Freehold bungalow on Kew Drive sold for $16.3 mil
Provided their interest for the spot, the purchaser, who is a Singaporean, secured a raised proposal of $16.3 million. See states they prepare to take down the presenting residential property and also construct a new one initially. Based on URA’s Master Plan 2019, the area is designated for a landed innovation of as much as 3 storeys. Located at the end of a cul-de-sac, the elevated spot suggests the brand-new residence would certainly have views of the bordering landed estate.
The purchaser of 26 Kew Drive had been looking for a ground real estate in the location for “quite some time”, says See. They had made a proposal for the residence a year ago at $16 million, yet the previous owner chose not to proceed with the transaction at that value.
The residential property is a 10-minute stroll to Bedok Food Centre and also a five-minute drive to Siglap Community Club, which has retail industry offers, involving a Sheng Siong Grocery Store, a McDonald’s dining establishment and an Anytime Fitness fitness center. 26 Kew Drive is likewise situated just within 1km of Temasek Primary School also Temasek High School.
Caveats lodged show that the previous high was the revenue of a bungalow on Kew Drive occupying a property land area of 11,857 sq ft in December 2017. The real estate brought $10.55 million or $890 psf on the acreage. The most recent transaction for a separated home in the area occurred on Jan 13, 2022 the minute a bungalow on Kew Terrace with an acreage of 4,496 sq ft shifted hands for $3.58 million ($796 psf). Before that, a bungalow on Kew Drive with a land area of 8,279 sq ft obtained $6.38 million ($771 psf) on Jan 6, 2022.
The customer consequently took a look at other landed properties yet can not discover a place that matched their needs. “They like this plot [at 26 Kew Drive] provided its measurements and even redevelopment opportunity, as well as the truth that it is in just strolling distance of public transport features,” he states. The house is a four-minute walk from the Upper East Shore Bus Terminal as well as less than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
The past owners of 26 Kew Drive have inhabited the existing six-bedroom, 6500 sq ft property since it was developed over three decades back. In March this year, the house was offered using a tender exercise by OrangeTee & Tie with an overview cost of $18 million. The tender closed on April 14 without finding a buyer.
A property bungalow along Kew Drive, off Upper East Coast in District 16, has actually been sold for $16.3 million. Based on the property land location of 14,376 sq ft, this figures out to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a group of bungalow professionals in Huttons Asia, serviced the transaction. In regards to absolute cost, this is the highest possible ever before for a house in the Kew estate, mentions See.