Enbloc news: Fragrance Court

By The Folks @PropTalk - October 23, 2014 No Comments

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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