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 News Asia, 9 Apr 2010
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