Fragrance Group to launch Jervois Treasures in Tanglin at prices starting from S$1.37m

MAINBOARD-LISTED property developer Fragrance Group will be launching the sale of its Jervois Treasures condo in prime District 10 on Saturday with prices starting from S$1.37 million for a one-bedroom apartment.

Located at 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 S$1.64 million while those for three-bedroom apartments begin at S$2.85 million.

The condo is being developed on the site of the former Lotus @ Jervois, which Fragrance Group bought en bloc for S$46.3 million in March last year. The price worked out to around S$1,683 per square foot per plot ratio (psf ppr) inclusive of an estimated development charge of S$200,000.

The condo, which is expected to be completed is 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 MRT, Tiong Bahru MRT, and Orchard Boulevard MRT on the Thomson-East Coast Line (due in 2021).

Nearby landmarks include the Singapore Botanic Garden, Dempsey Hill, 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, barbeque deck and outdoor gymnasium amongst other facilities.

Fragrance Group also said that another condo project being built on an en bloc site, Urban Treasures in Jalan Eunos, will go on sale in the later part of 2019's third quarter.

Fragrance bought Eunos Mansion for S$220 million (S$1,118 psf ppr) in a collective sale in March last year.

Urban Treasures has duo 12-storey buildings with 237 units in total. Facilities will include a swimming pool, children's playground, barbeque 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.

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 S$0.004 at S$0.125 as at 3.41pm.