Freehold bungalow on Kew Drive sold for $16.3 mil
The residential property is a 10-minute stroll to Bedok Food Centre and even a five-minute drive to Siglap Community Club, that has retail offerings, featuring a Sheng Siong Supermarket, a McDonald’s dining establishment plus an Anytime Fitness work out center. 26 Kew Drive is additionally placed within 1km of Temasek Primary School together with Temasek High School.
The buyer consequently took a look at many other landed residential properties yet can not find a place that suited their needs. “They prefer this plot [at 26 Kew Drive] provided its measurements and even redevelopment possibility, in addition to the truth that it is inside walking range of common transportation amenities,” he states. The house is a four-minute walking from the Upper East Shore Bus Terminal and no more than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
A property bungalow around Kew Drive, off Upper East Coast in District 16, has been sold for $16.3 million. Based upon the freehold land spot of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a group of bungalow specialists in Huttons Asia, serviced the sale. In regards to outright cost, this is the highest ever before for a residence in the Kew assets, states See.
The former proprietors of 26 Kew Drive have inhabited the presenting six-bedroom, 6500 sq ft real property since it was constructed over thirty years back. In March this year, the residence was put up for sale via a tender exercise by OrangeTee & Tie with an overview price of $18 million. The tender finalized on April 14 without getting a purchaser.
Caveats lodged tv show that the previous high was the revenue of a bungalow on Kew Drive inhabiting a freehold acreage of 11,857 sq ft in December 2017. The property retrieved $10.55 million or $890 psf on the acreage. One of the most current transaction for a removed home in the location occurred on Jan 13, 2022 when a bungalow on Kew Terrace with a land area of 4,496 sq ft changed 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.
Provided their preference for the spot, the buyer, who is a Singaporean, made a raised proposal of $16.3 million. See claims they intend to take down the occurring property and also build a brand-new one from scratch. Based upon URA’s Master Plan 2019, the area is assigned for a landed development of as much as three floors. Situated at the end of a dead end, the elevated site indicates the brand-new residence would have sights of the bordering landed estate.
The customer of 26 Kew Drive had been searching for a landed property in the location for “quite some point”, states See. They had made a proposal for the residence a year back at $16 million, however the past owner chose not to proceed with the transaction at that cost.