FRX Capital clinches maiden win for landed project with Mount Rosie Signature Collection

/ EdgeProp Singapore |

October 13, 2023 9:10 AM SGT

Mount Rosie Signature Collection comprises two bungalows and four terraced houses. The architecture, conceptualised by DS Architects, features a modern colonnade design.

Homegrown real estate development company FRX Capital took home the coveted Top Landed Development award in the Uncompleted (Central) category at the EdgeProp Singapore Excellence Awards (EPEA) 2023. The winning project is its Mount Rosie Signature Collection in District 11.

This is a landmark win for the boutique developer which handed over its first three landed projects last year. It is also the first win the developer has achieved at EdgeProp Singapore’s annual property awards.

FRX Capital, formerly known as Fraxtor Capital, is the development arm of Fraxtor, a Singapore-based blockchain-enabled real estate investment platform. This type of real estate investing offers individual investors a fractional share of a property development or investment.

The pair of bungalows are the only units in the development that come with a private pool each. (Picture: FRX Capital)

Mount Rosie Signature Collection is FRX Capital’s fourth landed project project in Singapore launched where investors get a chance to invest fractionally. Last year, FRX Capital completed its first three landed projects — a pair of semi-detached houses at 5 & 5A Gardenia Road, three terraced houses at 187/189/191 Haig Road, and a pair of semi-detached houses at 6 & 8 Jalan Novena Selatan.

Stately hilltop homes

Mount Rosie Signature Collection comprises two bungalows and four terraced houses. The architecture, conceptualised by DS Architects, features a modern colonnade design that is inspired by European townhouses which makes them look grand and stately. The interior design was curated by Wallflower Architects.

The project puts to advantage its hilltop position on Mount Rosie, nestled within the exclusive Goldhill Estate. This provides it with a commanding view over the low-lying landed houses along Barker Road and verdant greenery on Malcolm Road.

The collection of homes was launched for sale in August last year. According to URA caveats, at least two terraced houses have been sold to date. The first unit was an 8,450 sq ft, four-bedroom terraced house that was sold for $12.35 million ($3,805 psf) on Aug 30, 2022. This was followed by the sale of a 7,710 sq ft four-bedroom terraced house that fetched $9.58 million ($3,849 psf) when it was sold on Feb 14 this year.

Each terraced house consists of a basement with a private carpark for up to six cars, a lift to access the rest of the floors, and a helper’s room with an attached bathroom. The ground floor features a central courtyard that is flanked by the living room and dining room. The kitchen, which is connected to the dining room, also leads to the laundry room and yard at the back of the house. A powder room for guests is also on this floor.

The central courtyard, featured in each house, is the centrepiece complementing the living spaces. (Picture: FRX Capital)

The living spaces make up the second floor and the attic. This includes the en suite master bedroom and en suite junior master bedroom, each featuring a walk-in wardrobe as well as an en suite bedroom. The attic contains the fourth en suite bedroom, a multi-functional entertainment room, and a common bathroom.

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Elegant bungalows

The pride of Mount Rosie Signature Collection is undoubtedly the pair of detached bungalows which feature their own private entrance driveways and secluded backyards.

Compared to the terraced houses, the basement carpark of these two bungalows is large enough to accommodate 10 cars, while doubling up as an arrival hall for residents and guests. The bungalows are also the only ones at Mount Mosie Signature Collection to have a private pool each.

The largest bungalow sits on a 10,998 sq ft portion of the site and has a total built-up area of 24,958 sq ft. Its configuration, featuring six master bedrooms, two junior master bedrooms and two en suite bedrooms, makes it ideal for large multi-generational families. The basement also accommodates the first helper’s room and a chauffeur’s room.

The stately modern aesthetic translates into well-crafted living spaces throughout the bungalows. (Picture: FRX Capital)

Once again, a central courtyard is the focal point of the ground floor. It is surrounded by the dining room, living room, a private dining room with a pantry, and a kitchen with an attached pantry. The pool deck and pool are next to the dining and living areas. The first en suite master bedroom with a walk-in wardrobe is also on this floor.

