Far East property developers launch luxury scheme in Devon
A Far East property firm is launching a luxury residential development in the South West.
The Fragrance Group of Singapore is best known for investing in hotels across the world.
But the company is launching its first UK residential development in the English Riviera.
The firm is opening a luxury development in Torquay.
The Fragrance Group’s schemes including the MGallery in Liverpool and the new Mercure and Ibis Styles hotels on Paignton’s seafront.
It has now developed 37 exclusive homes on a wooded peninsula overlooking Anstey’s Cove.
Planning consent for the new homes, on part of the former Palace Hotel site, was granted in 2019 and building began in early 2023, although work paused for several months after Brady Construction went into administration.
Now under the construction management of Exeter-based DNA and its subcontractors, Palace Gardens is due to be completed by the end of 2024, offering high quality, “strikingly modern” and EPC ‘A’-rated energy efficient homes, powered by air-source heat pumps and fitted with solar panels.
The luxurious homes come in a variety of contemporary designs, all named after Devon’s most stunning seaside towns; The Shaldon, The Exmouth, The Salcombe and The Dartmouth.
The new homes at Palace Gardens are being marketed by Knight Frank with prices starting from £715,000.
It has been a busy year for the international property group. Whilst work continues on the multi-million-pound rebuilding of the Corbyn Head Hotel on Torquay’s seafront, due to open in 2025, in Liverpool the new boutique Municipal Hotel and Spa M-Gallery opened its doors following an extensive £80m investment by the Fragrance Group in the transformation of the city’s Grade II listed former council offices.
In Blackpool, planning permission was granted in April this year for a new high quality 143 bed hotel on the site of the former St Chad’s Hotel on the town’s famous Promenade.
And in Bath, “soft-strip” preparation works are underway at the former Royal Mineral Water Hospital – otherwise known as The Min – ahead of the major refurbishment of a former Grade II listed NHS building into a luxury city centre hotel.
Planning permission was granted by Bath and North East Somerset Council in summer 2021 for the sensitive refurbishment of the historic building into a 160 bedroom hotel which is expected to give a multi-million pound boost to the city’s economy.
On behalf of the Fragrance Group’s UK operations, Erika Wilmott said: “Fragrance Group are known worldwide for their property investment and development. Here in the UK, we are seeing the realisation of their vision to breathe new life into redundant buildings and transform iconic seaside and city centre sites, significantly boosting the local economy through tourism and employment opportunities.
“Palace Gardens in Torquay marks the property group’s first residential development in Britain. It is a truly stunning development, and we look forward to inviting house hunters who are seeking something very special.”
