Fragrance Court
has been put up for collective sale at a reserve price of $70 million. This
translates to about $1,235psf ppr.
The freehold site
at Pasir Panjang, zoned for residential purposes, has an area of approximately
38,220sqft. It has a plot ratio of 1.4 under the URA Masterplan 2014. The existing
development is made up of 32 apartments.
Development
charge of about $2.7 million is only payable if the developers choose to build
the additional 10% balcony space.
The site is located just 200m from the Pasir Panjang MRT station and a short drive away from the
Central Business District (CBD), Mapletree Business City and Resorts World
Sentosa.
A neighboring
project that is currently under construction - Bijou - achieved an average sale price of $2,120psf in August 2014.
CBRE is the sole
and exclusive marketing agent for the sale. The tender will close at 3pm on Nov
19.
Info source: BT
Given the "bite size" plot and quantum, freehold
status and its proximity to the MRT station, the wife and I reckon that this
collective sale looks to be one that will garner quite a fair bit of interests
from developers.
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