The second floor consists of the second master bedroom, both junior master bedrooms, and both en suite bedrooms, as well as a study room and a dedicated family room. The attic houses a powder room, a pantry, a multi-functional entertainment room, and a gym. An extended open-air roof terrace expands the usable space.

Overall, the architecture and aesthetics of the houses in Mount Rosie Signature Collection reflect the elegance of the landed homes in the Goldhill Estate and are elevated through the use of modern design and materials.

For example, the courtyards in each house allow light and natural ventilation to flow through the living spaces while the functional layout and modern colonnade architecture drive the modernist aesthetics.

Milestone achievements

The launch of Mount Rosie Signature Collection is a significant achievement for Fraxtor and FRX Capital. It is a sign that its business model, offering fractional shares in a property investment, is gaining traction and it can deliver luxury landed home projects to a discerning local market.

Cornerstone investors of Fraxtor and its projects comprise a group of investors led by veteran property developer Daniel Teo, the chairman and managing director of Hong How Group. Teo is also a director of local property development group Tong Eng Group.

This group of core investors, as well as individual fractional investors, also helped Fraxtor close the deal on the en bloc purchase of Gloria Mansion for $70.3 million in January 2022. The freehold property at 292 Pasir Panjang Road, successfully attracted a round of investment for the redevelopment project which had an estimated gross development value (GDV) of more than $145 million.

Fraxtor and FRX Capital have at least three redevelopment projects lined up in their pipeline in Singapore but Fraxtor has yet to announce details of these upcoming landed projects and the redevelopment of Gloria Mansion.

This includes a landed development project at 56 Kingswear Avenue, redeveloping a semi-detached house with an earmarked GDV of more than $8 million; the redevelopment of a semi-detached house at 10 Redwood Avenue with a GDV of more than $11 million; and development plans to transform a detached house at 3 Merino Crescent into a new landed project with a GDV exceeding $14 million.

Overseas diversification

Fraxtor has also diversified its investment opportunities for its customer base by entering overseas markets such as Thailand, Australia and the UK with a variety of real estate assets.

In Thailand, Fraxtor was one of a handful of investment partners that supported a deal by Singapore investment firm Prima Asset Management to acquire a freehold commercial property in Bangkok in June. Other investors were Baksh Capital and Thakral Corp.

The property comprises 250,000 sq ft of showroom, office, service and delivery space. It is leased to Tesla Motors through a triple net lease. While the acquisition price was not disclosed at the time, the property has a GDV of $48.33 million.

Fraxtor also has a long-running partnership with Singapore-based Q Investment Partners (QIP) since August 2020. The tie-up has enabled Fraxtor’s investors to take part in purpose-built student accommodation projects in the UK that are developed and managed by QIP. The tie-up was expanded last year to include QIP’s multi-family housing fund in Japan.

Fraxtor has also taken its speciality in landed houses to Australia where it is funding several landed development projects such as Coterie Como in Perth, an 18-unit apartment project comprising one- to three-bedroom units. In Melbourne, it also invested in Maple on Hastings, a 12-unit apartment development with a mix of two- and three-bedroom units.

Winning features

With a strong pipeline of mostly landed development projects in Singapore, Fraxtor continues to establish itself in the prime and luxury landed homes segment here. Its Mount Rosie Signature Collection is its latest masterpiece that features elegant designs and modern aesthetics and is set within exclusive neighbourhoods.

The judging panel of this year’s EPEA all felt that the terraced houses and bungalows in this collection pushed the envelope of design excellence. They also praised the overall design concept and functional design of the unit layouts.

The use of engineered stone on the facade was an example of the innovative design that the project demonstrated while the function of the central courtyard and open layout helped the project score high marks in terms of sustainability excellence.

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