A UNIT of Fragrance Group has snapped up the freehold Eunos Mansion for S$220 million in a collective sale.
Each unit at the 111,735 sq ft site, bound by Jalan Eunos and Bedok Reservoir Road, is expected to receive between S$1.48 million to S$2.19 million, while the penthouses will receive S$3.55 million and S$4.7 million, respectively.
With a plot ratio of 1.6, that translates to S$1,118 per plot ratio, including a 10 per cent bonus balcony.
Cushman and Wakefield’s executive director of capital markets, Shaun Poh, said the plot could yield a mid-sized condominium project, given its proximity to the up-and-coming Paya Lebar Regional Centre and business parks at Eunos and Bedok Reservoir.
There are no development charges payable due to its high development baseline, said Cushman and Wakefield.