of space. At Park Nova, we offer you all. Comfort, Luxury and Space.
Limited 54 units to select from.

2 + Study – 1,432 sqft (fm $5.8 mil)
3 + Study – 2,207 sqft (fm $9.6 mil)
4 BR – 2,895 / 2,906 sqft (fm 13.3 mil)
Penthouse – 3,229 / 4,499 / 5,899 sqft

a Shun Tak Holdings development

park nova floor plans

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PARK NOVA on 18 Tomlinson

The foundation of our work lies in a commitment to the quality of life in the city, a delight in the handling of material, space and light and an optimism about architecture’s potential to enrich our society.

PLP Architecture / Design Architect

a Shun Tak Holdings development

The P&T Group, the oldest and largest international architectural engineering practice in Southeast Asia Region. Our 1600-plus architects, engineers, planners and designers operate in over 70 cities, on an excess of 10 million square metres of combined floor area, annually.

P&T Award Winning Developments

Park Nova P&T The Unicorn Phayathai Thailand

2015~2021 (THailand)

The Unicorn Phayathai

2017 Asia Pacific Property Awards – Best Mixed-use Architecture Thailand

2017 Asia Pacific Property Awards – Mixed-use Architecture Thailand

2015 (Hong Kong)

The Pavilia Hill

2018 Quality Building Award – Finalists, Hong Kong Residential (Multiple Buildings)

2017 Asia Pacific Property Awards – Residential High-rise Architecture

2016 Hong Kong Professional Building Inspection Academy – Five-star Property Award

Park Nova P&T The Pavilia Hill Hong Kong

2015 (Singapore)

Skysuites @ Anson

2015 Asia Pacific Property Awards – Highly Commended Residential High-Rise Development

2015 Asia Pacific Property Awards – Highly Commended Residential High-Rise Development

2015 FIABCI Singapore Property Awards – Winner for Residential (Super High Rise)

2015 FIABCI Singapore Property Awards – Winner for Residential (Super High Rise)

Park Nova P&T Architects Skysuites
Park Nova P&T Nouvel 18

2011 (singapore)

Nouvel 18

2009 Singapore Building and Construction Authority (BCA) – BCA Green Mark Award – Gold

Park Nova P&T-Kensington-Krystal-Dubai

2007 (dubai)

Kensington Krystal

2009 Arabian Property Awards – Winner, Commercial Categories

park nova logo white small
PARK NOVA
for pleasure of ownership
PARK NOVA NEWS

A 5-bedroom penthouse on Orchard Boulevard sold for S$34.44m

The penthouse is the largest of three such units at Park Nova, a 54-unit luxury condo at 18 Tomlinson Road.

A 5-bedroom penthouse at Park Nova measuring 5,899 sq ft has sold for S$34.44 million, or S$5,838 psf, a record for the Orchard Boulevard area.

Sales at Park Nova, Hong Kong developer Shun Tak Holdings’ luxury condo located at 18 Tomlinson Road, kicked off on May 7.

A second 4-bedroom penthouse of 4,499 sq ft also sold for S$26.03 million, or S$5,785 psf. 

The penthouses are located on the top two floors of the 21-storey building. Besides the two penthouses, five other typical units have also been sold, Shun Tak Holdings said in a statement.

These include three 4-bedroom units located on the 15th to 19th floors, EdgeProp reported. Prices achieved for these units were over S$14 million and crossed S$5,000 psf, the publication said.

Park Nova, Shun Tak Holdings’ residential debut into the Singapore property market, is located in the coveted District 10, adjacent to Orchard Boulevard. Designed by London-based PLP Architecture, it boasts a total of 54 units.

Nestled within a lush garden of flowers and plants, the residential complex is designed as a vertical green park with verdant communal planters on every level. The 21-storey tower is lifted high above Orchard Boulevard on elliptical columns. 

The building’s unique curvature gives residents unobstructed private views of Singapore’s expansive cityscape above the lush greenery.

Unit types include 2-bedroom with study; 3-bedroom with study; 4-bedroom; and three penthouses.  

Park Nova also features a sky bridge and sky garden on the 14th level, and an outdoor deck with a hot spa, jacuzzi and 25m lap pool.

