Singapore billionaire Koh Wee Meng’s Fragrance Group puts freehold building on sale for $64M
Fragrance Group, founded and controlled by billionaire Koh Wee Meng, has put the Verdun House building in Singapore on the market at an S$82 million (US$64.1 million) guide price.
Singapore billionaire Koh Wee Meng is putting his fragrance company's freehold building up for sale, with the price tag reaching $64 million. The $2,669 per square foot price tag for the commercial property equates to $22,486 per square meter, based on the maximum permissible gross floor area of 30,728 square feet. This price represents a 48.8% premium over the $55.1 million Koh paid for the building in 2022.
Verdun House, constructed in the 1980s, sits on a 7,316-square-foot corner plot across 6, 8, 10, and 12 Verdun Road in District 8. It currently has a gross floor area of 22,730 square feet, comprising four retail units at ground level and 12 apartments on the three upper floors. The apartments previously underwent a reconfiguration to become co-living units after Koh acquired the property.
Koh, the executive chairman and CEO of Fragrance Group, is seeking to sell the property. The company, which he started in the 1990s after leaving his family's jewelry business, has expanded its portfolio to include projects in Singapore, Australia, and the UK. Forbes ranked Koh 21st among Singapore's wealthiest people in September, estimating his fortune at $2.1 billion. The property's location offers convenience, with Farrer Park and Jalan Besar MRT stations nearby.
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