Freehold bungalow on Kew Drive sold for $16.3 mil
The purchaser subsequently looked at some other landed properties however can not find a location that fit their demands. “They like this plot [at 26 Kew Drive] offered its size and redevelopment opportunity, in addition to the reality that it is inside strolling proximity of public transportation features,” he mentions. The house is a four-minute walking from the Upper East Shore Bus Terminal and less than a 10-minute stroll from the upcoming Bedok South MRT Terminal on the Thomson-East Coast Line.
A property bungalow near Kew Drive, off Upper East Coast in District 16, has been realized $16.3 million. Based upon the property land spot of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a team of bungalow specialists in Huttons Asia, brokered the purchase. In regards to absolute price, this is the highest ever before for a house in the Kew property, says See.
Caveats lodged show that the prior high was the revenue of a bungalow on Kew Drive taking up an estate acreage of 11,857 sq ft in December 2017. The real estate brought $10.55 million or $890 psf on the land area. The most current transaction for a removed home in the location occurred on Jan 13, 2022 the second a bungalow on Kew Terrace with an acreage 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 past homeowners of 26 Kew Drive have inhabited the presenting six-bedroom, 6500 sq ft real property ever since it was built over thirty years earlier. In March this year, the house was put up for sale via a tender exercise by OrangeTee & Tie with a guide cost of $18 million. The tender finalized on April 14 without finding a purchaser.
The customer of 26 Kew Drive had actually been searching for a ground real estate in the place for “quite some time”, claims See. They had made a deal for the residence a year earlier at $16 million, but the prior homeowner chose not to carry on with the sale at that rate.
The property is a 10-minute stroll to Bedok Food Centre and a five-minute drive to Siglap Community Club, that has retail offerings, including a Sheng Siong Grocery Store, a McDonald’s diner and an Anytime Fitness gym. 26 Kew Drive is also situated just within 1km of Temasek Primary School and Temasek Secondary School.
Provided their interest for the site, the purchaser, who is a Singaporean, made an increased deal of $16.3 million. See says they intend to take apart the presenting property as well as build a brand-new one initially. Based upon URA’s Master Plan 2019, the site is marked for a landed development of as much as 3 floors. Found at the end of a dead end, the raised site suggests the new home would most likely have views of the surrounding landed estate.
