Chinatown shophouses bought by Fragrance 

Fragrance Foodstuff which is famous for Bak Kwa, bought 2 prime adjoining shophouses along New Bridge  Road where it leased the ground floor space for its flagship outlet for about 12 years. It paid S $20.5M for the shophouses, which sit on 99-year-tenure land. The land they sit on has a balance of 77 years remaining. The  combined landed area is 1728sqft, thus translate the purchase to around $3535 psf based on gross floor space of 5800sqft. The seller is Yeah Capital Pte Ltd, which is owned by the family controlling ValueMax Group of pawnbroking shops. 

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