With acquisition of 62 & 64 Waterloo Street, they Plan to Combine and Redevelop these 2 Properties into a Brand-New Modern Hotel
Min Yuan Apartments, in District 7 has Sold en bloc for S$141 million to Fragrance Group, one of the famous developers in Singapore.
The developer made headlines last year when they acquired Waterloo Apartments (64 Waterloo Street) site for $131.1 million and at a land rate of S$2,172 psf ppr.
It is interesting to know that Min Yuan is neighbour of Waterloo Apartments and has now join collective success with its neighbour.
With these 2 en bloc sites acquired, Fragrance Group have in mind to redevelop the two properties together for a new hotel development.
The land area will then have a total of 2,694 square meters and a GFA of 11,315 sq m.
It is of course after obtaining the necessary approvals from the authorities.
Min Yuan Apartments is located at 62 Waterloo Street district 7, currently the hottest en bloc zone in Singapore.
The site has a land size of 14,629 square feet and a tenure of 999 years with 4.2 plot ratio.
It is easily accessible with 4 MRT Stations nearby: Bras Basah, Bencoolen, City Hall and Bugis.
Connectivity plays a very important part when comes to hotel development, since tourist can’t rent a car and drive in Singapore, the only way to travel is by railway stations.
All these stations mention above is only walking distance from the site and tourists will choose a hotel with the best connectivity.
The en bloc site is also situated in popular tourist zone in Singapore with many interesting places to go and explore, top attractions to visit.