Urban Treasures - Luxury Resort-Living Development By Prestigious Fragrance Group

Urban Treasures is a residential development that is located in the developed residential estate of Bedok Reservoir Road and Jalan Eunos. The site looks forward to redevelopment following the closure of the sale with a $220 million offer by the Fragrance Group in one of the most competitive bids. The high price is over the original asking price by $2 million. According to Cushman and Wakefield, following the sale, each of the owners is set to receive between $1.4m and $2.1m. Owners of the penthouses will walk away with $3.5 to $4.7 m.

The freehold property enjoys a land area of 11,735 sq ft and a plot ratio of 1.6. With such a space, Urban Treasures could enjoy a GFA of 196,653.6 sq ft, including the extra balcony area of around 10 %. From the buying price of the site, the land rate translates to S$111 psf ppr.

Urban Treasures - Luxury Resort-Living Development By Prestigious Fragrance Group

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The short story about Urban Treasures by Fragrance Group in Sales Gallery

Urban Treasures Condo Developer, James Koh, executive chairman, CEO, and founder of Fragrance Group, spotted the spalling concrete pavement below the altar for the Earth God, he dashed out of the Urban Treasures sales gallery. He asked one of his workers to mix a batch of plaster for him while he went to fetch a trowel from his Rolls-Royce, and proceeded to smoothen the concrete. He got quite a lot of work done before surrendering the trowel to the worker. According to P Aravindan, deputy CEO of Singapore-listed property developer, investor and hotelier Fragrance Group, Koh was very hands-on.

After returning to the Urban Treasures Sales Gallery, Koh said he had relocated the Earth God’s altar to its current position as he felt it imparts “a sense of serenity” to the place. It was only after the relocation that he noticed the spalling concrete. Koh was at the sales gallery of Urban Treasures ahead of the weekend preview. Fragrance purchased the former Eunos Mansion site at Jalan Eunos for 1 and a half years in a collective sale for $220 million. Based on the plot ratio of 1.6 and 10% bonus balcony space, the purchase price for the land translated to $1,118 psf per plot ratio (ppr).

Urban Treasures - Proudly to be a residential development by Fragrance Group

Urban Treasures Residences is a quiet freehold home that will launch 237 residence units in 2 blocks and 4 diverse apartment types. Slated for completion in 2023, the project is being developed by Fragrance Holdings, a publicly listed property developer with a presence across Asia, Australia, and Europe. Koh commented that it was a huge piece of land and it was a freehold condo. That was why it was called Urban Treasures - a real treasure in that part of Singapore.

According to Ken Low, managing partner of SRI, Urban Treasures' price was attractive and there was potential for future growth. Homebuyers are looking for properties with either product or price distinction. Urban Treasures is located a nine-minute walk to Ubi MRT Station and an 11-minute walk to Kaki Bukit MRT Station, both of which are located on the Downtown Line. It is a four-minute drive to Eunos MRT Station on the East-West Line and a six-minute drive to PLQ. According to Nicholas Mak, head of research & consultancy at ERA Realty, the development is nearby PLQ that is also an attraction because the integrated development is part of Paya Lebar Central, which the URA has designated as a commercial hub in the eastern region.

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