Freehold bungalow on Kew Drive sold for $16.3 mil

A property bungalow along Kew Drive, off Upper East Coast in District 16, has actually been brought $16.3 million. Based upon the freehold land spot of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a group of bungalow professionals in Huttons Asia, serviced the purchase. In regards to outright cost, this is the highest ever before for a residence in the Kew property, states See.

The customer of 26 Kew Drive had actually been looking for a landed real estate in the area for “rather some time”, states See. They had made a proposal for the residence a year ago at $16 million, however the past homeowner chose not to carry on with the sale at that cost.

Offered their interest for the site, the buyer, who is a Singaporean, secured a raised offer of $16.3 million. See claims they prepare to take down the occurring residential property and establish a new one from scratch. Based upon URA’s Master Plan 2019, the area is marked for a landed property development of as much as 3 storeys. Situated at the end of a cul-de-sac, the elevated spot means the brand-new residence would certainly have viewpoints of the bordering landed estate.

Avenir Condo Singapore

Caveats lodged view that the previous high was the sale of a bungalow on Kew Drive taking up a property land area of 11,857 sq ft in December 2017. The residential property fetched $10.55 million or $890 psf on the land area. One of the most latest deal for a separated home in the area happened on Jan 13, 2022 the second a bungalow on Kew Terrace with a land area of 4,496 sq ft shifted hands for $3.58 million ($796 psf). Prior to that, a bungalow on Kew Drive with an acreage of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.

The customer consequently looked at some other landed properties but could not discover a location that fit their needs. “They like this plot [at 26 Kew Drive] provided its measurements including redevelopment possibility, along with the truth that it is in just walking distance of public transport facilities,” he states. The house is a four-minute walk from the Upper East Shore Bus Terminal and also no more than a 10-minute walk from the upcoming Bedok South MRT Terminal on the Thomson-East Coast Line.

The residential property is a 10-minute stroll to Bedok Food Centre and a five-minute drive to Siglap Community Club, which has retail industry offerings, involving a Sheng Siong Supermarket, a McDonald’s dining establishment and an Anytime Fitness gym. 26 Kew Drive is likewise situated just within 1km of Temasek Primary School also Temasek High School.

The former homeowners of 26 Kew Drive have occupied the presenting six-bedroom, 6500 sq ft real property since it was developed over three decades back. In March this year, the residence was offered using a tender exercise by OrangeTee & Tie with an overview cost of $18 million. The tender finalized on April 14 without finding a purchaser.

error: Content is protected !!