A homegrown company for real estate development FRX Capital took home the sought-after Top Landed Development award in the Uncompleted (Central) category at the EdgeProp Singapore Excellence Awards (EPEA) 2023. The winner project is the Mount Rosie Signature Collection in District 11.
Hillock Green location map situated in a secluded environment provides an ideal setting for family living, blending convenience and comfort in a verdant, cosy setting.
This is a significant victory for the small developer that delivered its first three landed properties in the year. This is also the first victory the developer has received in EdgeProp’s annually held property awards.
FRX Capital, formerly known as Fraxtor Capital, is the development division of Fraxtor, which is a Singapore-based blockchain-enabled investment platform. This kind of real estate investment offers individuals investors a small portion of the proceeds of a property investment or development.
Mount Rosie Signature Collection is the fourth landed initiative in Singapore launched, giving investors the chance to invest in fractional. In the year 2000, FRX Capital completed its three initial landed projectstwo semi-detached homes at 5 and 5A Gardenia Road, three terraced houses located at 1 Haig Road, 187/189/19 1 Haig Road, and two semi-detached houses located at 6 and 8 Jalan Novena Selatan.
Homes on the hilltops that are stately
Mount Rosie Signature Collection comprises four terraced homes. The design, developed by DS Architects, features a contemporary colonnade design designed to be influenced by European townhouses that make the homes look elegant and formal. Design for the interior was developed with the help of Wallflower Architects.
The development makes the most of its hilltop location at Mount Rosie, nestled within the exclusive Goldhill Estate. It has an unobstructed view of the landed homes that are low on Barker Road and verdant greenery on Malcolm Road.
The homes were released to be sold in August of the previous year. According to URA cautions, at the very least two terraced homes have been sold so far. The first one was an 8,450 square feet four-bedroom terraced residence which was purchased at $12.35 million ($3,805 per square foot) on the 30th of August 2022. Then came selling a 710 square foot four-bedroom terraced house which sold for $9.58 million ($3,849 per sq ft) in the event that it was sold on February 14 of this year.
Each terraced house has the basement, which has an exclusive carpark that can accommodate up to six vehicles as well as a lift for accessing the other floors as well as a room for a helper with a bathroom attached. The first floor has an open courtyard separated from the living room and dining area. Kitchen, that connects to the dining room is also connected to the laundry area and backyard at the back of the home. A guest bathroom is also located on this floor.
The living spaces comprise the second floor, as does the attic. It includes an en-suite master bedroom as well as the en the junior master suite, both with a walk-in closet and an ensuite bedroom. The attic houses the fourth bedroom that is en suite as well as a multi-functional room for entertainment and a common bathroom.
The main attraction of the Mount Rosie Signature Collection is certainly the two detached bungalows that have their own driveways for entrances and private backyards.
In comparison to the terraced homes and the carpark in the basement of the two bungalows is big enough to hold 10 cars. It can also double into an entrance hall for guests and residents. These bungalows are the only bungalows in Mosie Signature Collection Mosie Signature Collection to have an individual pool.
The biggest house is located on a 10,998 square foot part within the site and covers a total covered area that is 24,958 square feet. The configuration, with six master bedrooms and two junior master bedrooms and two bedrooms with en suites which makes it ideal for large families of multiple generations. The basement also houses the first assistant’s room as well as the chauffeur’s room.
A center courtyard serves as the center on the first floor. It is located between the dining area and living room, as well as private dining room, an apron as well as a kitchen that has the pantry attached. The deck and pool are adjacent to the living and dining spaces. The first master bedroom that has a walk-in closet is also located situated on this floor.
The second floor is comprised of another master suite, the bedroom juniors as well as both rooms with en suite bathrooms along with the study area and a separate family room. The attic contains an en-suite pantry, a powder room and a multi-purpose entertainment area as well as a gym. A roof terrace that is open to the air increases the space available.
The overall architecture and design of the homes that are part of the Mount Rosie Signature Collection reflect the beauty of the landed homes of Goldhill Estate. Goldhill Estate and are elevated by the use of contemporary style and materials.
For instance the courtyards inside each house let natural light and ventilation to flow through living areas while the practical design and contemporary colonnade are the driving force behind the modernist style.
The debut of Mount Rosie Signature Collection is an impressive achievement to Fraxtor along with FRX Capital. It’s a signal that its model of business, which provides fractional shares of a property investing opportunity, is getting popularity and is able to deliver luxurious homes that are landed for a local market that is discerning.
Cornerstone investors in Fraxtor along with its ventures are a group of investors helmed by experienced property developer Daniel Teo, the chairman and managing director of Hong How Group. Teo is also the director at local property development company Tong Eng Group.
The core group of investors, along with individuals who invest in fractional investments, contributed to Fraxtor to close in the acquisition of Gloria Mansion for $70.3 million in January 2022. The freehold property located at 292 Pasir Panjang Road, which was sold successfully attracted investment for the redevelopment plan that was estimated to have a Gross Development Value (GDV) of over $145 million.
Fraxtor as well as FRX Capital have at least three redevelopment projects within their pipelines within Singapore however Fraxtor is yet to release details about these upcoming land projects as well as the redevelopment of Gloria Mansion.
The land development includes the located at 56 Kingswear Avenue, redeveloping a semi-detached residence with an earmarked GDV of over $8 million, the redevelopment of a semi-detached residence located at 10, Redwood Avenue with a GDV greater than $11 million; and plans to turn an unattached house on Merino Crescent into a new property with a gross development value of more than $14 million.
Fraxtor has diversified its investment options for its customers by introducing markets outside of the United States like Thailand, Australia and the UK by offering a range of real property assets.
Then in Thailand, Fraxtor was one of the few investment partners who supported an agreement by Singapore investment company Prima Asset Management to acquire an undeveloped commercial property in Bangkok in June. Other investors included Baksh Capital and Thakral Corp.
The property is comprised of 250,000 sq ft of office, showroom and service areas as well as delivery spaces. It is let the property to Tesla Motors through a triple net lease. The purchase price was not made public at time of purchase however, the property is estimated to be worth $48.33 million.
Fraxtor is also part of a long-standing partnership that is based out of Singapore Q Investment Partners (QIP) since the month of August in 2020. The tie-up has allowed investors from Fraxtor to be a part in specially-designed student housing projects in the UK that are designed and run by QIP. The tie-up was extended in the last season to encompass QIP’s multifamily housing fund in Japan.
Fraxtor has also brought its expertise in land-based houses to Australia where it is financing numerous land-based development projects, including Coterie Como in Perth, an apartment development of 18 units that comprises one- to three-bedroom apartments. In Melbourne it also invested into Maple on Hastings, a 12-unit apartment building that offers three- and two-bedroom apartments.
With a steady pipeline of mostly land-based developments in Singapore, Fraxtor continues to establish itself as a leader in the premium and premium landed homes segment in Singapore. Their Mount Rosie Signature Collection is the latest creation that features sophisticated designs and modern style and is located in exclusive communities.
The panel of judges for this year’s EPEA was unanimous in their opinion that the terraced homes and bungalows featured in this collection were pushing the boundaries of quality design. They also applauded the overall concept and the functional layout of the design.
The application of engineered stone in the façade was a great illustration of the creative design that was demonstrated by the project, and the main courtyard and its open layout of the space helped it earn excellent marks for the sustainability of the project.