Fragrance buys Culford Garden in enbloc bid for S$39m at tender

Fragrance Properties has bought the Culford Garden estate at Siglap for S$39 million in a collective sale.

The price translates to a land rate of about S$574 per square foot per plot ratio at a Gross Plot Ratio of 1.54.

The 24-unit Culford Garden has a land area of 44,094 square feet and is zoned for residential development with an allowable height of up to five stories.

Each owner could get an average of S$1.625 million from the sale.

This is believed to be the third successful enbloc sale this year.

Source : Channel NewsAsia – 9 Apr 2010

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