Freehold bungalow on Kew Drive sold for $16.3 mil
The buyer of 26 Kew Drive had indeed been looking for a ground real estate in the place for “fairly some point”, states See. They had made an offer for the property a year earlier at $16 million, yet the prior owner picked not to proceed with the deal at that value.
The residential property is a 10-minute walk to Bedok Food Centre and a five-minute drive to Siglap Community Club, that has retail industry services, featuring a Sheng Siong Grocery Store, a McDonald’s restaurant and an Anytime Fitness gym. 26 Kew Drive is likewise situated inside of 1km of Temasek Primary School also Temasek High School.
Caveats lodged show that the prior high was the deal of a bungalow on Kew Drive inhabiting a property land area of 11,857 sq ft in December 2017. The property retrieved $10.55 million or $890 psf on the acreage. One of the most latest deal for a removed home in the location took place on Jan 13, 2022 the minute a bungalow on Kew Terrace with a land area of 4,496 sq ft changed hands for $3.58 million ($796 psf). Prior to that, a bungalow on Kew Drive with an acreage of 8,279 sq ft obtained $6.38 million ($771 psf) on Jan 6, 2022.
The previous proprietors of 26 Kew Drive have actually dwelled the presenting six-bedroom, 6500 sq ft property ever since it was constructed over thirty years back. In March this year, the residence was put up for sale using a tender exercise by OrangeTee & Tie with an overview cost of $18 million. The tender closed on April 14 without finding a customer.
The buyer subsequently looked at many other landed properties but can not get a site that matched their requirements. “They prefer this plot [at 26 Kew Drive] given its dimension and redevelopment possibility, in addition to the reality that it is inside walking distance of common transportation features,” he mentions. The house is a four-minute walk from the Upper East Coastline Bus Terminal and no more than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coastline Line.
A real estate bungalow around Kew Drive, off Upper East Coast in District 16, has actually been realized $16.3 million. Based upon the property land location of 14,376 sq ft, this works out to $1,134 psf. Mey Lim as well as Lawrence See of GCB Collective, a team of bungalow experts in Huttons Asia, agented the purchase. In terms of outright price, this is the highest ever before for a home in the Kew property, states See.
Offered their interest for the location, the customer, who is a Singaporean, generated an increased proposal of $16.3 million. See says they intend to tear down the existing property as well as develop a new one from scratch. Based on URA’s Master Plan 2019, the area is designated for a landed development of as much as three storeys. Situated at the end of a cul-de-sac, the raised location suggests the brand-new home would certainly have viewpoints of the neighboring landed estate.