Fragrance buys Jervois block for S$46.3m; Eu Realty sells two shophouses

Singapore

A UNIT of Fragrance Group has bought Lotus at Jervois, a four-storey freehold apartment block, for S$46.3 million.

The price works out to around S$1,683 per square foot per plot ratio (psf ppr) inclusive of an estimated development charge of S$200,000.

Fragrance Group, controlled by tycoon Koh Wee Meng, is expected to redevelop the District 10 property.

The existing development - comprising 20 rental apartments ranging from one bedroom with study units to four-bedders - was built some 20-plus years ago. Under the Urban Redevelopment Authority's…