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LOCATION SCAN: Givaudan’s new production hub boosts North Coast Innovation Corridor

By Tan Chee Yuen

/ Givaudan, The Edge Property |

October 8, 2015 5:00 PM SGT

Givaudan officially opened its new Fragrance creative centre and production hub in Singapore yesterday. At the same time, the Switzerland-headquartered firm also opened its first perfumery school outside of France. This represents its largest global investment for the firm's fragrance division at $100 million.

The building is located off Woodlands Avenue 8, enclaved in North Coast Innovation Corridor — a commercial belt stretching from the Woodlands Regional Centre and Sembawang to the Punggol Creative Cluster.

What’s available nearby?

As an overview, there are two private non-landed projects within 2km radius of the fragrance hub with recent transactions. Both of the projects were formerly executive condominium completed in 2000. The highest transacted price over the past six months was for a 2,347 sq ft unit at 99-year leasehold project Northoaks which sold for $1.22M ($520 psf). On the other hand, the most affordable transaction was for a 1,238 sq ft unit at 99-year leasehold project Northoaks which fetched $750,000 ($606 psf). Average prices range from $621 psf to $629 psf while gross rental yield lies between 4.0% and 4.1%.

Chart 1: Prices of private non-landed projects within 2km radius of the Givaudan’s new production hub

Source: URA, Edge Property

Chart 2: Rental comparison of private non-landed projects within 2km radius of the Givaudan’s new production hub

Source: URA, Edge Property

In the public housing segment, 3-, 4- and 5-room HDB flats within 2km radius of the fragrance hub were transacted at an average price of $302,000, $363,018 and $416,393 respectively over the past six months.

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Chart 3: Price statistics of HDB flats within 2km radius of the Givaudan’s new production hub

Source: HDB, The Edge Property

Chart 4: Rental statistics of HDB flats within 2km radius of the Givaudan’s new production hub

Source: HDB, The Edge Property

What’s recently transacted?

In September, a 1,292 sq ft unit in Woodsvale changed hands at $800,000 ($619 psf).

Table below only shows the 10 latest transactions, which are generated through our professional analytic tool on theedgeproperty.com. The tool is available for registered users. To find out more or to register, please write in to propertyeditor.sg@bizedge.com

Latest transactions of private non-landed projects within 2km radius of the Givaudan’s fragrance hub