Freehold bungalow on Kew Drive sold for $16.3 mil
The customer subsequently checked out some other landed properties but can not find a site that suited their needs. “They wish this plot [at 26 Kew Drive] offered its size including redevelopment possibility, in addition to the reality that it is inside walking proximity of common transportation services,” he says. The house is a four-minute walking from the Upper East Shore Bus Terminal and also less than a 10-minute stroll from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.
Caveats lodged show that the former high was the sale of a bungalow on Kew Drive inhabiting a property acreage of 11,857 sq ft in December 2017. The real estate brought $10.55 million or $890 psf on the acreage. One of the most recent purchase for a detached home in the area took place on Jan 13, 2022 the minute a bungalow on Kew Terrace with an acreage of 4,496 sq ft changed hands for $3.58 million ($796 psf). Prior to that, a bungalow on Kew Drive with a land area of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.
The purchaser of 26 Kew Drive had indeed been looking for a landed real estate in the place for “quite some point”, claims See. They had made an offer for the real estate a year earlier at $16 million, yet the previous owner picked not to continue with the transaction at that price.
Provided their preference for the location, the customer, that is a Singaporean, generated an increased proposal of $16.3 million. See claims they prepare to take apart the presenting residential property and also develop a new one initially. Based on URA’s Master Plan 2019, the site is assigned for a landed property development of approximately 3 floors. Found at the end of a cul-de-sac, the elevated site suggests the brand-new home would have sights of the neighboring landed estate.
A freehold bungalow along Kew Drive, off Upper East Coast in District 16, has actually been sold for $16.3 million. Based upon the property land site of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a team of bungalow experts in Huttons Asia, brokered the purchase. In regards to outright cost, this is the highest ever before for a home in the Kew estate, mentions See.
The former proprietors of 26 Kew Drive have occupied the existing six-bedroom, 6500 sq ft real property since it was constructed over three decades ago. In March this year, the residence was put up for sale using a tender exercise by OrangeTee & Tie with an overview rate of $18 million. The tender closed on April 14 without finding a purchaser.
The real estate is a 10-minute stroll to Bedok Food Centre and a five-minute drive to Siglap Community Club, that has retail industry offerings, including a Sheng Siong Grocery Store, a McDonald’s diner plus an Anytime Fitness gym. 26 Kew Drive is additionally situated within 1km of Temasek Primary School together with Temasek High School.