Fragrance wants to sell industrial building in Geylang for $115 million

SINGAPORE - Property developer Fragrance Group is putting up an industrial building in Geylang up for sale.

Its wholly-owned subsidiary, Fragrance Biz Space, is looking to sell the new seven-storey building located at 110 Lorong 23 Geylang, close to Aljunied MRT station, at an indicative price of $115 million.

The building has a 60-year leasehold tenure and sits on a 67,944 square feet site that has dual road frontages as it is located at the junction of Sims Drive and Aljunied Road.

It has a total provisional strata floor area of 237,000 square feet and is zoned for "Business 1" use, meaning that light and clean industry or warehouse uses are allowed.

Other than industrial facilities, the building also has recreational amenities on the rooftop, including a swimming pool, a tennis court and a barbeque area.

The temporary occupation permit is expected sometime this quarter.

Property consultant Colliers International has been appointed as the sales agent and it will accept offers from interested parties until Feb 26.