FRAGRANCE Group announced on Tuesday that its wholly-owned subsidiary Fragrance VIC-MEL (Collins) sold its property located at 555 Collins Street, Melbourne, Australia for A$140 million (S$137.5 million).The total consideration for the sale, excluding goods and services tax, has been satisfied wholly in cash upon completion on Oct 26 2018.
FRAGRANCE GROUP DEVELOPER
Active for more than two decades, this Singapore-listed company has a long and successful track record developing boutique hotels and quality residential projects in Asia. Following the success of Premier Tower, Fragrance Group aim to bring another residential landmark to Melbourne with 555 Collins.
- Melbourne CBD Location
- Walking Distance to Southern Cross Train Station (Similar to Singapore's City Hall MRT Interchange)
- Easy access to RMIT and Melbourne University
- Close proximity to eateries, shopping malls, retail outlets and parks
- Exceptional quality finishes
Key Selling Points
Strong migration of highly skilled workforce into Melbourne triggers demand for housing outpacing supply. About 1500 to 2000 migrants into Melbourne per week.
Negligible stamp duty savings if you buy off the plan, competitive depreciation rates and tax exemptions
10% deposit only. 90% payable upon TOP.
Right to on sell to foreigners before TOP/Occupation using “and/or nominee”
***This is an overseas investment. As overseas investments carry additional financial, regulatory and legal risks, investors are advised to do the necessary checks and research on the investment beforehand***