SINGAPORE – Mainboard-listed property developer Fragrance Group will launch the sale of its Jervois Treasures condo in prime District 10 on Saturday (July 27), with prices starting from $1.37 million for a one-bedroom apartment.
Located in Jervois Road in the Tanglin area, the five-storey luxury development has 36 units, comprising one- to three-bedroom units of 506 to 1,432 sq ft.
Prices for two-bedroom units start from $1.64 million, while those for three-bedroom apartments begin at $2.85 million.
The condo is being developed on the site of the former Lotus @ Jervois, which Fragrance Group bought en bloc for $46.3 million in March last year. The price worked out to around $1,683 per sq ft per plot ratio (psf ppr), including an estimated development charge of $200,000.
The condo, which is expected to be completed in March 2021, is a five-minute drive from Orchard Road, the Central Business District and Marina Bay Financial Centre. The nearest MRT stations are Redhill, Tiong Bahru and Orchard Boulevard, which is on the Thomson-East Coast Line, due to open in 2021.
Nearby landmarks include the Singapore Botanic Gardens, Dempsey Hill, and shopping malls Valley Point, Tiong Bahru Plaza and Great World City. Schools in the area are Alexandra Primary School, Zhangde Primary School, Gan Eng Seng School and Crescent Girls’ School.
Jervois Treasures has a swimming pool, function room, playground, barbecue deck and outdoor gymnasium among other facilities.
Fragrance also said another condo project being built on a site acquired en bloc, Urban Treasures in Jalan Eunos, will go on sale in the later part of 2019’s third quarter.
Fragrance bought Eunos Mansion for $220 million ($1,118 psf ppr) in a collective sale in March last year.
Urban Treasures has two 12-storey buildings with 237 units in total. Facilities will include a swimming pool, children’s playground, barbecue pits, tennis courts and a gym.
Fragrance Group said it is turning its focus back to Singapore with the launches of these two projects after forays into Australia and the UK.
Its Australia portfolio consists of hotels, residential and commercial developments, while it has hotels in many cities across the UK.
Mr Koh Wee Meng, founder, executive chairman and CEO of Fragrance Group, said: “We have been busy building a good foundation for growth in overseas markets in recent years. Revisiting the Singapore market, we picked up two choice sites with freehold tenure in prime and strategic locations. Jervois Treasures is a coveted address, while Urban Treasures will offer a good value freehold property in the east.”
Fragrance Group shares were down 3.1 per cent or $0.004 at $0.125 as at 3.41pm.