The 107-unit, freehold Eunos Mansion at Jalan Eunos, off Bedok Reservoir Road, has been bought by Fragrance Group for $220 million ($1,118 psf per plot ratio). The 111,735 sq ft residential site has a plot ratio of 1.6. The new project can have a gross floor area of 178,776 sq ft.
Eunos Mansion has 105 units and two penthouses. Owners are expected to receive between $1.48 million to $2.19 million for an apartment, and $3.55 million or $4.7 million for a penthouse.
Fragrance Group does not have to pay development charges, because of the collective sale site’s high development baseline. There is also an undersupply of freehold apartment units in the vicinity, says Cushman & Wakefield, which brokered the sale.
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