Source: CNA

About Shun Tak Group

Shun Tak Holdings logo

Shun Tak Holdings Limited is a leading listed conglomerate with core businesses in property, transportation, hospitality and investment sectors. Established in 1972, the Company (HKSE 242) has been listed on the Hong Kong Stock Exchange since 1973.

The Group has a prominent and successful track record in the Macau and Hong Kong property markets. The Group owns one of the largest developable floor areas in Macau among Hong Kong listed companies. It is an important player in Macau’s property market with a host of property development projects, and has growing presence in the Greater China real estate market with investments in Tongzhou and Dong Zhi Men in Beijing, Minhang, Qiantan and Jingan in Shanghai, Hengqin in Zhuhai, Xiqing in Tianjin and Chenggong in Kunming.

The Group has also recently entered the Singapore market through the acquisition of premium properties located in central business district, building a well-rounded portfolio spanning hotel, commercial and residential developments.

111 Somerset Road is a premium commercial development strategically located within the Orchard Road precinct, surrounded by a prime shopping, entertainment and tourism belt with direct MRT access. It comprises approximately a gross floor area of 766,550 square feet of office units, medical suites and 2 levels of retail podium.

The Group acquired two plots of prime residential redevelopment sites in downtown Singapore, namely Park House (now known as Park Nova) and 14 & 14A Nassim Road (now known as Les Maisons Nassim) in 2018. Situated close to Singapore’s famous shopping and entertainment hub of Orchard Road as well as renowned Central Business Districts, the two properties will be redeveloped into luxury residential condominiums for sale.

source:
Shun Tak Group

Shun Tak spends near $0.6 bn on two prime sites in Singapore

Hong Kong-listed Shun Tak Holdings announced on June 13 that it has purchased two prime sites in Singapore for a total of $593.5 million. Both deals were brokered by CBRE.

One was the en bloc purchase of Park House at 21 Orchard Boulevard for $375.5 million, which translates to a record breaking price of $2,910 psf per plot ratio (ppr).

The prime, freehold site of 46,084 sq ft has a plot ratio of 2.8 under the 2014 Master Plan. The site can be redeveloped into a luxury residential development with a gross floor area of 129,035 sq ft. No development charge is payable.

Park House is a 60-unit development, with 56 apartments and four shop units. Each apartment owner will receive a gross payout of $6.1 million, while each shop owner will walk away with $8.1 million.

The second site purchased by Shun Tak is located in the most coveted address in Singapore, Nassim Road. It’s a house sitting on a 66,452 sq ft, freehold site at 14 and 14A Nassim Road, believed to be the former home of the Tan family of privately held investment advisory firm, Siang Kuang. Word on the street is that Siang Kuang Avenue, off MacPherson Road where there’s now an interim park, was named after the family.

The site at Nassim Road has a plot ratio of 1.4, and can be redeveloped into a new luxury residential project with a gross floor area of 93,033 sq ft. The purchase price for the Nassim Road site is $218 million. The price translates to $2,744 psf ppr, including development charge.

According to Shun Tak, the acquisitions will allow the group to enhance its existing hotel and commercial portfolio in Singapore by adding a residential component to the mix. “Our group has been diligently exploring investment opportunities beyond our Greater China home base, and Singapore is certainly one of our strategic emphases given its robust growth,” said Pansy Ho, Shun Tak’s group executive chairman and managing director. Incidentally, she is the daughter of Macau gaming tycoon Stanley Ho, 95, who stepped down as chairman of Shun Tak in June last year.

Source
Yahoo! Finance

13 June 2018

At $2,910 psf ppr, this latest collective sale price for the prime Orchard Road site is the highest so far

Two blocks from St Regis Singapore, where North Korean leader Kim Jong-un stayed for the historic summit with US President Donald Trump, a milestone of a different sort was set. It was the collective sale of Park House, a 15-storey building located at the corner of Tomlinson Road and Orchard Boulevard. The tender for the building closed on May 31, and the deal was sealed at 12.30am on June 1. The purchase price was $375.5 million, a 21.9% premium to the guide price of $308 million when the site was launched for sale on April 23.

