Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil

The property was developed by an individual proprietor who was one of the very first to purchase a bungalow development site in the North Cove of Sentosa Cove from Sentosa Development Corp. The residential property has modified hands 4 times ever since, the most recent remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

The double-storey bungalow has four bedrooms as well as six shower rooms, with a complete built-up area of 5,252 sq ft. The residential property has a 99-year leasehold period which started from 2005. An essential feature of the house is the full-height glass windows of the living room on the 2nd level of the house, which supplies an unblocked sight of the sea as well as the CBD sky line across the water.

Sentosa Cove bungalows as well as condos have seen a return in transaction activity over the previous year. The most up to date purchase of a bungalow along Sea Drive was on Nov 2 last year, when a waterway-facing residential property resting on a 10,629 sq ft, 99-year leasehold location modified hands for about $23 million ($2,164 psf).

On Jan 12, a bungalow sitting on an area of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). On the other hand, a bungalow at Lakeshore View sitting on an acreage of 7,888 sq ft was sold for $17.6 million ($2,231 psf) on Feb 9. Most recently, a bungalow at Cove Way in the South Cove sitting on a land area of 8,944 sq ft modified hands for $18.4 million ($2,057 psf) on March 22.

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The master bedroom is located on the initial storey as well as features straight accessibility to an exterior patio. Two extra en suite bedrooms, along with the cooking area and eating place, are additionally situated on the initial storey of the house, every one of which open up to a courtyard and also water feature. There is also an en suite bed room situated on the 2nd floor.

The bungalow at Ocean Drive that is up for bargain lies near F&B avenues as well as retail offerings at Quayside Isle and One Degree 15 Marina Sentosa Cove. It is also just a 10-minute trip to VivoCity and the CBD.

In November 2011, it had changed hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest deal lodged for the home was in October 2009 when it was sold for $16.9 million ($1,763 psf).

A bungalow situated along Ocean Drive in the premium Sentosa Cove property territory will be set up for auction by SRI on April 28. The residential property is a mortgagee sale and has an overview rate of $21 million, which converts to $2,192 psf based on the property’s land area of 9,580 sq ft.

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