Fragrance Group completes acquisition of Australia property

20 Jun 2017

Fragrance Group logo Singapore


Using internal funds, Fragrance Group has completed the acquisition of the property located at 5-7 Sandy Bay Road; 9, 11 & 13 Wilmot Street and 4, 6 & 8 Heathfield Avenue, Hobart, Tasmania, Australia.

With a land area of around 4,868 sq m, the property houses the main Conservatorium of Music building – which is operated by the University of Tasmania and a 1,108 sq m warehouse.

Aside from these, the property also features three brick buildings on Heathfield Avenue, a communications tower and three heritage listed conjoined cottages on Wilmot Street.

Occupying the corner of Wilmot Street and Sandy Bay Road, the property is a short stroll to both the CBD and Salamanca Place – Hobart’s hospitality and entertainment precinct.

“The property is currently zoned “Urban Mixed Use” under the Hobart Interim Planning Scheme 2015,” it said in an SGX filing.

“Under the current zoning, the property can potentially be redeveloped for office, retail, hotel and residential uses.”

Fragrance does not expect the acquisition to materially affect its net tangible assets or earnings per share for the current financial year ending 31 December 2017.


This article was edited by Denise Djong.


You may also like these articles

More Singapore construction, consultancy firms venture overseas

  The number of overseas projects secured by local contractors and consultants doubled from 289 projects in 2014 to 594 in 2015, showed the Building and Construction Authority’s (BCA) Constr

Continue Reading15 Jun 2017

PropertyGuru Myanmar Property Awards 2017 final shortlist revealed

Awards founder and managing director Terry Blackburn (fourth from left) poses with PropertyGuru Myanmar Property Awards 2017 nominees. Battling for a total of 17 competition categories and special

Continue Reading16 Jun 2017

Real estate stocks rally

  Shares of Singapore-listed property players are poised to achieve their highest annual gain in five years, with experts believing that the good times would continue, reported Bloomberg. S

Continue Reading19 Jun 2017