The buyer of Park House is said to be Hong Kong-listed Shun Tak Holdings, the company founded by Macau gaming tycoon Stanley Ho. It has a market capitalisation of HK$10.88 billion ($1.85 billion). Now 95, Ho stepped down as chairman of the firm in June 2017, and was succeeded by his daughter, Pansy Ho.

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. Jeremy Lake, CBRE managing director of capital markets, who brokered the sale of Park House, also brokered the last record-breaker — the former Hampton Court for $155 million ($2,526 psf ppr) in January 2013 The buyer was Hong Kong-listed, British conglomerate Swire Group’s Swire Properties.

Roll of the dice

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.

In its FY2017 annual report, Shun Tak says it plans to redevelop the prime, freehold site into a five-star hotel property with at least 140 keys. The existing bungalow will be demolished, and construction works are expected to begin in 2H2018, with completion scheduled for 2021.

In March last year, Shun Tak acquired a 70% stake in TripleOne Somerset for $350 million from a consortium led by Perennial Real Estate Holdings. This marked Shun Tak’s first significant commercial property investment in Singapore. TripleOne Somerset is also located in the prime Orchard Road neighbourhood.

The commercial property, which has a gross floor area (GFA) of 766,550 sq ft, is undergoing a $120 million asset enhancement work. When completed, it will have a total net area of 572,000 sq ft of offices, medical suites and retail units. Renovation of the medical suites is expected to be completed by 2Q2018, and the retail portion, by 3Q2018.

‘A bold number’

CBRE’s Lake expects Park House to be redeveloped into a luxury condominium with 86 units, assuming an average size of 1,500 sq ft each. Based on the purchase price, the breakeven price is expected to be around $3,500 psf. “I guess it is a bold number,” Lake says. “But it will be fine.”

For comparison, Lake points to the luxury 3 Orchard By-the-Park by Malaysian developer YTL Group. The development is separated from Park House by a government land site that also fetched a record price last month. The 77-unit 3 Orchard By-the-Park contains three 25-storey towers designed by Italian architect Antonio Citterio, famous for his design of the Bulgari Hotels & Resorts.

Located at the corner of Orchard Boulevard and Orchard Spring Lane, 3 Orchard By-the-Park will be previewed at the end of this month. Indicative prices are “around $4,000 psf”, according to appointed marketing agent. Only one tower at 3 Orchard By-the-Park will be released for private preview. The tower contains 14 two-bedroom apartments of between 1,066 and 1,163 sq ft; and 15 four-bedroom apartments of 2,250 sq ft.

Incidentally, 3 Orchard By-the-Park is also a redevelopment of an en bloc site — the former Westwood Apartments — which YTL Group purchased in November 2007 for $435 million. This reflects a land rate of $2,525 psf ppr. Meanwhile, a 7,836 sq ft penthouse at New Futura hit a new record when it was sold at $4,360 psf, or $36.28 million, in May. Recent units sold at the 124-unit luxury condo on Leonie Hill Road have surpassed $3,500 psf.

‘Bragging rights’

With YTL Group’s selling prices around $4,000 psf and New Futura’s prices above $3,500 psf, CBRE’s Lake reckons that the expected selling price for the new development at Park House “doesn’t seem beyond belief”.

Interest in the Park House site had been intense when it was launched for sale. “We were inundated by enquiries and we had 20 site inspections,” says Lake.

The appeal of Park House is its location, at the corner of Orchard Boulevard and Tomlinson Road, “which is very visible and has bragging rights”, notes Lake. Park House occupies a freehold site in prime District 9 and is within walking distance of the upcoming Orchard Boulevard MRT station.

Next door, the greenfield government land site was sold to a joint venture between Simon Cheong of SC Global Developments and two Hong Kong-listed groups — New World Development Corp and Far East Consortium International. The joint-venture partners bid $410 million, or $2,377 psf ppr, for the 61,597 sq ft, 99-year leasehold site on Cuscaden Road. According to the JV partners in a release on May 17, the Cuscaden Road site is “exceptional in Singapore’s luxury residential market”.

source: 
https://sg.finance.yahoo.com/news/park-house-breaks-en-bloc-141150685.html