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Hoe Chiang Road site offered via EOI

The Fragrance Group-owned plot has a guide price of S$715 million, or about S$2,138-2,877 psf ppr depending on redevelopment scheme

Published Tue, Jul 21, 2020 · 09:50 PM

Singapore property

Singapore

AFTER receiving unsolicited interest from potential buyers for 15 Hoe Chiang Road, Fragrance Group has appointed JLL to conduct an expression of interest (EOI) exercise for the freehold property.

The guide price of S$715 million could translate to anywhere from S$2,138 per square foot per plot ratio (psf ppr) to S$2,877 psf ppr, depending on the redevelopment scheme a potential developer pursues.

The 39,337 sq ft site, with triple frontage along Hoe Chiang, Cantonment and Lim Teck Kim roads, has been approved for hotel use with a gross floor area (GFA) of about 248,483 sq ft - or an equivalent gross plot ratio of 6.3168 - based on a written permission issued last November.

Going by this proposal, the S$715 million guide price works out to S$2,877 psf ppr. No development charge (DC)…