FRX Capital has successfully completed its Mount Rosie Signature Collection, a development that includes four terraced houses and two bungalows on a 30,659 sq ft site on Mount Rosie Road. This project represents a significant addition to the local real estate landscape, having been developed on land that was previously occupied by a single bungalow. The careful planning and execution of this collection are indicative of FRX Capital's commitment to enhancing property offerings in the area.
Acquired for $43.8 million in May 2021, the Mount Rosie Signature Collection was officially launched for sale in August 2022. The development has attracted considerable interest from buyers since its introduction to the market. This is evidenced by the successful sales of three of the four terraced houses and one of the bungalows shortly after the launch. Notably, the highest-priced terraced house in the collection sold for an impressive $10.02 million, indicating robust demand for high-end properties in this desirable location.
The bungalow, featuring six bedrooms, commanded a remarkable price of $33.89 million when it was sold in November 2023. This transaction underscores the strong market interest that has followed the project's attainment of its Temporary Occupation Permit (TOP) in February 2023, allowing buyers to take possession of their properties. The timing of this permitting has played a crucial role in stimulating buyer sentiment, demonstrating a healthy appetite for luxury residential offerings in the region.
FRX Capital's approach to the Mount Rosie Signature Collection also reflects a strategic focus on easing the redevelopment process for first-time buyers of landed properties. The complexities and challenges often associated with such projects can deter potential homeowners, but FRX Capital has aimed to streamline these aspects, making the acquisition of landed properties more accessible.
This commitment to simplifying the experience for buyers is particularly relevant in a competitive real estate market, where first-time buyers may feel overwhelmed by the intricacies of purchasing and developing landed properties.
The success of the Mount Rosie Signature Collection serves as a testament to FRX Capital's ability to identify and capitalize on market opportunities. As urban living continues to evolve, developments such as this one are likely to resonate with buyers seeking both luxury and practicality in their residential choices. The high demand for properties in this collection indicates a broader trend where prospective homeowners are drawn to well-designed, high-quality developments that offer a blend of comfort and sophistication.
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News Source: Edgeprop
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