Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
The home was developed by a private owner who was one of the very first to acquire a bungalow advancement location in the North Cove of Sentosa Cove from Sentosa Development Corp. The building has improved hands four times since then, the most recent remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
The master bedroom is located on the first floor as well as features direct access to an exterior patio. Two added en suite bedrooms, in addition to the kitchen area as well as eating place, are additionally found on the first floor of the house, every one of which open to a courtyard as well as water feature. There is additionally an en suite room located on the second floor.
The bungalow at Ocean Drive that is up for auction lies near F&B avenues as well as retail offerings at Quayside Isle as well as One Degree 15 Marina Sentosa Cove. It is also only a 10-minute ride to VivoCity as well as the CBD.
On Jan 12, a bungalow resting on an area of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). At the same time, 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.
The double-storey bungalow has four bedrooms and 6 shower rooms, with an overall built-up area of 5,252 sq ft. The residential property has a 99-year leasehold tenure which began with 2005. An essential attribute of the house is the full-height glass home windows of the living room on the 2nd degree of the house, which offers an unblocked view of the sea and the CBD sky line across the water.
In November 2011, it had actually changed hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest purchase lodged for the residential property 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 certainly be installed for auction by SRI on April 28. The property is a mortgagee sale and has a guide cost of $21 million, which translates to $2,192 psf based on the property’s land area of 9,580 sq ft.
Sentosa Cove bungalows and also condos have seen a resurgence in purchase activity over the last year. The most recent purchase of a bungalow along Ocean Drive was on Nov 2 last year, when a waterway-facing building sitting on a 10,629 sq ft, 99-year leasehold location modified hands for around $23 million ($2,164 psf).