Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures

The transactions notes the first collective sale from fresh air conditioning steps entered into effect on April 27, consisting of enhanced Additional Buyer’s Stamp Duty rates.

The purchasing of Kew Lodge is hanging authorization of the Strata Titles Board.

“In land-scarce Singapore we face a fairly selective fresh source of new landed residential properties instead of non-landed properties. We view ownership of prime landed homes as a substantial outlet of riches that offers significant funding upside in time. A landed residence acquisition nowadays can certainly be a vital investment for coming future generations,” claims Steven Ming, managing associate at Sakal Real Estate Partners, that in addition co-founded the business in 2018.

Kew Lodge, a freehold landed non commercial site at Kheam Hock Roadway in District 11, has been marketed en bloc to Aurum Land, a branch of Woh Hup, for $66.8 million. The collective sale tender for the residential property finalized on May 23. Aurum Land’s proposal represents a 5% premium over the location’s overview cost of $63.8 million as well as works out to a land price of approximately $1,940 psf.

The revenue of Kew Lodge was agented by Sakal Real Estate Partners, with the package noting the real estate financial investment advisory and also brokerage company’s first collective sale purchase. Rajah and even Tann are the selected legal agent for the owners.

Avenir Condo Singapore

Kew Lodge consists of 11 townhouses ranging from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft site. Zoned within a “Residential/ two-storey mixed landed” area within the URA 2019 Master Plan, the plot can potentially be redeveloped into a brand-new job comprising bungalows, semi-detached homes and/or terrace Homes

Michelle Yong, Chief Executive Officer of Aurum Land, claims the acquisition will expand the company’s range right into the landed estate field. “On an own level, I intend to develop my very own family home within this unique variety of deluxe homes and am excited to stretch the same chance to supply bespoke style options to meet the way of life needs of our discerning purchasers,” she adds. Aurum Land is the builder behind ventures including The Hyde on Balmoral Road in District 10 as well as Nyon on Amber Road in District 15.

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